Climatica

Climatica is an European insurtech which uses machine learning models to build parametric insurance products. Our founding team comes from a highly selective background (hedge fund/BCG/insurance/pharma/unicorn fintech). We build parametric insurance products which protect against a number of scenarios related to weather. For example - heavy rainfall, low temperature or lack of sunlight. These solutions are meant for weather-sensitive operations, such as travel, renewable energy and agriculture. Our products rely on novel methods of data analytics, rarely used in traditional insurance companies. We can cover areas of risk overlooked by other companies and can facilitate immediate payouts. We have already created the first product in Poland based on this technology in a partnership with a leading European insurer, and are working with 2 additional insurers on travel and renewable product roll outs. Climatica addresses the problem of the global increase in climate related economic loss (over 2x increase in the last 20 years), and the global protection gap in insuring against such events (i.e., income loss not covered by insurance), which reached close to $200B in 2020.