This initiative will expand access to third-party catastrophe risk models, supporting further closing the protection gap across global insurance markets
BOSTON, May 26, 2026 (GLOBE NEWSWIRE) -- Verisk (Nasdaq: VRSK), a leading strategic data analytics and technology partner to the global insurance industry, today announced that KatRisk has entered into an agreement to join Verisk Model Exchange to further expand the open catastrophe risk modeling ecosystem. This initiative is designed to broaden access to third-party catastrophe risk insights for insurers and reinsurers at a time when climate-driven risk and evolving regulatory expectations are increasing the need for transparent, defensible risk assessments.
Verisk Model Exchange is a catastrophe modeling platform that enables the evaluation of multiple independent views of catastrophe risk within a single governed, vendor-neutral platform where open standards ensure every model runs on a consistent financial engine. With more than 20 third-party model providers and over 400 peril models, the platform supports side-by-side model comparison, standardized analysis, and more informed underwriting, portfolio management, capital planning, and regulatory decision-making.
"Building resilience in the face of growing catastrophe risk requires transparency, choice, and the ability to understand uncertainty," said James Lay, assistant vice president of Verisk Model Exchange, Verisk Catastrophe and Risk Solutions. "By welcoming KatRisk to the platform, we're working to expand an open ecosystem that gives insurers, brokers and reinsurers access to broader views of risk, enabling more confident and defensible decisions as they navigate increasingly complex markets."
Broadening Perspectives Across Catastrophe Risk
KatRisk's models, which include inland flood, storm surge, tropical cyclone wind, severe convective storm, wildfire, and earthquake, incorporate climate variability and forward-looking hazard behavior, providing additional perspectives on various natural catastrophe risks. Adding KatRisk models to Verisk Model Exchange will expand access to specialized catastrophe insights, particularly for new geographic territories and perils where additional modeling perspectives support a clearer understanding of exposure and improved resilience.
"As catastrophe risk becomes more climate-driven and interconnected, insurers need access to transparent frameworks that allow them to evaluate different risk perspectives consistently," said Martyn Sutton, general manager, KatRisk. "Verisk Model Exchange will allow the market to assess KatRisk's models alongside other independent approaches within a common analytical framework supporting informed comparison and stronger risk insight across the industry."
Scale and Choice Across the Catastrophe Modeling Ecosystem
Models available through Verisk Model Exchange span global natural catastrophe perils, including wildfire, severe convective storm, tropical cyclone, storm surge, inland flood, and earthquake, enabling insurers and reinsurers to access independent model perspectives within a single platform. The platform also supports cyber risk modeling, with specialist vendor models available alongside natural catastrophe models, bringing physical and digital risk perspectives together to help the industry address increasingly interconnected risk exposures.
Verisk Model Exchange operates on standardized catastrophe modeling framework and supports access via user interface or API, enabling insurers and reinsurers to integrate third-party models into existing workflows while accommodating a governed, vendor-neutral auditability and the appropriate treatment of intellectual property. Verisk acquired Model Exchange-formerly known as Nasdaq Risk Modelling for Catastrophes-in 2025 to develop an open, multi-vendor catastrophe modeling platform designed to expand access to independent risk insight and support more transparent, defensible decision-making across global insurance markets.
For more information about Verisk Model Exchange: https://www.verisk.com/products/model-exchange/
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About Verisk
Verisk (Nasdaq: VRSK) is a leading strategic data analytics and technology partner to the global insurance industry. It empowers clients to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global risks, including climate change, extreme events, sustainability and political issues. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk helps build global resilience for individuals, communities and businesses. With teams across more than 20 countries, Verisk consistently earns certification by Great Place to Work. For more, visit Verisk.com and the Verisk Newsroom.
About KatRisk
KatRisk is a global leader in catastrophe risk intelligence and technology, helping organizations better understand, quantify, and manage climate-driven risk. Serving insurers, reinsurers, government institutions, and financial services organizations worldwide, KatRisk delivers forward-looking insight across flood, storm surge, tropical cyclone wind, severe convective storm, wildfire, and earthquake risk, with catastrophe models spanning more than 190 countries. Through transparent science, flexible data architectures, and high-performance computing, KatRisk transforms complex hazard data into practical underwriting, portfolio management, and risk strategy decisions, enabling organizations to act with greater speed, clarity, and confidence. For more information, visit www.katrisk.com.
Verisk Mary Keller 339-832-7048 mary.keller@verisk.com Katrisk Emma Rauschkolb emma.rauschkolb@katrisk.com
