The rise of niche model vendors (385)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Entrepreneurship, Business, Investing

4.9 • 51 Ratings

🗓️ 14 December 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, Brian Owens is joined by Dana Foley (Head of Catastrophe Research at Chaucer), Joss Matthewman (Chief Revenue Officer at Reask) and Olivia Sloan (Head of Catastrophe Products at Fathom) to explore the growing influence of specialist model vendors in catastrophe risk modelling and why they’re anything but “niche”. With decades of combined experience across underwriting, model development and scientific research, the panel discusses how climate change, regulatory pressure and the need for portfolio-specific insight are pushing insurers to reconsider single-platform dependency. They explore how new vendors are filling gaps left by traditional models offering science-led, transparent and highly customisable solutions tailored to specific business needs. Drawing on their respective roles across the risk ecosystem, the panellists explain why the return to multi-modelling is gaining momentum and how platforms like Oasis are helping democratise access to emerging tools. In this conversation, the panel explores: Why “niche” models are proving critical in underserved perils, regions and use cases The evolution from black-box outputs to transparent, collaborative frameworks How science-first models enable faster innovation and user-driven risk views What’s enabling and blocking wider adoption of multi-modelling approaches How Fathom and Reask are using AI and machine learning to improve model fidelity Why regulatory scrutiny and climate change demand a more agile modelling approach The role of open platforms like Oasis in supporting innovation and vendor access What insurers need to consider when building a tailored, future-ready modelling strategy Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning.

Transcript

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0:00.0	Hello, welcome or welcome back to the INSTECH podcast.
0:13.1	Zoya here.
0:14.1	And this week we're sharing a panel discussion moderated by Brian Owens, independent consultant,
0:19.9	exploring the rise of niche catastrophe modelers.
0:23.6	So how are specialist model providers changing the way insurers, re-insurers and brokers evaluate
0:29.1	risk? In this conversation featuring panelists from Fathom, Chaucer and Riask, we dig into why
0:35.5	flood, wildfire, hurricane and climate risk modeling is evolving.
0:40.3	The panel looks at what's driving the growth of newer modelling approaches,
0:44.0	how multi-model platforms are improving access and integration,
0:48.2	and how teams are now using models not just to price risk, but to ask better questions.
0:54.1	If these themes resonate with you or you're simply just interested to hear them in more depth,
1:00.0	we are certainly exploring them at exponential risk London 26th, which is returning on the 10th to the 11th of March next year.
1:09.8	Is the UK's largest independent event dedicated to catastrophe, climate and exposure analytics,
1:15.3	with hundreds of industry professionals already signed up.
1:19.3	The early bud pricing ends January 30th, so until then, pour yourself a coffee.
1:24.6	Enjoy the conversation and hopefully we'll see you there.
1:34.4	Thank you. And pour yourself a coffee, enjoy the conversation, and hopefully we'll see you there. You know, when you're building a big model which underpins an industry, there is a responsibility and a duty there and also a kind of practical consideration that you can't jump around too much right.
1:43.8	It can't be too reactive to the science.
1:45.9	That's kind of actually becoming a problem if it is.
1:48.4	But internal view of risk can start to move at that much faster pace, right?
1:52.3	And I think this is where the kind of the smaller model vendors,
1:56.7	the startups really have that agility.
	...

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