RED Risk Engineering + Development
RED Risk Engineering + Development is a Pavia, Italy-based boutique risk engineering firm that builds probabilistic natural catastrophe risk models (earthquakes, floods, tropical cyclones, drought) for insurers, sovereigns, and international organisations, and serves as Risk Manager Specialist for CCRIF SPC's 17 member governments.
- Company typePrivate
- Founded2008
- HeadquartersPavia, Italy
- Headcount11–50
- GTM typeB2B
- OfferingServices
RED Risk Engineering + Development firmographics
Firmographics- Name
- RED Risk Engineering + Development
- Legal name
- RED Srl
- Website
- https://redrisk.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- RED Risk Engineering + Development is a Pavia, Italy-based boutique risk engineering firm that builds probabilistic natural catastrophe risk models (earthquakes, floods, tropical cyclones, drought) for insurers, sovereigns, and international organisations, and serves as Risk Manager Specialist for CCRIF SPC's 17 member governments.
- Ownership category
- akta.pro rank
RED Risk Engineering + Development industry classification
Industry- Product category
- Catastrophe Risk Assessment Services
- NAICS
- Engineering Services (541330), Environmental Consulting Services (541620), Research and Development in the Physical, Engineering, and Life Sciences (except Nanotechnology and Biotechnology) (541715)
- SIC
- Services-Engineering, Accounting, Research, Management (8700), Services-Engineering Services (8711), Services-Commercial Physical & Biological Research (8731)
- akta.pro primary industry
- Climate Hazard & Catastrophe Modeling (Flood, Wind, Wildfire, Heat, Sea-Level Rise) (EUABALAA)
- akta.pro secondary industries
- Climate Risk Data & Benchmarking Services (Hazard Layers, Loss Databases, Indices/Scorecards) (EUABALAL), Catastrophe Modeling & Exposure Management (FSAOAIAB), Resilience Finance & Risk Transfer Analytics (Parametric Design, Cat Bonds, Public Risk Pools) (EUABALAK)
Keywords
Where RED Risk Engineering + Development is headquartered
LocationHeadquarters
- HQ city
- Pavia
- HQ country
- Italy
- HQ region
- Europe
Offices1 record
Markets served
RED Risk Engineering + Development business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Risk Assessment Consulting Services: Highly specialised consulting services in the field of Risk Assessment for natural and man-made disasters. Services include risk models development, national-scale risk assessment studies, and rapid loss estimation tools and platforms.
- Services for Insurance Industry: Development of loss models for parametric insurance programmes, near real-time tools for disaster risk financing mechanisms, web-based monitoring services, and independent calculation agent services for the insurance industry.
- Software Platform Licensing: Pan European Earthquake Risk Model available on ERN's R-PLUS platform and Oasis Platform for insurance industry use. Loss Estimation System providing Ground-Up, Gross, Retained losses, AAL, PML, Ruin Probability, Critical Scenarios, Excess Loss metrics.
- Exposure Datasets: Production and provision of case-specific databases of exposure (population, buildings, etc.) at several levels of spatial and administrative aggregation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom consulting services with bespoke pricing |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
RED Risk Engineering + Development product offering
Product offeringCore offering
RED Risk Engineering + Development provides specialised catastrophe risk assessment consulting services for natural and man-made hazards, including earthquakes, floods, droughts, tropical cyclones, excess rain, and tsunamis. The firm develops proprietary catastrophe risk models, parametric insurance structures, and harmonised exposure datasets that are delivered to insurance and reinsurance companies, governments, and international organisations. RED also provides vulnerability analysis, hazard modelling, and exposure data services alongside bespoke software platforms such as HYPERION and the Climate Risk Analytics Suite (CRAS).
Product overview
RED Risk Engineering + Development is a specialised risk consulting firm offering a portfolio of catastrophe risk models and professional services. The core products include the Pan European Seismic Risk Model (covering 44 European countries), the XSR (eXcesS Rain) Risk Model, Drought Risk Model, and SPHERA tropical cyclone model for Caribbean and Central America, plus the HYPERION cultural heritage assessment platform (EU-funded). These are complemented by professional services including risk assessment consulting, insurance industry services, vulnerability analysis, hazard analysis, and exposure dataset production. The models integrate with external platforms including OASIS LMF, OpenQuake, CAPRA, and R-PLUS for loss estimation and risk analysis.
