gains funding from leading early-stage investors to deliver next-generation global Nat Cat modelling
Summary
The funding, led by Tencent, plus SV Angel and Hawktail, will support Reask’s growth and development of its next generation AI-based models, as re-insurers seek to deal with the increased frequency and scale of losses from climate risk and natural catastrophes, worldwide. We are already gaining great traction in the market with our unique AI-based solutions, and are thrilled that our high-profile investors have recognised this with their investments supporting the next stage of our growth strategy. It follows increasing traction by Reask with leading clients such as Swiss Re, AXA and ILS firms including Twelve Capital and Securis Investment Partners. Reask’s suite of Nat Cat modelling solutions are built with explicit connection to changing global climate conditions, using AI from the ground up. As a result, they lack the accuracy needed for re-insurers to optimise their assessment and pricing of risk given the rapid pace and global impact of climate change.