Reask are excited to announce the release of our latest product – Metryc – our tropical cyclone calculation agent for parametric insurance solutions.
Metryc represents the evolution of our event response service HindCyc, targeting the specific requirements of the parametric insurance industry. Delivering high-resolution wind hazard intensity metrics days after an event occurs, Metryc provides a reliable calculation agent with consistent global coverage. In addition, our Metryc Assess service provides historic and probabilistic views of risk to help price and structure parametric solutions.
In addition, Swiss Re Corporate Solutions will expand its parametric windstorm solution STORM, leveraging Reask’s Metryc product as a calculation agent. This will enable Corporate Solutions to address the market in areas outside of the U.S. and the Caribbean, with STORM using Metryc to determine whether a policy is triggered.