Renew Risk

🚀 Big news from Renew Risk! We’re thrilled to announce that Renew Risk has raised £5 million in a funding round led by Molten Ventures, with participation from Lloyd's of London, and existing investor Insurtech Gateway. Details here - https://lnkd.in/dQEiRGTJ and https://lnkd.in/d6_Z5Z8k This funding is a huge step forward in our mission to revolutionise risk modelling and analytics for renewable energy assets such as offshore wind farms and solar farms, empowering stakeholders to navigate complex risks. 🌍⚡ Our cutting-edge solutions provide unmatched insights to (re)insurers, brokers, developers, and asset managers—helping them make data-driven decisions for resilient coverage and investments. Here’s what our CEO and Co-Founder, Ashima Gupta, had to say: "We are thrilled to have the support of Molten Ventures and Lloyd’s of London, two powerhouses in innovation and insurance. This investment will accelerate our ability to build sophisticated risk models for the renewable energy sector, empowering stakeholders to navigate the complex challenges of disaster risk with confidence." The investment will help us: ✅ Enhance our proprietary risk modelling suite ✅ Expand our team of experts ✅ Extend our global market reach A big thank you to our investors, partners, and clients for believing in our vision. Together, we’re shaping the future of renewable energy! 💚🌟 George Chalmers, CFA Mohadeseh A. Oliver Pink Richard Chattock Hannah Leonard Stephen Brittain Dom Nolan Robert Lumley Warren Clegg Jatinder Singh Amit Sharma Chris Adelsbach Victoria Peppiatt Gaurav Chawla Prof Subhamoy (Suby) Bhattacharya Joshua Macabuag FREng MICE Ashima Gupta Aaron Bent Ingrid C. Raphael Bidinger José M. Moratalla Campuzano Özlem Tok KasiViswanadh Ganga Prakhya Athanasios Gkimprixis Catherine Tillyard Tom Sexton James Havard - CCRMP Fraser McLachlan Sayan Bhattacharyya Will Lovegrove William Mortimore Jenny Ritchie Jim Shaikh M Ross Manning Rishabh Kaul John Spindler

Innovation is a huge part in our work at Renew Risk. But how do we build confidence in these innovations? Earlier this month, our CEO Ashima Gupta joined a Climate Evening panel hosted by Insurtech Gateway, sharing her thoughts on this question to a packed audience in the Old Library at Lloyd's of London. Keep watching to hear her thoughts. Thanks to all who attended and got involved during the Q&A, and to the fellow panellists for sharing your insights - Ana Raposo, Natalia Dorfman and Richard Chattock. And thank you Hannah Leonard and Stephen Brittain for organising a fantastic event. Interest in hearing more from Ashima on how Renew Risk is navigating the insurance market? Read a full event summary: https://lnkd.in/eaYjyfYx

A few days ago, Goldman Sachs released a report on 'The Structural Solar Surge' exploring the drivers behind the rapid growth of the solar sector, despite a reduction in policy support from multiple countries. Included in the report is a visualisation of just how quickly solar has grown, in comparison to other forms of electricity generation. With such a rapid impact on energy generation - contributing 8% of global power generation in the past 12 months - it's clear that solar is expected to play a key role in the world's future energy supply. But key to future-proofing solar is the ability to manage the risk natural catastrophes pose to solar infrastructure. From conducting detailed, site-specific risk assessments to leveraging advanced natcat modelling, understanding exposure is critical. Read a summary of the report in the Financial Times: https://lnkd.in/gUsScTEn

