What Renew Risk does

Renew Risk Limited is a London-based B2B SaaS company founded in 2021 that builds catastrophe risk models purpose-built for renewable energy infrastructure, an asset class that traditional cat modelers had not previously covered. The company's product portfolio comprises geographic- and peril-specific models for offshore wind (UK & Ireland Windstorm, European Windstorm, US Hurricane, Japan Typhoon, Japan Earthquake, Taiwan Typhoon, Taiwan Earthquake) and for solar (US Severe Convective Storm, US Hail Alley), built on the Oasis Loss Modelling Framework and deployed via Renew Risk's own cloud (AWS), Oasis SaaS, and Verisk Model Exchange. Supporting modules include the Industry Exposure Database — a global registry of every offshore wind farm asset existing or planned through 2032 — alongside Risk Engineering Reports, Financial Planning Models and Credit Risk Models. AI/ML is applied via a partnership with Vāyuh to generate synthetic storm events and accelerate hazard modelling for solar risk.

The company sells primarily to insurance carriers (underwriters, cat risk managers), energy developers and asset owners, and financial institutions (lenders, capital markets participants) on a quote-based subscription model, using a sales-led enterprise motion with field sales targeting large (re)insurers, supported by inside sales and self-serve demo requests. Named customers and partners include GCube Insurance, Aviva, McGill and Partners, Lloyd's, Nasdaq, Verisk, Molten Ventures, Insurtech Gateway, One Planet Capital and academic partners at the Universities of Surrey, Maine and Strathclyde. To date Renew Risk has raised approximately £6.7 million in venture funding across a £1.7M seed round (September 2023, led by Insurtech Gateway) and a £5M Series A (February 2025, led by Molten Ventures with Lloyd's participation), and is led by co-founder Dr Joshua Macabuag OBE as CEO with co-founder Professor Subhamoy Bhattacharya as Chief Scientific Officer.

Name

Renew Risk

Legal name

Renew Risk Limited

Website

https://renew-risk.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Renew Risk is a London-based B2B SaaS provider of catastrophe risk models built specifically for renewable energy assets, selling subscription analytics to (re)insurers, energy developers and financiers for offshore wind and solar portfolios.

Ownership category

akta.pro rank

Product category

Catastrophe Risk Modelling Software

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Climate Hazard & Catastrophe Modeling (Flood, Wind, Wildfire, Heat, Sea-Level Rise) (EUABALAA)

akta.pro secondary industries

Catastrophe Modeling & Exposure Management (FSAOAIAB), Catastrophe Risk Modeling & Analytics Services (FSAOACAL), Climate Risk Data & Benchmarking Services (Hazard Layers, Loss Databases, Indices/Scorecards) (EUABALAL), Resilience Finance & Risk Transfer Analytics (Parametric Design, Cat Bonds, Public Risk Pools) (EUABALAK)

Keywords

• Catastrophe risk modeling
• Renewable energy insurance
• Offshore wind analytics
• Solar risk assessment
• Climate risk software

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Subscription: Cloud-based access to catastrophe models delivered via subscription. Customers pay for access to proprietary wind and solar risk models along with supporting analytics and reporting tools.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Renew Risk develops and sells SaaS-based catastrophe risk modelling software purpose-built for renewable energy infrastructure, including offshore wind farms and solar farms. The platform delivers physics-based and AI-powered catastrophe models covering perils such as windstorms, typhoons, hurricanes, earthquakes, and severe convective storms across geographies including the US, UK, Europe, Japan, and Taiwan, supported by a proprietary Industry Exposure Database and bespoke Risk Engineering Reports.

Product overview

Renew Risk is a SaaS-based risk analytics platform specialising exclusively in renewable energy infrastructure. Its portfolio comprises two core product lines: (1) Catastrophe Models — a suite of purpose-built nat cat risk models for offshore wind and solar assets covering distinct perils and geographies; and (2) Risk Engineering Reports — bespoke on-demand consultancy reports for specific assets. The catastrophe models include geographic-specific products for offshore wind (UK & Ireland Windstorm, European Windstorm, Japan Typhoon, Japan Earthquake, Taiwan Typhoon, Taiwan Earthquake, US Hurricane) and solar (US Severe Convective Storm Model). Supporting modules include an Industry Exposure Database (global offshore wind asset registry through 2032), Financial Planning Models, and Credit Risk Models. All catastrophe models are built on the Oasis Loss Modelling Framework and are available via Renew Risk's own cloud platform, Oasis SaaS, and Verisk's Model Exchange.

