QBE partners with Jupiter to take on climate risk

QBE-Insurance-partners-with-Jupiter

QBE Insurance Group Limited has announced its partnership with Jupiter, an emerging leader in predicting and managing climate risk.

Jupiter’s “ClimateScore” is a comprehensive, cloud-based platform that incorporates environmental factors in an integrated, dynamic model to deliver risk-focused solutions. The platform comprises data that analyses and predicts climate risk from one hour to 50 years in the future.

QBE Group Chief Operations Officer David McMillan said: “The risks related to severe weather and climate change are some of the greatest challenges faced by the insurance industry. Through our partnership with Jupiter we will be able to incorporate leading-edge data analytics to improve underwriting and pricing and provide resiliency management expertise for our customers.”

Jupiter currently predicts the probability of extreme weather in select North American cities and the company is steadily expanding to service global markets.

QBE’s partnership with Jupiter is in line with our commitment to managing climate-related risks and opportunities. Earlier this year, QBE also signed the Statement of Support to adopt the recommendations of the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD).

QBE also invested in Jupiter via its venture capital arm, QBE Ventures, which partners with the world’s best and brightest start-ups to deliver new technologies and competencies.

Jupiter is the fourth investment made by QBE Ventures, including HyperScience, Cytora, and RiskGenius, since its launch in 2017.

CLICK HERE TO SIGN UP FOR OUR
FREE BI-WEEKLY NEWSLETTER

Latest video

QBE: Cyber Crime - Did you have coffee with a major threat this week?

25% of Cyber breaches involve existing employees. Read about four easy steps to protect your business CLICK HERE.If you would like to make contact with QBE to find... click here for more