Cerchia and GeoInsight join forces to develop novel AI-based geospatial indices on natural disasters for industry loss warranty products.
Zurich/Bern, July 11th, 2023
Cerchia, a fintech company based in Switzerland, has announced a partnership with GeoInsight, a geospatial data science company also based in Switzerland, to work on creating innovative AI data-driven indices solutions to tackle the global protection gap.
An example is Southeast Asia which is experiencing more frequent and intense cyclones, typhoons, and heavy rainfall events. However, only a few indices cover the fast-growing region versus indices that cover US storms.
The two companies have signed an agreement to explore opportunities for developing new indices that reflect the damage caused by natural disasters and to accelerate industry loss warranties (ILW) matchmaking on the new OTC marketplace DRT (trademarked).
The CEO of Cerchia, Michael Rey, stated: “The partnership with GeoInsight is part of our vision to create a more resilient world and actively create data-driven capital markets solutions to tackle the global $2tn protection gap caused by natural disasters and climate change”.
The CEO of GeoInsight, Dr. Gino Caspari, added: “The partnership allows us to discover new geospatial use cases in the global reinsurance space and contribute to one of the biggest human challenges, the widening protection gap and the economic impacts on vulnerable countries and business owners caused by natural disasters”.
The new partnership will be based on extensive R&D, data modeling, and the publication of new perils indices aiming at novel ILW protection solutions for underserved countries and businesses in emerging economies in South-East Asia.
About Cerchia AG
Founded by two Swiss capital markets veterans with the vision to create a more resilient world. A world where underinsured people and companies have access to insurance protection against climate change risks like floods, storms, or draughts. By providing direct access to the capital markets via the proprietary DRTTM platform we help to solve the protection gap and actively contribute to the UN sustainable development goals. www.cerchia.io
Media contact: paulo.germann@cerchia.io
About GeoInsight AG
Headquartered in Bern, Switzerland GeoInsight AG is a geospatial data science company active in the collection, integration, and distribution of geographical data as well as the provision of geospatial data products, such as custom indices, spatial statistics, AI-derived insights, and data science services for various industries and use cases. www.geoinsight.ai