QBE partners with Jupiter to take on climate risk
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.
QBE European Operations is part of QBE Insurance Group, one of the world’s leading international insurers and reinsurers and Standard & Poor’s A+ rated. Listed on the Australian Securities Exchange, QBE’s gross written premium for the year ended 31 December 2018 was US$13.7 billion.
As a business insurance specialist, QBE European Operations offers a range of insurance products from the standard suite of property, casualty and motor to the specialist financial lines, marine and energy. All are tailored to the individual needs of our small, medium and large client base.
We understand the crucial role that effective risk management plays in all organisations and work hard to understand our clients’ businesses so that we offer insurance solutions that meet their needs – from complex programmes to simpler e-trading solutions – and support them in minimising their risk exposures. Our expert risk management and rehabilitation practitioners focus on helping clients improve their risk management so that they may benefit from a reduction in claims frequency and costs.
- 18 May 2020
- 13 May 2020
- 27 Apr 2020
- 23 Apr 2020
- 20 Apr 2020
- 14 Apr 2020
- 14 Apr 2020
- 14 Apr 2020
- 7 Apr 2020
- 30 Mar 2020