CelsiusPro partners with Global Earthquake Model (GEM) Foundation to enhance earthquake modeling capabilities and products
As part of its strategy to continuously improve its products and services through ongoing investment in research and development, CelsiusPro has partnered with the internationally recognized Global Earthquake Model (GEM) Foundation.
CelsiusPro, the Swiss boutique InsurTech company, has been pioneering parametric insurance solutions since 2008, helping its clients mitigate the effects of extreme weather and natural catastrophes worldwide.
Established in 2009 in Pavia, Italy, GEM is funded by public and private institutions globally, and is advised by many international organizations. Recognized by the UN as an NGO, its mission is to become one of the world’s most complete sources of risk resources and a globally accepted standard for earthquake risk assessment.
“Our partnership with industry leader GEM is a natural consequence of our aim to continuously improve our natural hazard modeling capabilities serving our clients with know-how and technologies for risk analysis and parametric insurance design.” says CelsiusPro CEO Mark Rueegg.
Based on GEM models, CelsiusPro generates stochastic long-term earthquake catalogs and corresponding shake maps for different ground motion parameters. “Our modeling approach encompasses the entire possibilities of earthquake occurrences over long time periods while assuring consistency with the shake maps produced by the United States Geological Survey (USGS) explains Dr. Alireza Khodaverdian, Earthquake Risk Specialist at CelsiusPro.
“Our organizations are bound by a shared vision for a safe and disaster-resilient world,” says John Schneider, GEM Secretary General. “For GEM, this partnership provides an excellent opportunity to apply GEM’s models and data for new risk financing opportunities that will contribute to risk-reduction objectives. At the same time, we also see this as an opportunity for sharing and exchanging scientific knowledge in processing and analyzing risk data and modeling approaches with CelsiusPro in the years ahead.”
If you would like to receive more specific information about CelsiusPro's parametric earthquake products, please contact us here.
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For more information about the GEM Foundation, please click here.
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