Renew Risk

Cohort: Cohort 11, 2023

Focus in insurance value chain: Loss Modelling

Specific lines of business supported: Renewable Energy

Founded: 2021

Status: Operating, still in insurance

Company type: Data Provider

Head office: London

Locations served: Global

Employee count: 1-10

Renew Risk provides risk modelling software for renewable energy assets. Renew Risk's deep data science-driven risk models enable (re)insurers to undertake comprehensive catastrophe risk assessments, inform pricing and capacity, conduct event response, etc., and confidently underwrite risks in new regions throughout all phases.

Renew Risk finalised the completion of the US Cat model they developed during the Lab’s 10-week programme. They also made significant progress on their Taiwan models, which they will be producing. During the Lab programme, they gained substantial visibility in the market, leading to excellent client conversations and licensing for their current and future models.