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.
Tropical cyclones continue to pose a major risk around the world. Thanks to our collaboration with Reask, organizations around the world will have access to broader coverage, flexible use of funds and a speedier recovery
Until now, a lack of reliable observations in many tropical cyclone-affected areas have limited the deployment of such solutions beyond established markets. Our Metryc product provides complete global coverage, augmenting scarcely available observations through predictive modelling
For more information on the Metryc product, get in touch at info@reask.earth.