The rise of niche model vendors (385)

In this episode, Brian Owens is joined by Dana Foley (Head of Catastrophe Research at Chaucer), Joss Matthewman (Chief Revenue Officer at Reask) and Olivia Sloan (Head of Catastrophe Products at Fathom) to explore the growing influence of specialist model vendors in catastrophe risk modelling and why they’re anything but “niche”. With decades of combined experience across underwriting, model development and scientific research, the panel discusses how climate change, regulatory pressure and the need for portfolio-specific insight are pushing insurers to reconsider single-platform dependency. They explore how new vendors are filling gaps left by traditional models offering science-led, transparent and highly customisable solutions tailored to specific business needs. Drawing on their respective roles across the risk ecosystem, the panellists explain why the return to multi-modelling is gaining momentum and how platforms like Oasis are helping democratise access to emerging tools. In this conversation, the panel explores: Why “niche” models are proving critical in underserved perils, regions and use cases The evolution from black-box outputs to transparent, collaborative frameworks How science-first models enable faster innovation and user-driven risk views What’s enabling and blocking wider adoption of multi-modelling approaches How Fathom and Reask are using AI and machine learning to improve model fidelity Why regulatory scrutiny and climate change demand a more agile modelling approach The role of open platforms like Oasis in supporting innovation and vendor access What insurers need to consider when building a tailored, future-ready modelling strategy Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning.