Fathom Partners with Reask

to Create Combined Wind, Flood Risk Models for Engineers

A new strategic partnership aims to provide the engineering sector with an unparalleled view of the impact of flood and wind events on energy and transportation infrastructure, communities as well as onshore and nearshore assets.

Fathom, a leading flood risk modelling business is partnering with Reask, a climate risk analytics firm specialized in atmospheric hazard models. The collaboration will initially enable each firm to re-sell the other’s products and services. From 2023, the two companies aim to bring new hazard data maps and loss models to the engineering market, covering the combined perils of flood and wind on a global scale.

Recent events have proved the growing impact of climate change on extreme weather. As a result of this, engineers have a greater need than ever to understand the combined risk of floods and tropical cyclones on existing assets for resilience and adaptation and to future proof new construction projects. This includes understanding how the correlation between flooding and windstorm will change in years to come due to climate change, to determine the impact of potential loss or damage to assets.

“Fathom and Reask share the same values and approach. We’re working towards the same goals and have many shared customers so this partnership was an easy decision for us both,” said Dr Andrew Smith, COO and co-founder of Fathom. “Both organizations are led by scientists, who are committed to being transparent and open about the data, methodologies and machine learning techniques that sit at the heart of our models. This shared  ‘glass box’ approach means that engineers can understand the work our academics put in, enabling them to make more informed decisions more quickly, using the most recent data available.”

Smith continued: “The data Fathom and Reask provide is more precise than what’s currently available to engineers. It will enable them to work more quickly and efficiently, especially when it comes to climate risk analysis, portfolio assessments and any climate resilience and adaptation  projects for existing and future infrastructure, assets and communities.”

Thomas Loridan, CEO at Reask said: “Cyclones bring heavy rains which cause floods. High winds cause tidal surges which increase coastal flooding – understanding the combined risk of wind and flood events will only get more important for engineers as we feel the impact of climate change. Fathom is a world leader in flood risk research and modelling, and working with them to provide a new climate model will be a big benefit to the engineering world and beyond.” 

Fathom is already well established in the engineering sector, and engineering firms have welcomed the news. Matthew Free, director of natural hazard and risk management at Arup said: “Arup works closely with the Fathom team on projects around the world. They are the experts in flood hazards and risk and we greatly value their expertise. Their position in the scientific community and open approach to model and data transparency is unique – we like collaborating with them. We are excited about the combined wind and flood models Fathom and Reask are working on, especially for climate change and coastal adaptation and resilience applications.”

About Fathom 

Founded in 2013, Fathom gives risk management professionals the most scientifically robust tools and intelligence for understanding the climate’s impact on water risk. By publishing cutting-edge peer-reviewed academic research and applying it to real-world challenges, Fathom powers better decision-making for (re)insurance, civil engineering, corporate risk, financial services, disaster response and government. Fathom’s dedicated team of scientists harness their passion for innovation and the environment to develop rigorous catastrophe models and comprehensive mapping and geospatial data that make a real-world difference to customers and communities worldwide.

For more information, visit www.fathom.global. 

About Reask 

Founded in 2018 out of Sydney, Australia and with operations in London and Zurich, Reask is a technology start-up leveraging machine learning and high-performance computing to build the next generation of climate and catastrophe risk management tools. Reask was born out of challenges identified by the (re)insurance industry with how it builds, delivers, and renews catastrophe risk solutions, and the existential threat of a changing climate to all corners of the world.

For more information, visit www.reask.earth.