The move will enable KatRisk to leverage the skills and expertise of the Dublin-based organisation.
KatRisk, a US provider of catastrophic risk modelling software to the insurance and financial sectors, has announced the acquisition of Gamma, an Irish location intelligence and property-level risk assessment firm.
The California-headquartered risk modeller was founded in 2012 and works to quantify the risks of extreme global weather conditions, such as floods, storms, hurricanes, wildfires, tornadoes and hail, so insurance, reinsurance and financial companies can make data-driven decisions.
Dublin-based Gamma, which was established in 1993, gives location intelligence and property risk technologies to insurers, lenders and public agencies across a range of industries. KatRisk aims to leverage Gamma’s expertise in property-level visualisation, map-based risk insights, dashboards and enhanced spatial analytics.
Brandon Katz, the EVP of strategy at KatRisk said, “Our acquisition of Gamma is a major step forward in our mission to provide the most comprehensive, high-resolution risk data available.
“By combining our catastrophic risk models across floods, storms and fire with Gamma’s location intelligence capabilities, we will deliver an even more powerful suite of tools that improves risk selection, reduces loss ratios and enhances underwriting efficiency.”
“The combination of Gamma and KatRisk represents an exciting opportunity for our customers and partners,” added Feargal O’Neill, the CEO of Gamma, who explained that the KatRisk partnership will empower Gamma to access a wider range of globally dispersed catastrophe modellers and markets.
Risk modelling is becoming an increasingly important field of expertise as the climate crisis results in more extreme weather conditions, with January 2025 becoming the hottest on record. The EU’s Copernicus Climate Change Service noted that globally January 2025 was 0.79 degrees Celsius warmer than the 1991-2020 average and 1.75 degrees Celsius warmer than the pre-industrial average.
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