Differentiator
Problem solved
Functional benefit
Products and services
- Risk Assessment Services Bespoke multi-hazard risk assessment consulting covering earthquakes, floods, droughts, tropical cyclones, excess rain, and tsunamis; delivered to insurance companies, governments, and international organisations needing quantitative catastrophe loss estimation.
- Services for the Insurance Industry Specialised consulting services for insurance and reinsurance companies, including risk transfer, portfolio risk evaluation, reinsurance pricing support, and integration of natural catastrophe models into underwriting workflows.
- Vulnerability Analysis Engineering and statistical analysis of physical asset vulnerability to natural hazards, supporting building-specific and portfolio-level loss modelling for insurers and risk pool operators.
- Hazard Analysis Stochastic and deterministic hazard modelling for earthquakes, tropical cyclones, drought, excess rain, and floods, including event catalogue generation and intensity mapping at sub-national scale.
- Exposure Datasets Harmonised geocoded exposure data products, including the pan-European 30 arc-second harmonised exposure database for earthquake risk modelling and equivalent datasets for drought, tropical cyclone, and excess rain perils.
- Pan European Seismic Risk Model Proprietary pan-European earthquake catastrophe model built on a 30 arc-second harmonised exposure database and state-of-the-art hazard component, designed to deliver consistent, transparent loss estimates across European countries for insurers, reinsurers, and risk pool operators.
- XSR (eXcesS Rain) Risk Model Excess rain catastrophe model covering European peril, integrating hazard, exposure, and vulnerability components to estimate flood-related losses for insurance and reinsurance portfolios.
- SPHERA Tropical Cyclone Model Probabilistic tropical cyclone model that couples atmospheric wind fields with storm surge to produce hazard and loss outputs for Caribbean and Central American risk pools and insurance markets.
- Drought Risk Model Catastrophe drought model for Caribbean and Central American markets, designed to inform parametric drought insurance triggers and sovereign risk transfer structures.
- HYPERION Integrated Resilience Assessment Platform Software platform for integrated climate, multi-hazard, and resilience assessment that quantifies risk reduction benefits of adaptation measures and supports resilience investment planning.
- Climate Risk Analytics Suite (CRAS) Software suite that combines natural catastrophe risk models with climate scenario analysis to support global and corporate climate risk reporting and disclosures.
- Stochastic Event Catalogues Probabilistic catalogues of natural catastrophe events (e.g., tropical cyclones, earthquakes) used as input to catastrophe models, produced and licensed to insurers, reinsurers, and risk pool operators.
- Real-time Multi-hazard Web Monitoring Platform Web-based monitoring tool that displays ongoing natural hazard events (excess rain, tropical cyclones, earthquakes) and supports parametric trigger monitoring for risk transfer transactions.
Quantifiable outcome
- 36 payouts totaling US$130.5 million made to 13 member countries by CCRIF SPC under tropical cyclone and excess rainfall insurance products
- +2 more outcomes
Companies that use RED Risk Engineering + Development
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
RED Risk Engineering + Development technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature6 records
RED Risk Engineering + Development partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered flagship, core, major and notable.
- ERN - Evaluación de Riesgos NaturalesflagshipRED and ERN have a long-standing partnership for common risk analysis projects and development of the Pan European Seismic Risk Model. ERN, based in Mexico City, has developed loss-estimation models for earthquake and hydro-risks since 1996 for Mexico, Central and South America. The joint venture was appointed Risk Manager Specialist of CCRIF SPC in 2015. The partnership includes implementation of European Earthquake Risk Model on both R-PLUS and Oasis platforms.
- CCRIF SPC (Caribbean Catastrophe Risk Insurance Facility)coreStarting September 1st, 2015, the ERN/RED joint venture was appointed Risk Manager Specialist of CCRIF SPC. The consortium provides development of new natural catastrophe risk models, Country Risk Profiles, and design and management of parametric insurance products for national governments. CCRIF membership includes 17 Caribbean and Central American countries.
- Oasis LMFmajorRED and ERN worked on achieving compatibility between the European Earthquake Risk model and the Oasis platform. The European model is now fully compatible with the Oasis LMF platform, giving results equivalent to those of its native R-PLUS system.
- CRIFnotableRED and CRIF co-developed the Climate Risk Analytics Suite (CRAS) which won the G20 TechSprint 2021 Award in the category for analysis and assessment of climate-related risks.
