ITC DIA Europe

CLIMATIG: supports underwriting of assets against risks because of climate change 

Written by Jolijn Schalkwijk on Jan 25, 2024

In today’s world, climate change is a significant risk factor for insurers. To mitigate this risk, insurers need reliable and accurate tools to predict and manage climate risk in their portfolios. Currently, insurers have two options for assessing future climate risks for specific locations. The first option is to undertake the complicated and time-consuming task themselves, which involves limited access to relevant climate datasets and maps. Alternatively, they can outsource this task to a third party, which can provide a one-off report that may be expensive, particularly for large asset portfolios. That’s where CLIMATIG comes in – a powerful climate risk prediction tool that can help insurers effectively manage their portfolios. 

CLIMATIG helps insurers to identify, measure, and act against physical climate risks to narrow the protection gap by providing accurately priced policies, for protecting customers, the economy, and their balance sheets. It provides insurance companies with essential Climate Intelligence needed for taxonomy compliance, regulatory ESG reporting and building resilience in their operations. At present, the platform is available to businesses and individual home owners and offers risk calculations for eight climate hazards in Europe and northern Africa until 2100.  

Furthermore, the CLIMATIG platform can help insurance companies develop risk management strategies and products that are tailored to physical climate risks. By better understanding the risks associated with climate change, insurance companies can develop products that are better suited to the needs of their customers and can reduce the likelihood of experiencing significant financial losses. 

How it works

The CLIMATIG platform boasts an intuitive and user-friendly interface. To obtain a reliable climate risk prediction, simply enter an address or select a location on the map, choose the desired hazards and year in the future, and receive the results in just a few seconds based on various climate scenarios as defined by the IPCC. The Portfolio feature offers managerial insight into the data and facilitates quick identification of locations with the highest risk. CLIMATIG is a Software-as-a-Service (SaaS) solution that is licensed on a subscription basis. Its interface is plug-and-play, easy to use, and offers a complete software solution that allows data to be accessed from any device and any location with an internet connection and web browser. Users can access CLIMATIG via the web application or API. 

CLIMATIG’s platform comes with a powerful and intuitive managerial dashboard that offers real-time insights into climate risks at the portfolio level. This dashboard enables decision-makers to quickly identify locations with the highest risks and take appropriate actions to mitigate potential losses. With CLIMATIG’s managerial dashboard, users can easily manage multiple assets and locations, track changes in risk levels over time, and generate custom reports for specific risk scenarios. The dashboard also features interactive charts, maps, and tables that provide detailed information on climate risks, making it easy for decision-makers to understand and interpret the data. 

Why we selected CLIMATIG for ITC DIA Europe? 

CLIMATIG utilizes advanced machine learning algorithms to provide insurers with insights into the potential climate risk exposure of their portfolios. By analyzing large sets of climate data, CLIMATIG can predict the likelihood of various climate-related events and their impact on the insurer’s portfolio.  

Duško Radulović and Alen Šterpin took the stage at ITC DIA Europe Munich and highlighted the effective management of insurers’ assets portfolios with CLIMATIG, plus a live demo showcase on one insurance company portfolio. 


CLIMATIG is an innovative Climate Tech startup founded in Croatia in 2019. Its management team consists of Duško Radulović (CEO) and Alen Šterpin (CSO), who have many years of experience and expertise in the field of climate change. 

To ensure the quality of data, CLIMATIG partners with organizations such as Copernicus, European Space Agency (ESA), Joint Research Centre (JRC), National Oceanic and Atmospheric Administration (NOAA), and OpenStreetMap (OSM). The company also collaborates with other partners such as Infobip (communication platform), Graphite Note (machine learning and analytics), and ImpactHub. 

“At CLIMATIG, we are dedicated to providing exceptional climate-related services that help insurers achieve compliance with the latest EU taxonomy and regulatory ESG reporting. Our cutting-edge climate intelligence empowers insurers to make well-informed decisions about their portfolio’s climate risk exposure and take proactive measures to manage and mitigate that risk.” 

Duško Radulović, Founder and CEO of CLIMATIG 
Amsterdam 12-13 June


00 Days
00 Hours
00 Minutes
00 Seconds
Have a look!
ITC DIA Europe - Amsterdam 2024 - Register here! Purchase now!