Menu

Reinsurance News

AbsoluteClimo upgrades global risk models

18th November 2020 - Author: Katie Baker

AbsoluteClimo has announced an enhanced version of its global risk models GOTCHA and ClimoCats, both of which are linked to climate physics and machine learning predictions.

Storm OpheliaThe enhancements include upgraded machine learning and AI tools, wider tail risk probability forecasts, differential and departure forecasts, and a new global pandemic climate-epidemiology prediction model.

These advances have been described by AbsoluteClimo as a way for businesses to discover climate-driven risks and opportunities, resolve and reduce financial uncertainty, and gain better pricing optics.

With a business model based on forecast accuracy, AbsoluteClimo was created to answer the demand for forward assessment of climate-driven risk and opportunity.

Tim Yip, Executive Director at HSZ Group’s ILS Advisers in Hong Kong commented: “We very much appreciate and value the different approach and view that AbsoluteClimo’s technologies are able to provide us against the traditional tools used in our industry.

“In a diverse, developing and active region like Asia especially, with varying degrees of questions on data and model confidence, being able to have an independent and different view is very valuable.”

“AbsoluteClimo has created the most forward reaching, consistent and accurate financial models linked to climate and cat exposures the world has seen”, said William Bloomstine, Senior Client Advisor at Insurance Management Company in Erie, Pennsylvania.

Sudhir Ispahani CEO of Alpha Global Partners LLC and AbsoluteClimo advisor added: “AbsoluteClimo’s proven technology has disrupted a 70 year old paradigm exclusive to government and academic resources which the world grew dependent on.

“AbsoluteClimo’s founders are successful serial entrepreneurs with decades of practice, providing a strategic advantage having learned from pioneering success at WeatherLabs, doubling down reinvestment into AbsoluteClimo’s R&D.”

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
COVID-19 leads PCS’ Johansmeyer’s ‘Four Horsemen of 2021’

With one of the year's biggest and busiest holiday's approaching, and the likelihood of any possible COVID-19 vaccine easing the...

Close