Jupiter’s Climate Change Risk Analytics Was Selected from More Than 1300 Submissions
San Mateo, CA --- October 22, 2020 -- Jupiter, the leading provider of predictive data and analytics for climate risk and resilience, announced today that the company had been named as one of the winners of Zurich Insurance Group’s Innovation World Championship, its year-long competition for companies with innovative ideas that seek to solve some of society’s biggest challenges and provide protection from emerging risks. Jupiter’s climate analytics work was nominated for the award, designed to create collaborations between Zurich and insurtechs to bring new ideas and energy to the forefront of the industry.
“We’re pleased to be recognized for our work with Zurich to help incorporate climate change risk into its operational and underwriting practices,” said Rich Sorkin, CEO of Jupiter. “As a world leader in understanding climate-related risk, Zurich is a perfect partner for Jupiter and we look forward to working toward developing new services together and continued innovation.”
Jupiter provides risk modeling that factors in ongoing climate change, anticipating perils like sea-level rise, wildfire, extreme heat and flooding. Jupiter’s analytics have numerous potential applications to benefit both Zurich and its customers.
The winners of the competition aligned with Zurich’s own priorities. Jupiter’s recognition reflects Zurich’s commitment to expanding services that help customers better manage climate risk and improve resilience against it.
“The breadth of ideas introduced during this year’s Zurich Innovation Championship has been very impressive,” said Stuart Domingos, Head of Group Innovation at Zurich. “We look forward to deepening our work with the winners...exploring solutions for our customers, our communities and our business while keeping in mind a more sustainable and efficient future.”
Zurich’s Global Innovation team received more than 1,300 submissions from companies in 43 countries around the world. In February 2020, each region selected the top two finalists to present to Zurich’s Executive Committee. The final decision included CEO Mario Greco and considered how jointly working with Zurich on new concepts would help further drive innovative solutions.
Jupiter is the global leader in data and analytics services to make informed decisions to anticipate risk from extreme weather, sea-level rise, storm intensification, and rising temperatures caused by short, medium, and long-term climate change. Jupiter’s ClimateScoreTM Intelligence Platform provides sophisticated, dynamic, hyper-local, current- hour-to-50-plus-year probabilistic risk analysis for weather in a changing climate. The company’s FloodScore™, HeatScore™, WindScore™, FireScore™, and ClimateScore Global™ services are used for climate-related risk assessment and management worldwide. Jupiter’s models are based on the latest science, as developed by the global Earth and Ocean Systems science community.
Jupiter offers commercial services to asset owners in critical infrastructure, financial services including insurance, banking and asset management, energy and real estate, and the public sector. These customers use Jupiter services for a broad range of applications, including capital planning, risk management, site selection, design requirements, supply chain management, investment valuations, and shareholder disclosures. For more information, please visit jupiterintel.com.