Climate risk company Jupiter raises funding from pair of P&C insurers

Jupiter, a predictive data and analytics platform for climate risk, has received an undisclosed investment from a pair of property and Casualty insurance companies.

The round was backed by Liberty Mutual and MS&AD, as well as SYSTEMIQ, a sustainable economic systems developer.

Having closed the round, the company aims to further its “aggressive” expansion plans, which sees it target new geographies and increase its product development.

Jupiter offers a data and analytics service that helps users make informed decisions around events of extreme weather, sea-level rise, storm intensification, and rising temperatures. The ClimateScore solution can give hyper-local risks analysis of weather, hourly through to 50 years time.

Liberty Mutual senior vice president of global risk solutions Brendan Smyth said, “As a global insurer, we see the impact of climate change first-hand as we support our insurance customers in building resiliency and understanding risk.

“Our partnership with Jupiter allows us to better meet the complex risk management needs of our commercial clients by understanding how to successfully identify, mitigate and manage climate-related risks with new insurance products and services.”

Liberty Mutual is already undergoing a pilot with Jupiter to build a new and enhanced risk management solution.

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