LONDON – 13 July 2021 – Exoshock Ltd (Exoshock) and AkinovA Ltd (AkinovA), announce a partnership to bring a new way for AkinovA’s clients to value risk transfer products for environmental, catastrophe and supply chain applications. Exoshock combines its proprietary exogenous shocks and macroeconomic risk impact analytics based on research spun out from Cambridge with cleaned datasets of hundreds of variables for 212 countries analysed by artificial intelligence and systems modelling.
Exoshock’s platform can model short-term physical and long-term transition risks. Those include the impact of hurricanes, floods and droughts on food security and infrastructure as well as risks associated with the transition towards a lower carbon intensity energy landscape. In addition, Exoshock’s platform offers risk assessment and scenario planning tools for multiple markets including ESG and cyber-risks which have an impact on economic performance and, as a result, insurance. The platform has also the capacity to access Business Interruption impacts on areas like Global Supply Chain.
Exoshock’s platform and tools can be invaluable in forecasting the financial and economic impacts and analysing shocks caused by large-scale cyber disruption across Regions, Countries or industries caused by Cyber or Ransom-ware attacks of the type recently experienced.
Barry McGovern, the Founder of Exoshock, said “we see numerous opportunities to bring Exoshock’s unique approach to modelling non-linear systems incorporating feedback-loops typical of complex system such as the world we live in. In contrast to standard econometric models which consider past trends and variability and assume future behaviour will follow the past, our approach is to model cascading shocks caused by trade deals, civil unrest, geopolitical complications, weather, climate change, pandemics, infrastructure mismanagement, and cyber- attacks. All these shocks have the potential to significantly impact both industry and society. We think that AkinovA’s approach to electronic risk transfer combined with fostering a rich ecosystem of third-party data and analytics to their client is the right way to proceed.”
Dr Henri Winand, CEO and Co-Founder of AkinovA said “Exoshock is a natural fit for us as part of our ecosystem of partners. Our goal is to enable our clients to interact with a range of data, analytics and service providers. This unlocks new risk transfer products better informed by different ways to understand and quantify risks. Recent shocks to the world economy tell us that gaining a better understanding of such shocks is especially important when it comes to insurance and risk transfer products in general.
Exoshock’s unique Systems Dynamics platform is able to model many thousands of parameters causally connected to each other by many millions of resource links, with full feedback modelling taking into account resource constraints. Thus, the impact of exogenous shocks and their propagation through any region, supply chain or industry can be delivered. Model outputs are delivered either via dashboards or API data feeds via Cloud platforms.
Exoshock is a unique risk and analytics platform utilising system -dynamics modelling. The Exoshock model is capable of ingesting multiple streams of data and provides a range of what-if and impact valuation scenarios that enable parties to understand their risk exposure to specific shocks such as - trade -deals, civil unrest, geo-political complications, weather, climate change, pandemics, and infrastructure mismanagement. Plus, Exoshock can provide critical analysis on the impact of Cyber and Ransome-ware attacks on business, sectors and countries. The know-how underpinning the model was initially created at The Global Sustainability Institute in Cambridge and then commercialised with help from Harvard and MIT.
For more information, please go to: www.exoshock.com, email firstname.lastname@example.org or phone +44 (0)7887841100
AkinovA is an independent electronic marketplace for the transfer and trading of re/insurance risk which is regulated in Bermuda. The marketplace is a regulated electronic environment where insurance, reinsurance and ILS risks can access new sources of capacity as well as increase the efficiency of transferring and trading re/insurance risks in the primary and secondary markets. AkinovA also offers re/insurance service providers an additional channel to share their models, data and expertise with market participants. AkinovA is working with the existing re/insurance value chain to grow the overall market.
AkinovA operates with the regulatory oversight from the Bermuda Monetary Authority (BMA).
For more information, please go to: www.AkinovA.com, email enquiries@AkinovA.com or phone +44 (0)20 8012 8172