GARP rethinking natural catastrophe modelling

In the latest GARP Climate Risk Podcast, Jamie Rodney (CEO, Reask), Thomas Loridan (Co-Founder & Chief Science Officer, Reask), and David Schmid (Head of Global Data Products, Reask) discuss how climate change is reshaping natural catastrophe modelling for the insurance industry.

Traditionally based on historical data, Nat Cat models are losing accuracy as extreme weather patterns evolve. This episode highlights new approaches, including incorporating physics into modeling, using machine learning to harness earth system data, and developing innovative products like parametric insurance. These advancements help insurers better quantify risks and close the insurance gap.

Explore Reask’s cutting-edge tropical cyclone models and GARP’s Sustainability and Climate Risk Resource Center for more insights.