Insurtech Reask appoints David Schmid as Head of Parametrics

Reask, which uses natural catastrophe modelling to help insurers understand climate risk, has appointed David Schmid as its new Head of Parametric Products

Reask, a global insurtech that provides natural catastrophe modelling to help insurers understand climate-related risk, has appointed David Schmid as its new Head of Parametric Products.

Schmid brings with him a wealth of experience, including most recently as senior structurer at Munich Re Capital Partners where he led the development of parametric nat cat solutions. He also spent four years as a pricing actuary and nat cat modeller for Munich Re’s subsidiary, NewRe, where he helped develop data analytics tools for underwriting units within the Munich Re Group of companies.

His appointment will help Reask to turbocharge its growth within the world of parametric insurance. The company says it is on track to become the “leading provider” of next-generation nat cat modelling solutions worldwide, trusted by insurers such as Swiss Re and AXA. Reask recently raised significant funding from the technology giant Tencent, and it expects parametrics to play an increasingly significant role within its overall business.

Parametrics ‘more than just a complement to indemnity’

Jamie Rodney, CEO of Reask, says: “Reask’s Artificial Intelligence modelling technology is enabling robust risk transfer of natural catastrophe exposure globally. David’s hire represents a core component of our strategic positioning as we continue to develop innovative modelling solutions to support the needs of our parametric insurance customers and prospects. His expertise will continue to drive our state-of-the-art technology forward to support the journey towards climate resilience.”

Schmid himself says: “Reask has a deep understanding of hazards based on atmospheric conditions to account for the non-stationarity of climate. By incorporating this into its novel natural disaster models, Reask combines sound risk assessment and automatic payout calculation into one innovative product. I look forward to helping the team meet growing demand for parametric insurance solutions that deliver far more than just as a complement to traditional indemnity coverage.”


Featured Articles

Insurtech Bdeo’s CEO talks digital transformation & adoption

Julio Pernía Aznar, CEO and co-founder of Bdeo, discusses the insurance market predictions for 2023 and beyond, for digital adoption

Insly's Risto Rossar on the outlook for low-code software

Risto Rossar, Founder and CEO of low-code provider Insly, talks about the state of digital transformation in insurtech and what to expect from the future

Top 10 insurtech investment funders of 2023

The growth of insurtech has been driven by market demand and the power of investment. We round up the top 10 insurtech funders scaling the industry

FOUR leading usage-based insurance trends for the year ahead


INSTANDA CEO & Founder talks career moves & insurtech growth


10 benefits ERP technology brings to the insurance industry

Technology & AI