Cerchia partners with GeoInsight

Switzerland-based provider of automated parametric event risk payouts Cerchia has partnered with GeoInsight , a geospatial data science company also based in Switzerland, to work on creating ‘innovative’ AI data-driven indices solutions to tackle the global protection gap.

An example is Southeast Asia which is experiencing more frequent and intense cyclones, typhoons, and heavy rainfall events. However, only a few indices cover the fast-growing region versus indices that cover US storms. The two companies have signed an agreement to explore opportunities for developing new indices that reflect the damage caused by natural disasters and to accelerate industry loss warranties (ILW) matchmaking on the new OTC marketplace DRT (trademarked).

“The partnership with GeoInsight is part of our vision to create a more resilient world and actively create data-driven capital markets solutions to tackle the global $2tn protection gap caused by natural disasters and climate change.” – CEO of Cerchia, Michael Rey.

“The partnership allows us to discover new geospatial use cases in the global reinsurance space and contribute to one of the biggest human challenges, the widening protection gap and the economic impacts on vulnerable countries and business owners caused by natural disasters.” – CEO of GeoInsight, Dr. Gino Caspari.

The new partnership will be based on extensive R&D, data modeling, and the publication of new perils indices aiming at novel ILW protection solutions for underserved countries and businesses in emerging economies in South-East Asia.