In four out of the last five years, Insurance and Reinsurance companies (IRCs) regis- tered record losses because of climate-re- lated disasters, summing up to about €320 bn in total. This is because the strategy commonly adopted by IRCs for climate risk assessment has become obsolete. Climate risk is currently assessed by IRCs on the basis of the historical frequency of extreme events, which are natural catastrophes with a major impact on the economy and the critical infrastructures. However, the analysis of historical data is a blunt weapon as, with climate change, the frequency and intensity of extreme events is dramatically increasing over time.
AMIGOclimate is a groundbreaking software as a service (SaaS) that provides insurances with a comprehensive portfolio of climate services based on cutting-edge proprietary methodologies. It provides a one-stop, easy- to-use, fast and cost-effective solution to seamlessly access diverse data from multiple databases, transform this data into thorough and ready-to-use information about climate risk, and in particular to quantify the expect- ed variations in frequency of extreme events.
AI, Climatology & Data Science
AMIGOclimate is the only SaaS in the market for the automatic detection extreme events over different time horizons. The climate risk is assessed through a comprehensive set of climate data, ranging from historical observations to climate seasonal forecasts (from one to six months ahead) to longterm climate scenarios (up to 100 years in the future), and cutting-edge customised methods. Moreover, it uniquely offers the engaging visualisation of variations in the frequency of extreme events. This feature renders AMIGOclimate a disruptive solution for climate change adaptation.