LA JOLLA, CA, LEON, SPAIN, & BERKELEY, CA, Nov. 18, 2024 – Technosylva, a leading provider of wildfire simulation modeling, risk analysis and operational response software solutions, announced today the acquisition of KatRisk, a leading innovator in global catastrophe risk modeling. Together, Technosylva and KatRisk will offer an integrated approach for risk assessment, prediction, and response solutions across wildfire, flood, severe convective storm, and other extreme weather threats. This will support and strengthen the evolving needs of electric utilities, the insurance industry, financial institutions, and government agency customers.
The acquisition builds upon an expanding severe weather hazards focus for Technosylva, which recently announced a collaboration with CenterPoint Energy to bolster the utility’s resilience against the escalating risks of extreme weather events. As these events increase both in frequency and intensity, it is imperative that electric utilities leverage solutions that enable them to better protect communities and assets, and that the insurance industry strengthen its understanding and ability to articulate the changing nature of wildfire risk in policy writing.
“As the frequency and severity of natural disasters increase, the need for precise, multi-peril catastrophe modeling has become essential,” said Bryan Spear, CEO of Technosylva. “By uniting our respective strengths in wildfire risk modeling and catastrophe modeling, we are positioned to offer our customers an unmatched suite of tools to anticipate, plan for, and effectively respond to a multitude of extreme weather events. We look forward to further expanding and enhancing these capabilities as we enter our next phase of growth.”
Technosylva’s solutions – including Wildfire Analyst, fiResponse and Tactical Analyst – equip electric utilities and government agencies with data-rich forecasts and real-time wildfire spread simulations to safeguard their communities and assets from the devastating effects of wildfires. Wildfire Analyst, in particular has become a mission-critical tool for electric utilities, providing essential insights that help them mitigate wildfire risk.
“Our goal has always been to leverage the best available science and technology to protect people, communities and assets,” said Joaquin Ramirez, Founder and Chief Technology Officer of Technosylva. “Joining forces with KatRisk enables us to expand our modeling and analytics capabilities across more types of extreme weather events, providing customers with accurate and actionable insights that are critical to create more resilient societies in a time when extreme conditions have become the new normal.”
KatRisk’s offerings, including SpatialKat and SoloKat, provide precise financial risk simulations for natural disasters, allowing insurance companies to quantify and prepare for catastrophic events like floods, hurricanes and severe convective storms. KatRisk is committed to further expansion into other types of natural disasters to meet insurers’ growing demand for robust and diversified catastrophe models.
“KatRisk’s specialized flood and hurricane models have become indispensable for over 100 of the largest insurance and financial services companies around the world, especially in high-risk areas increasingly impacted by climate change,” said Jeffrey Chen, CEO of KatRisk. “Partnering with Technosylva gives us the opportunity to offer a more integrated platform, including providing access to the leading wildfire models in the world, filling a critical need in the industry, and ensuring customers have the insights and flexibility they need to address their specific challenges and adapt to evolving climate risks. We believe this will be transformative, not only for Technosylva and KatRisk, but for our customers and the communities they serve.”
Technosylva and KatRisk will continue to support and expand their existing suite of products, while also exploring new solutions that leverage their shared expertise and synergies.
About Technosylva
Technosylva is a leading provider of wildfire science technology, operationalizing wildfire science to provide actionable risk analysis and mitigation solutions. Technosylva’s solutions, including Wildfire Analyst, fiResponse and Tactical Analyst, integrate wildfire modeling software into business operations to meet the specific requirements of fire management agencies, electric utility and energy companies, and commercial customers. Today, the company’s risk mitigation platform is used worldwide to manage over 20,000 incidents annually. Founded in 1997, Technosylva has offices in La Jolla, CA, and León, Spain. Learn more at www.technosylva.com.
About KatRisk
KatRisk is a leading catastrophe modeling software company with more than 100 global clients. Founded in 2012, KatRisk quantifies risk from global weather extremes, such as floods, storm surges, hurricanes, hail, wildfires, and tornadoes. KatRisk’s industry leading simulation software platform, SpatialKat, allows customers to model the impacts of climate change, such as sea level rise and changes in extreme precipitation. KatRisk’s unique open data platform and category-leading low execution times make it possible for insurance, reinsurance, and financial services companies to assess potential catastrophe impacts on portfolio management and underwriting decision-making. For more information, visit www.katrisk.com.
