CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has adopted catastrophe risk analytics from the Extreme Event Solutions group at Verisk, a global data analytics and technology provider.
New insurance investors can directly leverage Verisk’s catastrophe risk models within CatX’s flagship insurance-linked securities (ILS) analytics tool, Catamaran, for detailed analysis and benchmarking.
This integration of Verisk’s risk modelling solutions aims to enhance CatX’s analytics capabilities to attract new capital into the ILS space. CatX believes this new capital will help enhance stability in the re/insurance sector while increasing capacity for new and existing lines of business.
CatX’s Catamaran transforms traditional insurance documents into risk dashboards to support new insurance investors in assessing potential risks, making informed investment decisions, and lowering barriers to entry for this uncorrelated asset class.
On Catamaran, investors can test and analyse opportunities with historical events and losses for several natural catastrophes which helps map the potential losses or returns in different scenarios, additionally, users can examine event sets, historical averages, minimum-maximum values, and potential payout scenarios.
The companies both believe that risk modelling adds a critical, additional perspective on risk profiles. In addition to Verisk, Catamaran offers integrated access to other modelling providers including RMS, CyberCube, and Reask to build a complete perspective on risk.
Rob Newbold, President of Verisk Extreme Event Solutions, commented, “Verisk is pleased to work with CatX and support their mission to attract new sources of capital into the insurance market. By adopting our advanced risk modelling solutions into CatX’s platform, we can provide institutional investors with insights and analytics needed to better understand complex risks from increased frequency and intensity of natural disasters. This also supports efforts to increase resilience on a global scale.”
Benedict Altier, Chief Executive Officer of CatX Global, Inc, added, “We are thrilled to work with Verisk to augment our analytics offerings. By integrating Verisk’s sophisticated models, we’re providing investors with deeper insights and a more transparent view of risk. This not only empowers investors but also facilitates the flow of new capital into the ILS market.”
Jon Wood Head of Origination at CatX, said, “Access to reliable and comprehensive risk models is crucial for investors entering the ILS market. Our collaboration with Verisk, along with integrations with other leading model providers ensures that investors have the best resources at their fingertips.”