New research paper published!  How can offshore wind farms be built and maintained in liquefaction-prone areas? A new research paper, co-authored by our Chief Scientist, Prof Subhamoy (Suby) Bhattacharya, alongside Rajib Sarkar and Kingshuk Jana explores the topic, focusing on the seismic fragility of offshore wind turbines placed along the Indian coastline. The comprehensive study explores the deployment of different-sized offshore wind turbines in the Indian coastal region and the stringent structural design and engineering measures needed to ensure resilience against any seismic event. The work was carried out in collaboration with IIT(ISM), Dhanbad, where the project applied advanced dynamic modelling techniques that are directly aligned with the methodologies Renew Risk uses in its own catastrophe models. We are particularly proud because this research now serves as a valuable reference for our documentation, reinforcing the scientific integrity of our model assumptions and fragility curves. Bridging academic insight with practical application is core to what we do at Renew Risk — and this milestone further strengthens our commitment to science-backed renewable risk intelligence. Read the full research paper: https://lnkd.in/gw9PS5tk #RenewableEnergy #OffshoreWind #Insurance #Innovation #RiskManagement #IndiaWind #CatastropheModelling 

We recently completed a comprehensive Probable Maximum Loss assessment for a proposed HVDC submarine interconnector in Japan. While these cables are subjected to many risks - from ship anchors to dredging activities - we were commissioned to focus on natural hazards known for their high intensity in the region: #earthquakes and #typhoons. Japan lies at the convergence of four major tectonic plates, making it one of the most seismically active regions in the world. Fuelled by warm ocean waters, the country's long island chain is also frequented by typhoons each year, often bringing intense rainfall and strong winds. Interested in discovering what our Risk Engineering report discovered? Get in touch at [email protected] to request a copy of our overview for this project. #ProbableMaximumLoss #RiskReporting #Interconnector #SubseaCables

When hailstorms damage solar panels, the impact visible to the naked eye only tells part of the story. Using additional tools like electroluminescence (EL), we can identify how micro-cracks lead to inactive regions on the panel. This real-world validation is part of our approach, with experts like Professor Deb Roy of Swansea University working with Renew Risk to reproduce hail-equivalent impacts for a range of velocities and angles, helping to better predict where stress concentrations will form. Click through to see the high-resolution EL images before and after impact 👇

Last week, those of you with eagle eyes may have spotted Aditya Joshi in our team week pictures - please join us in officially welcoming Aditya as our newest Catastrophe Model Developer. Aditya has spent the past 5+ years working in catastrophe model development for organisations including WTW and Gallagher Re, where he worked on development for numerous perils - from European floods to wildfires and severe convective storms in the US. At Renew Risk, Aditya will continue to focus on catastrophe model development, applying his expertise to our growing portfolio of products. On joining us, Aditya said: "Renew Risk is solving problems that no other vendor models are addressing on such a granular level. I feel priveleged to join such an amazing team with a wide range of expertise, and love to be part of a company whose mission directly supports our global energy transition." Welcome aboard, Aditya!

It's day 4 of our Renew Risk team week and we've gone back to basics with: ✨ A tour of Lloyd's of London (our HQ), diving into the market's history and global reputation ✨ In-person info sessions for clients ✨ An overview of different perils for our new starters and non-technical team members. Not to mention the many hackathons, brainstorms and planning sessions our science and product teams have spent the past 2 days undertaking. We may be on day 4, but we certainly aren't running out of steam!

We're 2/3 of the way through day 2 of our Renew Risk team week, and what a week it's already shaping up to be. Today, the focus is on our models - from delving into our 'secret sauce' (with plenty of cooking references by Ingrid C.) to exciting updates from our science and product teams on the innovative new projects in the pipeline... watch this space!

This week, we have the whole team gathered in London for five days of discussions, brainstorms, presentations and planning. For our latest batch of new joiners, it's also a great opportunity to meet everyone in person - an increasingly uncommon onboarding process in a landscape where hiring is an international endeavour! Please join us in giving a warm welcome to: ⭐ Georgios Deskos, PhD - Principal Exposure & Risk Engineer ⭐ Aditya Joshi - Catastrophe Model Developer (more info to come!) ⭐ David Vicary - Technical Product Lead (more info to come!) ⭐ Abhirup Bhattacharya - Catastrophe Model Developer Stay tuned for more updates over the week, as we delve into our success stories, deep-dive into modelling updates and, most importantly, eat our way through London's culinary offering 🍽️