KatRisk, a specialist in catastrophe risk modelling, has acquired Symfos, a UK-based company known for its Orchestra underwriting and portfolio management platform. Financial details of the transaction were not disclosed.
Symfos develops software for the reinsurance sector, focusing on catastrophe risk pricing, portfolio management, and exposure analytics. The acquisition combines KatRisk's climate and catastrophe analytics with Symfos' technology, which helps insurers utilize risk data in underwriting and portfolio decision-making.
The integration aims to support insurance and reinsurance providers in addressing challenges from natural hazards. The companies stated that the partnership will help streamline the use of risk data across exposure management, underwriting, and executive reporting.
The Orchestra platform offers a consolidated view of portfolio risk and supports dynamic pricing and rapid scenario analysis. It allows users to work with various catastrophe models, and KatRisk's products will be incorporated into the platform.
Symfos CEO Bao Cam said, "We are joining a group of companies that share our values and our ambition. This acquisition gives Symfos the scale and support to grow while staying true to our philosophy of openness and our customer-first approach."
With this acquisition, KatRisk intends to simplify how model outputs are interpreted and applied in underwriting and financial contexts. Clients will have access to more flexible reporting tools, ranging from high-level summaries for executives to detailed, location-specific analysis.
KatRisk noted that combining its modelling capabilities with Symfos' technology would reduce dependence on separate tools and manual processes, potentially improving workflow efficiency and decision quality.
KatRisk general manager Martyn Sutton said, "Symfos has built a powerful platform that helps insurers turn complex risk data into meaningful decisions. By bringing our teams and technologies together, we are making it easier for customers to bring clarity to complex risk and support more confident decision-making."
This follows KatRisk's purchase last year of Gamma, an Irish company focused on property risk assessment and location intelligence.