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Reask gets Tencent backing for its AI catastrophe models

Reask, a catastrophe modelling, climate analytics and data company that uses machine learning techniques and artificial intelligence, has gained a significant vote of confidence from Chinese technology giant Tencent, which has led a seed funding round for the company.

Reask is already making headway in the insurance-linked securities (ILS) market, having worked closely with Zurich-headquartered investment manager Twelve Capital and also with London-headquartered ILS investment specialist Securis Investment Partners.

The company also works with a range of insurance and reinsurance companies, including Swiss Re and AXA, and its focus on rethinking the way catastrophe models are created, as well as in the provision of real-time services that can support parametric risk transfer, are gaining increasing attention.


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