The solution leverages Safehub’s ShakeNet platform, which integrates data from a growing network of proprietary seismic sensors alongside government monitoring systems. ShakeNet generates localized shaking maps powered by the Global Earthquake Model Foundation’s OpenQuake engine, an open-source hazard modeling framework widely used in the field.
In parallel with the launch, LM Re has joined the GEM Foundation as a sponsor, reinforcing its commitment to advancing earthquake risk modeling and reducing protection gaps.
ShakeNet Parametric is aimed at lowering basis risk in parametric policies by aligning payouts more closely with actual damage. Its scalable sensor technology also allows for rapid deployment in regions where post-earthquake data is often sparse, with the option to add sensors at client sites to improve accuracy.
According to LM Re, the product can be applied across large insurance portfolios and structured to support public-private partnerships or sub-layer reinsurance programs.
Jean-Christophe Garaix, Head of Agriculture and Parametrics at LM Re, said the partnership combines reinsurance expertise with real-time seismic data to “deliver resilient, science-backed insights that enable faster, smarter earthquake response.”
Safehub CEO Andy Thompson highlighted the global reach of the technology, noting that the company’s ability to expand into developing markets allows it to “provide the highest-resolution regional shaking maps anywhere in the world,” enhancing the industry’s ability to manage earthquake risk.
