Synthetik Insurance Technologies (Synthetik), a provider of advanced modelling tools for man-made and natural catastrophe risk, has extended its agreement with Marsh Re for a further three years, covering extensive multi-peril consultancy services and Marsh Re’s use of CityScape.
CityScape is Synthetik’s portfolio-level explosion modelling tool, developed in collaboration with Marsh Re. It evaluates property damage and financial loss from explosive detonations and is particularly suited to dense urban environments, where blast effects are shaped by surrounding buildings and street layouts.
The tool uses computational fluid dynamics through Synthetik’s blastFoam solver, packaged in an accessible browser-based interface that allows users to run analyses without specialist engineering software.
As part of the renewed agreement, Marsh Re will continue to use CityScape to help clients understand terrorism and political violence accumulations, assess probable maximum loss and support the structuring and placement of reinsurance programmes.
Brian Watson, CEO of Synthetik Insurance Technologies, said, “Marsh Re’s support has been foundational for Synthetik. We’re delighted that they have chosen to extend our collaboration for another three years. Explosion risk in urban areas is highly complex, and simplified approaches can miss how blast behaves around real buildings and streets. CityScape brings the rigour of physics-based modelling into a tool that underwriters and analysts can use every day, and working with Marsh Re continues to help us refine it for the needs of the reinsurance market and for users across the supply chain.”
Stephen Hudson, Head of Political Violence Advisory at Marsh Re, added, “Our clients need a clear, defensible view of their terrorism exposures, particularly in major cities where accumulations can be significant. CityScape gives us an engineering-based way to quantify those risks and to support clients in making informed decisions about their reinsurance protection.”
