AXA Climate and Reask Partner on Parametric Insurance

AXA Climate and Reask have announced a strategic partnership. The collaboration aims to utilize Reask's Metryc product to offer parametric insurance solutions based on precise location-level wind speed data post-tropical cyclone landfalls, globally.

Regine Mollenhauer, chief underwriting officer at AXA Climate, said, "[Reask's] probabilistic modeling empowers us to calibrate and structure parametric contracts with precision, [resulting in] faster and more accurate risk transfer solutions."

AXA Climate holds expertise in designing products and services that enable businesses and communities to adapt to and mitigate the impacts of climate change, fostering resilience and encouraging sustainable practices.

Jamie Rodney, CEO of Reask, said, "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 leverages advanced data analytics to enhance affordability, risk management, and claims responsiveness following climate-related events.