How insurtech is helping respond to climate risk

With climate change a factor in some of the most destructive catastrophes worldwide, the insurance industry is taking notice.

Ruth Foxe Blader, managing director with venture-capital company Anthemis, is responsible for identifying insurtechs that are helping carriers minimize risk.

Previously of Allianz, Blader has led investment rounds in companies that have been impacted by climate change, crop yields, risk management for solar energy investments, and flood.

Solar panels stand on the roof of a new IKEA store in Miami, Florida, U.S., on Tuesday, May 20, 2014. IKEA US is currently the second largest private commercial user and owner of solar panels and is in the midst of investing $150 million in Photovoltaic systems, according to the company web site. Photographer: Christina Mendenhall/Bloomberg

“Climate change is a massively important topic for anyone interested or working in insurance,” she says, “The industry was one of the first to recognize climate[‘s impact], because it recognizes the nature of catastrophes around climate change.”

Blader highlights three of Anthemis’ portfolio companies working in the area:

  • kWh Analytics provides risk management products for solar energy investments. This includes HelioStats risk management software for project finance investors in the solar market.
  • Insurdata technology intelligently captures, enhances, scores and transfers high-resolution, context-specific exposure, contract and risk data globally.
  • Stable is a price risk-management platform that helps businesses around the world protect themselves from volatile commodity prices. Stable makes hedging simple and accessible so that companies of every size and sector can invest in the future with confidence.

“The best way to being credible and relevant is by being an investor,” Blader adds. “If you are going to deeply understand emerging technology it is important to start in the stage of investment.”

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