Risk Explorer

Open-access educational catastrophe risk tool for parametric insurance use-cases

Funded by the Insurance Development Forum (IDF) and supported by Oasis LMF, the Risk Explorer is a free and open-access catastrophe modelling application that demonstrates how to estimate losses using the fundamental components of catastrophe modelling - hazard, exposure, vulnerability - and apply them to a parametric insurance use-case. The tool is currently able to model worldwide tropical cyclone, as well as specific sub-regions for earthquake. Drought/weather index functionality is following in April 2024.

The application is intended primarily as an educational resource for those learning about catastrophe modelling; however, it may have certain operational uses given it leverages real-world hazard data dating back multiple decades and uses an actuarial simulation engine to provide a view of risk on tropical cyclone parametric covers anywhere in the world. The tool can be accessed at the following link: https://idf-rmsg.shinyapps.io/oasisriskexplorer/