Starting January 1, 2025, OAK Re will leverage Moody’s advanced risk applications, including Risk Modeler and ExposureIQ, to analyze catastrophe perils such as cyber threats, terrorism, and climate change impacts.
This partnership aligns with OAK Re’s goal of using data-driven insights to inform underwriting decisions and deliver innovative reinsurance solutions. Moody’s open modeling framework, developed in collaboration with Nasdaq, will provide OAK Re with a flexible and scalable platform to assess various risk scenarios.
Cathal Carr, CEO of OAK Re, commented on the news, saying: “Combined with our underwriting expertise, their extensive portfolio of respected models and analytical solutions will allow us to continually enhance and evolve our risk understanding,.”
He continued: The holistic nature of the Moody’s offering provides the flexibility and scalability to support our ambitions and facilitate growth over time.”
Daniel Flemington, managing director of insurance solutions at Moody’s, said: “Similar to many ambitious, high-growth, innovative start-up businesses we work with, being able to quickly get up and running and access sophisticated risk modeling across a spectrum of perils, within the cloud-based IRP and its applications, and scale up, adopt new models and solutions as and when required, is ideal for businesses without the burden of legacy infrastructure.”
