Synthetik

Cohort: Cohort 13

Focus on Insurance Value Chain/Workflow: Loss Modelling & Analytics

Specific lines of business: Captive, Corporate, Government, Reinsurance, SME, Specialty

Status: Operating

Company type: Insurance Platform

Head Office: United States 

Main global offices: United States 

Locations served: United States 

Employee count: 20

Synthetik is a fast-growing technology start-up based in Austin, TX. They create and develop breakthrough technology to mitigate the biggest threats to the world around us, including terrorism, extreme events and global environmental impacts.

Synthetik’s primarily focused on developing and launching their SRCC modelling platform srccQuantum, designed to address the growing global challenge of Strikes, Riots and Civil Commotion (SRCC) exposure. Synthetik’s goal was to provide the insurance market with actionable data to better understand embedded SRCC exposures and enable innovative solutions i.e. Catastrophe Bond structuring.

Synthetik were able to build and develop their SRCC loss modelling platform that allows the market to quantify projected or actual loss data, whilst building relationships with insurers in the London market to help validate their model against historical events and embedded exposures. They are in the process of releasing two other products where their ideas were generated by Lab mentors. Synthetik have successfully deployed srccQuantum into live underwriting environments, providing actionable SRCC insights to support exposure management and portfolio analysis. srccQuantum now helps underwriters, brokers, reinsurers and capital markets quantify SRCC risks with confidence, backed by their long tenure of delivering computational models to government, insurance and reinsurance clients.