London, Paris / 14.03.2024 – Reask, a leading provider of climate risk modeling solutions, is thrilled to announce a strategic partnership with AXA Climate, the pioneering climate risk insurance broker. This collaboration is leveraging Reask’s cutting-edge Metryc product to offer advanced parametric insurance solutions based on precise location-level wind speed data following tropical cyclone landfalls, worldwide.
Regine Mollenhauer, Chief Underwriting Officer at AXA Climate, is pleased about the partnership, stating, “Choosing Reask as our partner was a strategic decision driven by their ability to deliver quality, high-resolution data on a global scale. Their approach to probabilistic modelling empowers us to calibrate and structure parametric contracts with precision, ultimately benefiting our clients with faster and more accurate risk transfer solutions.
As a leader in climate risk insurance, AXA Climate is renowned for its expertise in designing innovative products and services that enable businesses and communities to adapt to and mitigate the impacts of climate change, fostering resilience and encouraging sustainable practices.
David Schmid, Head of Parametric Products at Reask, highlighted the significance of the partnership, saying, “Partnering with AXA Climate marks a pivotal moment for Reask, as it validates our commitment to providing the insurance industry with the most sophisticated climate risk data available. AXA Climate’s readiness to integrate our globally consistent data into their parametric insurance solutions showcases the transformative potential of data in further reducing the protection gap.”
Jamie Rodney, CEO of Reask, added, “This partnership with AXA Climate underscores our team’s passion for developing and applying cutting-edge science to real-world problems. AXA Climate’s recognition of our unique position in offering high-resolution, high-quality data globally aligns with our mission to become the currency for parametric insurance products. We’re truly excited to embark on this journey with AXA Climate, driving positive change and resilience in the face of climate risks.”
The partnership between Reask and AXA Climate represents a forward-thinking approach to parametric insurance in leveraging advanced data analytics to improve affordability, risk management and claims responsiveness following climate-related events.
For more information about Reask and AXA Climate and their innovative solutions, please visit reask.earth and climate.axa.
About AXA Climate
AXA Climate’s guiding principle, “Make regenerative business universal,” drives the company to lead a significant shift in business mindset—moving beyond merely reducing harm to fundamentally transforming how businesses interact with the natural world. With its range of services, including digital training programmes, science-based SaaS products, specialized consulting services, and climate insurance products, AXA Climate empowers sectors such as agri-food, industrial, financial, and public with the tools they need to address the challenges of climate change. With a global presence, AXA Climate is a leading force in the movement towards regenerative business practices. For more information, visit climate.axa or follow @AXA Climate on LinkedIn.