Xceedance, a global provider of strategic operations support, technology, and data services to insurance organizations, announced the launch of burst capacity catastrophe modeling resources to support reinsurers during peak renewal times.

The company can provide catastrophe modeling resources, utilizing the platforms licensed by reinsurers, to help augment their capacity. On-demand catastrophe modeling services include a provision of burst capacity resources on short term, two month contracts to function as an extension of in-house resources during peak periods, treaty underwriting support with modelling of treaties in programs and accounts, and the ability to manage reinsurance structures.

The services also include updated pricing templates, analysis of exposure, loss insights, and year-on-year comparisons, and post-bind treaty reconciliations and portfolio roll-up activities.

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Augment Risk, a reinsurance broker offering bespoke solutions to its partners, announced the launch of its Global Parametric Specialty division. .

Kurt Cripps simultaneously joined Augment Risk to lead a team focused on client tailored parametric reinsurance products designed to provide a surgical approach to managing catastrophe exposures.

Augment Risk’s parametric placements are designed to enhance the traditional client operating model through its claims recovery process.

The company’s Parametric Specialty division will initially focus on assisting captives, insurers, reinsurers and ILS firms in managing their global exposures to natural perils with the ambition to impact the proportion of catastrophe premium currently in the market by moving to index-based solutions and complementing a client’s current buying dynamic.

Sources: Xceedance, Augment Risk