Differentiator

Problem solved

Functional benefit

Products and services

• UK & Ireland Windstorm Model (UKWS) The first catastrophe model designed specifically for offshore wind farms along the UK and Ireland coastline, using at-sea wind speed measurements (not onshore approximations) and explicitly capturing extreme wave impacts for accurate windstorm risk assessment. Built for insurers, energy developers, and financiers evaluating UK and Irish offshore wind assets.
• European Windstorm Model (EUWS) The first catastrophe model purpose-built for offshore wind farms across the European coastline, providing comprehensive windstorm risk assessment using at-sea calibrations and wave impact modelling. Targets (re)insurers, brokers, lenders, and developers with exposure across European offshore wind markets.
• Japan Typhoon Offshore Wind Farm Model Catastrophe model for typhoon risk to offshore wind farms in Japan, combining stochastic and historic event sets with local wave height and wind speed calibrations. Built for insurers, energy developers, and financiers active in the Japanese offshore wind market.
• Japan Earthquake Offshore Wind Farm Model Catastrophe model for offshore wind farms in Japan covering earthquake perils through detailed physics-based modelling of ground shaking, submarine liquefaction, and landslides. Targeted at (re)insurers, lenders, and developers with Japanese offshore wind exposure.
• Taiwan Typhoon Offshore Wind Model Catastrophe model for typhoon risk to offshore wind farms in Taiwan, providing EP, YLT, ELT loss metrics with full exposure, vulnerability, and financial module coverage including turbines, cables, and substations.
• Taiwan Earthquake Offshore Wind Model Catastrophe model for earthquake risk to offshore wind farms in Taiwan, covering shaking, landslide, and liquefaction perils across turbines, cables, and substations.
• US Hurricane Offshore Wind Model Catastrophe model covering hurricane risk for offshore wind assets on the US East Coast, modelling extreme weather, component damage probabilities, and business interruption.
• US Solar Model (Severe Convective Storm) The first catastrophe model purpose-built specifically to model severe convective storms for US solar farms, covering hail, tornadoes, and straight-line wind. Developed in partnership with Vāyuh using machine-learning hazard modelling and asset-specific vulnerability functions, with detailed asset value distribution, TIV, and business interruption calculations.
• Risk Engineering Reports Bespoke on-demand intelligence reports on risks to nominated renewable energy assets or portfolios, prepared by the company's scientists. Covers scenario losses, business interruption costs, natural catastrophe exposure, and vulnerabilities specific to infrastructure design and materials for onshore wind, offshore wind, solar farms, and interconnectors.
• Industry Exposure Database (IED) A live geospatial intelligence platform providing data on every offshore wind farm asset in the world - existing or planned through 2032 - across the US, Taiwan, Japan, UK, and Europe. Covers asset value distributions, total insured value, cost of repair, and business interruption calculations. Updated monthly.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability3 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• VāyuhcoreStrategic or Co-development PartnerVāyuh is an AI-powered catastrophe modelling firm. The partnership focuses on developing the US Solar Model, combining Renew Risk's renewable energy expertise with Vāyuh's AI capabilities for enhanced solar catastrophe risk assessment.
• NasdaqcoreTechnology or IntegrationRenew Risk's catastrophe models have been integrated with Nasdaq's catastrophe modelling platform. This integration provides Nasdaq's customers with access to Renew Risk's specialized offshore wind and solar risk models through a major industry platform.
• AvivacoreStrategic or Co-development PartnerAviva, a major UK-based insurance company, is collaborating with Renew Risk on the development of UK & European windstorm models. This partnership provides Aviva with specialized cat models for renewable energy underwriting while contributing to model development.
• GCube InsurancecoreStrategic or Co-development PartnerGCube Insurance, a specialist insurer for renewable energy assets, has adopted Renew Risk's offshore wind insurance model. This adoption demonstrates commercial validation of Renew Risk's specialized catastrophe modeling capabilities.
• Oasis Loss Modelling FrameworkcoreTechnology or IntegrationThe Oasis Loss Modelling Framework is an open-source catastrophe modeling platform. Renew Risk's models are built on or integrated with Oasis, providing industry-standard access to their proprietary renewable energy risk models.
• University of SurreysupportingOthersUniversity of Surrey is a research partner providing academic support for catastrophe modeling research and development. The partnership contributes expertise and research capabilities to enhance Renew Risk's modeling methodologies.
• University of MainesupportingOthersUniversity of Maine is engaged as a research partner contributing to Renew Risk's catastrophe modeling research and development efforts.
• University of StrathclydesupportingOthersUniversity of Strathclyde serves as a research partner providing academic expertise and research capabilities to support Renew Risk's catastrophe modeling development.
• Amazon Web Services (AWS)supportingOthersAWS provides cloud infrastructure supporting Renew Risk's SaaS platform and model delivery. AWS cloud services enable scalable and reliable access to catastrophe models for customers.
• RiskLayersupportingTechnology or IntegrationRiskLayer operates as a commercial partner providing supplementary catastrophe risk data and modeling capabilities that complement Renew Risk's renewable energy-specific models.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Moody's RMS: Moody's RMS is the largest independent catastrophe modeling firm, providing risk models for natural perils used by (re)insurers globally. It is the most direct competitor to Renew Risk's catastrophe modeling offering, with overlapping buyers (insurance carriers) and overlapping peril/methodology approaches, though RMS covers a much broader asset and peril universe rather than specializing in renewables.
• Karen Clark & Company: Karen Clark & Company (KCC) is an independent catastrophe risk modeling firm serving insurers and reinsurers with high-fidelity models for hurricanes, earthquakes, and severe convective storms. KCC is a direct competitor in the catastrophe modeling space with a similar client base to Renew Risk, although it focuses on broader property cat risks rather than renewable-specific exposure.
• JBA Risk Management: JBA Risk Management is a specialist catastrophe modeling firm focused on flood and storm modeling, providing risk analytics to insurers, governments, and financial institutions. It is comparable to Renew Risk as an independent specialist catastrophe modeling firm with overlapping (re)insurer clients, though JBA's asset and peril focus differs.

