A Bermudian-based fully regulated digital marketplace for insurance risk has adopted new modelling to enhance its analytics capabilities.

CatX Limited has teamed up with Extreme Event Solutions group at Verisk, a leading global data analytics and technology provider.

“Verisk is pleased to work with CatX and support their mission to attract new sources of capital into the insurance market,” said Rob Newbold, president of Verisk Extreme Event Solutions.

“By adopting our advanced risk modelling solutions into CatX's platform, we can provide institutional investors with insights and analytics needed to better understand complex risks from increased frequency and intensity of natural disasters.

“This also supports efforts to increase resilience on a global scale.”

Benedict Altier, chief executive of CatX Global, Inc, added: “We are thrilled to work with Verisk to augment our analytics offerings.

“By integrating Verisk’s sophisticated models, we’re providing investors with deeper insights and a more transparent view of risk.

“This not only empowers investors but also facilitates the flow of new capital into the ILS market.”

Jon Wood, head of origination, at CatX said: “Access to reliable and comprehensive risk models is crucial for investors entering the ILS market.

“Our collaboration with Verisk, along with integrations with other leading model providers ensures that investors have the best resources at their fingertips.”