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Insurance & Risk 2026Updated

List of Catastrophe Risk Modeling Firms for Insurance

Comprehensive directory of catastrophe risk modeling vendors serving the insurance and reinsurance industry, covering hurricane, earthquake, flood, wildfire, and emerging peril models used for underwriting, portfolio management, and regulatory compliance.

Available Data Fields

Company Name
Headquarters
Perils Covered
Platform / Product
Geographic Coverage
Model Framework
Key Clients
Founding Year
Parent Company
Specialization

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Company NameHeadquartersPerils CoveredPlatform / Product
Moody's RMSNewark, CA, USAHurricane, Earthquake, Flood, Wildfire, Cyber, TerrorismIntelligent Risk Platform
Verisk (formerly AIR Worldwide)Boston, MA, USAHurricane, Earthquake, Flood, Severe Storm, WildfireTouchstone / Synergy Studio
Karen Clark & CompanyBoston, MA, USAHurricane, Earthquake, Flood, Wildfire, Severe StormRiskInsight
KatRisk (Technosylva)Berkeley, CA, USAFlood, Storm Surge, Tropical Cyclone, Wildfire, HailSpatialKat / SoloKat
JBA Risk ManagementSkipton, North Yorkshire, UKFlood (Fluvial, Pluvial, Coastal, Groundwater)JBA Flood Models

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Catastrophe Risk Modeling: The Backbone of Insurance Underwriting

Catastrophe risk modeling transforms raw geophysical and meteorological data into probabilistic loss estimates that drive underwriting decisions, reinsurance placement, and regulatory capital calculations across the global insurance industry. For chief underwriting officers and reinsurance portfolio managers, selecting the right cat modeling vendor—or combination of vendors—directly impacts pricing accuracy and portfolio resilience.

Market Structure: Beyond the Big Two

The catastrophe modeling market has historically been dominated by two firms: RMS (now Moody's RMS) and AIR Worldwide (now Verisk Extreme Event Solutions). Together they command the majority of market share. However, the landscape has shifted significantly:

EraDevelopmentImpact
1987–2000sAIR and RMS establish commercial cat modelingProprietary duopoly forms
2007Karen Clark founds KCC with open loss platformFirst major alternative vendor
2013Oasis Loss Modelling Framework launchesOpen-source ecosystem enables boutique modelers
2018–presentAI-native firms (Reask, ZestyAI) emergeMachine learning augments physical models

Peril-Specific Specialization

While the major vendors offer multi-peril suites, several firms have carved out niches in specific perils:

Flood
JBA Risk Management and Fathom (acquired by Swiss Re in 2023) offer high-resolution global flood models that many carriers layer on top of primary vendor outputs for more granular flood exposure analysis.
Wildfire
KatRisk (acquired by Technosylva in 2024) combines wildfire behavior simulation with catastrophe modeling, addressing a peril where traditional models have historically underperformed.
Tropical Cyclone Wind
Reask uses AI-driven probabilistic hazard maps that provide forward-looking tropical cyclone risk views, complementing traditional stochastic event sets.

Open vs. Proprietary: The Oasis LMF Effect

The Oasis Loss Modelling Framework has fundamentally altered vendor dynamics. With over 90 models from 18+ suppliers available through Oasis, carriers are no longer locked into a single vendor ecosystem. Nasdaq Risk Modelling for Catastrophes operates the first independent multi-vendor platform built on Oasis, enabling side-by-side model comparison without proprietary platform lock-in.

Evaluation Criteria for Cat Model Selection

When evaluating vendors, underwriting leaders typically weigh:

  • Model validation — How well did the model backtest against historical events?
  • Hazard resolution — Sub-kilometer grids reveal risks that coarser models miss
  • Exposure data flexibility — Support for CEDE, OED, and EDM formatted exposures
  • Forward-looking capability — Climate-conditioned views vs. historical-only catalogs
  • Regulatory acceptance — NAIC and state DOI approval for rate filings

Frequently Asked Questions

Q.How does Datapository source its catastrophe modeling vendor data?

When you submit a request, our AI crawls public sources—vendor websites, regulatory filings, industry directories like ISCM, press releases, and conference records—to compile a current list. The data reflects publicly available information at the time of your query, not a static database.

Q.Can I filter by specific perils like wildfire or flood?

Yes. You can specify any peril—hurricane, earthquake, flood, wildfire, severe convective storm, cyber, terrorism, pandemic—and the system will return only vendors with models covering that peril in your target territories.

Q.Does the data include model validation or backtest performance?

We include publicly disclosed validation information where available, such as published event loss comparisons and regulatory review outcomes. Proprietary backtesting results that vendors share only under NDA are not included.

Q.Are consulting firms and brokers with in-house models included?

The dataset covers dedicated cat modeling vendors and platforms. Brokers with significant proprietary modeling capabilities (e.g., Aon Impact Forecasting, Guy Carpenter) are included where they offer models commercially or through Oasis LMF.