Broad incumbents

• Verisk: Verisk is a major data analytics and risk assessment firm whose ISO/Extreme Event Solutions unit offers industry-standard catastrophe models and hosts the Model Exchange platform on which Renew Risk's models are also distributed. Verisk is a broad incumbent in the same space as Renew Risk, with much larger scale, broader product portfolio, and entrenched (re)insurer relationships — both a partner (via Model Exchange) and a competitor.
• CoreLogic (now part of Stone Point/ICE): CoreLogic provides property data, analytics, and natural hazard risk modeling used widely by US insurers and lenders. It is a broad incumbent in catastrophe and property risk analytics comparable to Renew Risk's buyer base, although CoreLogic's asset coverage is much broader than Renew Risk's renewable-specialist niche.
• Impact Forecasting (Aon): Impact Forecasting is Aon's catastrophe modeling unit, developing natural hazard models for use across Aon's broking and advisory business. It is a broad incumbent in catastrophe modeling, with overlapping insurance-carrier buyers and natural-peril modeling, though it operates within a much larger reinsurance brokerage parent.
• Guy Carpenter: Guy Carpenter is a leading global reinsurance broker and advisory firm with extensive catastrophe risk analytics capabilities serving (re)insurers. It is comparable to Renew Risk in serving reinsurance decision-makers with catastrophe risk analytics, though as a broad incumbent across all perils and asset types rather than a renewable specialist.
• Swiss Re: Swiss Re is one of the world's largest reinsurers, operating proprietary internal catastrophe modeling teams and underwriting renewable energy risks. It is comparable as a major buyer of catastrophe analytics and a producer of in-house cat models, representing both a potential customer and a competitor to Renew Risk's specialist models.

Emerging players

• Vāyuh: Vāyuh is an AI-powered catastrophe modeling firm whose physics-AI engine Renew Risk uses to generate synthetic hail and severe convective storm events for its US Solar Model. Vāyuh is comparable as an emerging technology-led player in catastrophe modeling with overlapping capabilities and a direct co-development relationship.

Others

• Oasis Loss Modelling Framework: Oasis LMF is an open-source, industry-owned catastrophe modeling platform on which Renew Risk's models are built and distributed. Oasis is comparable as the underlying platform/ecosystem for catastrophe modeling and provides Renew Risk with industry-standard distribution access.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/renewrisk

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds2 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Renew Risk