KatRisk expands risk management capabilities with Symfos purchase

Catastrophe hazard modelling specializer KatRisk has acquired Symfos, a UK institution known for its Orchestra underwriting and portfolio absorption platform.

Financial specifics of the woody stay undisclosed.

Symfos develops bundle for the reinsurance sector, with a absorption connected catastrophe hazard pricing, portfolio absorption and vulnerability analytics.

This woody combines KatRisk’s clime and catastrophe analytics with Symfos’ software, which helps insurers utilise hazard information successful underwriting and portfolio decision-making.

The integration is aimed astatine supporting security and reinsurance providers, addressing challenges posed by earthy hazards.

The companies said that the concern volition assistance streamline the usage of hazard information crossed vulnerability management, underwriting and enforcement reporting.

The Orchestra level offers a consolidated presumption of portfolio hazard and supports dynamic pricing and accelerated script analysis.

Notably, it allows users to enactment with assorted catastrophe models, which volition proceed arsenic KatRisk’s products are incorporated into the platform.

Symfos CEO Bao Cam said: “We are joining a radical of companies that stock our values and our ambition. This acquisition gives Symfos the standard and enactment to turn portion staying existent to our doctrine of openness and our customer-first approach.”

With this acquisition, KatRisk intends to simplify however exemplary outputs are interpreted and applied successful some underwriting and fiscal contexts.

Clients volition person entree to much flexible reporting tools, ranging from high-level summaries for executives to detailed, location-specific analysis.

KatRisk noted that combining its modelling capabilities with Symfos’ exertion would trim dependence connected abstracted tools and manual processes, perchance improving workflow ratio and determination quality.

KatRisk wide manager Martyn Sutton said: “Symfos has built a almighty level that helps insurers crook analyzable hazard information into meaningful decisions.

“By bringing our teams and technologies together, we are making it easier for customers to bring clarity to analyzable hazard and enactment much assured decision-making.”

This follows KatRisk’s acquisition past twelvemonth of Gamma, an Irish institution focused connected spot hazard appraisal and determination intelligence.

"KatRisk expands hazard absorption capabilities with Symfos purchase" was primitively created and published by Life Insurance International, a GlobalData owned brand.

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