Praedicat, the emerging-risk analytics and liability modeling company, is delighted to have been named the insurance sector’s Catastrophe Modeling Firm of the Year at the Inside P&C Honors at Guastavino’s in New York this week. It is the first time a casualty catastrophe modeler has received this award.
“Ten years ago, we launched Praedicat to combine the tracking of casualty emerging risks with the rigorous quantification of catastrophe modeling,” said Praedicat CEO and co-founder Robert Reville. “The new approach clearly served a market need, and over the next ten years, we have been embraced by nine of the ten largest commercial lines underwriters in the US. Today’s recognition signals that casualty catastrophe modeling has really come of age.”
Reville continued: “I’d like to thank our team of innovators, whose hard work and commitment have created a new discipline of modeling. Further thanks to all our clients, and especially those who came in early on. They believed we were onto something that would be truly valuable for their companies and the industry. Equally, I’d like to thank our investors, who also believed in us – enough to put their money behind our vision and ensure we could make a difference. Many thanks as well to the judges and to Inside P&C for the accolade.”
Julia Fuller Nakayama, Praedicat’s Senior Vice President, Account Management, said: “It was a fantastic night, and an incredible honor to be chosen, especially considering the impressive accomplishments of the other nominees. I hear from clients every day that the modeling work we do fills a gap in knowledge and helps to level the playing field for casualty underwriters. Ultimately it increases awareness of the dangers hidden in some everyday products and substances. In areas like the impacts of climate change, for example, I genuinely believe our work has benefits for people which extend well beyond the insurance sector, so achieving this wider recognition is a real bonus.”
Praedicat warmly congratulates all the winners and especially the other short-listed modelers, CyberCube, Karen Clark & Co., and Risk Management Solutions.