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KatRisk adds new wildfire risk modelling using physics-based science

The updated platform aims to better represent how ignitions, fire spread, and intensification translate into insurance losses under changing environmental conditions, rather than relying on historical loss data alone.

Reported · Written up by our desk · Reinsurance

KatRisk, a catastrophe risk modelling and analytics provider for insurers and reinsurers, has introduced a new generation of wildfire risk capabilities built to provide more detailed assessment of wildfire exposure. The company said the solution pairs Technosylva’s physics-based wildfire science with KatRisk’s catastrophe modelling and portfolio analytics technology.

KatRisk said the launch reflects demand for more advanced wildfire evaluation as fires become more severe and less predictable. The company added that traditional methods often lean on historical loss data and static hazard maps, which it says may not fully capture shifting wildfire conditions.

According to KatRisk, its approach models how fires ignite, spread, intensify and ultimately lead to financial losses under evolving environmental factors. The models consider fuel conditions, terrain and slope, weather and wind effects, time-varying wildfire behavior, smoke and off-footprint impacts, fire spread through urban areas, and wildfire exposure accumulation across portfolios and geographies.

The platform is built on Technosylva technology developed over more than three decades, which KatRisk said is used by 40 major utilities, including about 80% of the Fortune 500, and by organizations such as CAL FIRE and the US Forest Service. KatRisk’s General Manager Martyn Sutton said wildfire risk is no longer “stationary,” and that integrating operational fire behavior science into catastrophe analytics can help insurers identify where catastrophic conditions may emerge next.

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