CatX, the regulated digital marketplace connecting insurers, reinsurers and brokers with alternative capital, has strategically partnered with risk modeller Moody’s RMS to support brokers and cedents in accessing a broader capacity base and model and price risk more effectively.
Under this partnership, CatX is enhancing its capabilities with the addition of RMS’ risk view, enabling users to have access to comprehensive risk analysis and modelling tools and promoting a shared view of risk for re/insurers, brokers and ILS investors, in order to simplify communications and help all parties to close transactions faster.
Additionally, cedents can run simulations to identify optimum capital structures, benchmarking traditional and alternative sources of capacity. Institutional investors can leverage the leading natural catastrophe models in the reinsurance market to understand underlying risks better when making investment decisions, explains the firm.
Ben Brookes, Managing Director, Moody’s RMS, commented, “We are delighted to extend and strengthen our work with CatX and excited to show how our data and analytics can enhance the speed, precision, and consistency across all risk decisions.
“As the increased impact from major catastrophic events such as floods and wildfires continue to evolve, brokers and insurers are keen to embrace the latest science and technology to help them better understand the risks and opportunities they face.”
CatX recently secured a $2.7 million seed round from investors including Y-Combinator, who also invested in their pre-seed round. CatX secured regulatory approval to begin transacting insurance risk from the Bermuda Monetary Authority in 2023.
Benedict Altier, Chief Executive Officer, CatX, added, “Moody’s RMS is a trusted name in insurance risk modeling. We are excited to utilize their models and technology to assist our insurance and investment partners in enhancing their risk placement processes. This strategic partnership emphasizes our shared goal to improve investor access to top-tier modeling for insurance-linked securities.”
Lucas Schneider, Chief Technology Officer, CatX, concluded, “We’re thrilled to partner with Moody’s RMS to bring their world-class analytics, including natural catastrophe and cyber modeling to CatX. This collaboration enhances our analytics capabilities and allows our users to access RMS‘ risk view, which will help bring more alternative capital to the insurance industry.”
Source: Reinsurance News
