QBE Partners With Jupiter to Take On Climate Risk
QBE is partnering with Jupiter Intelligence , a San Mateo, California-based company that provides data and analytics to better predict and manage climate risk.
Founded in 2017 by Rich Sorkin, Jupiter provides a cloud-based platform that incorporates environmental factors in an integrated, dynamic model to deliver risk-focused solutions. The platform comprises data that analyses and predicts climate risk from one hour to 50 years in the future.
“The risks related to severe weather and climate change are some of the greatest challenges faced by the insurance industry. Through our partnership with Jupiter we will be able to incorporate leading-edge data analytics to improve underwriting and pricing and provide resiliency management expertise for our customers.” – Chief Operations Officer of QBE Group, David McMillan.
According to the press release, QBE has also invested in Jupiter via its venture capital arm, QBE Ventures, marking its fourth investment since its launch in 2017. Previous investments include HyperScience , Cytora , and RiskGenius .