- European Union (Horizon 2020)coreRED participates in the HYPERION project funded by Horizon 2020 (grant agreement no 821054), a 4-year project worth 5,997,728.75 Euros starting June 1, 2019. The project aims to produce a comprehensive tool for cultural heritage sites to assess threats of climate change and natural hazards.
- University of PaviacoreAcademic collaboration for scientific research and teaching activities. RED staff involved in postgraduate programmes in Earthquake Engineering, Flood Risk, and Risk & Emergency Management.
- University of BolognacoreAcademic collaboration for scientific research and teaching activities in hydrology and flood risk.
- School of Advanced Studies of Pavia (IUSS)coreAcademic collaboration for scientific research and postgraduate programmes in Understanding and Managing Extremes (UME).
- Eucentre (European Centre Training and Research Earthquake Engineering)coreAcademic and research collaboration in earthquake engineering and risk assessment.
- Global Earthquake Model (GEM)majorRED's hazard model is fully consistent with SHARE project results, a regional program of the Global Earthquake Model initiative. Paolo Bazzurro is a member of GEM's Scientific Board.
- World Bank's GFDRRcoreRED and ERN consortium was awarded the project for development of national-level earthquake risk profiles for Sub-Saharan African countries as part of the Africa Disaster Risk Assessment and Financing Program supported by EU.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
RED Risk Engineering + Development competitors and assessment
Company assessmentEmerging players
- KatRisk: Catastrophe risk modelling software provider for flood, hurricane, and wildfire perils, serving insurance and reinsurance clients; comparable as a niche specialist competing against larger incumbents in select peril lines.
Broad incumbents
- RMS (Moody's): Global leader in catastrophe risk modelling, now part of Moody's, providing multi-peril models, exposure management, and risk analytics to insurance, reinsurance, and capital markets clients across all major perils RED also covers.
- Munich Re: Global reinsurer with extensive in-house NatCatSERVICE and risk modelling capabilities; comparable buyer/peer because it both consumes external cat models for portfolio management and develops proprietary tools competing with RED's offerings.
- CoreLogic (Cotality): Property data and analytics firm (now Cotality) offering natural hazard risk models and exposure data to insurance and financial services clients; comparable through overlapping peril coverage and exposure dataset products.
- AIR Worldwide (Verisk): Established catastrophe risk modelling firm acquired by Verisk, serving global insurers and reinsurers with multi-peril models for earthquake, hurricane, flood, and terrorism. Directly comparable as Paolo Bazzurro (RED's Director) previously led AIR's San Francisco office.
- Swiss Re Institute: Reinsurer with major catastrophe risk research and modelling functions producing proprietary peril analytics for the global insurance market; comparable buyer/peer with deep risk modelling expertise used both internally and externally.
Direct peers
- JBA Risk Management: Specialist flood and natural catastrophe risk modelling firm serving insurance, reinsurance, and government clients globally; comparable in size and specialisation, with overlapping flood and storm peril offerings used by the same buyer segments.
- Global Earthquake Model (GEM) Foundation: Public-private partnership developing open seismic hazard and risk models worldwide; RED's hazard model is consistent with the SHARE project (a regional GEM programme) and Paolo Bazzurro sits on GEM's Scientific Board.
- ERN (Evaluación de Riesgos Naturales): Mexico-based catastrophe risk modelling firm and RED's joint venture partner since 2014, co-developing the Pan European Seismic Risk Model and jointly serving as Risk Manager Specialist for CCRIF SPC. Operates in adjacent geographic regions (Latin America) with the same multi-peril risk modelling methodology.
Others
- Oasis LMF: Open-source catastrophe modelling platform on which RED's European Earthquake Risk Model is implemented; serves as both a distribution channel and an ecosystem peer with overlapping catastrophe risk modelling users in insurance.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
RED Risk Engineering + Development social profiles
Digital presenceRED Risk Engineering + Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
RED Risk Engineering + Development leadership team
Management profileNumber of profiles
Profiles20 records
RED Risk Engineering + Development funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
RED Risk Engineering + Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about RED Risk Engineering + Development
What does RED Risk Engineering + Development do?
RED Risk Engineering + Development provides specialised catastrophe risk assessment consulting services for natural and man-made hazards, including earthquakes, floods, droughts, tropical cyclones, excess rain, and tsunamis. The firm develops proprietary catastrophe risk models, parametric insurance structures, and harmonised exposure datasets that are delivered to insurance and reinsurance companies, governments, and international organisations. RED also provides vulnerability analysis, hazard modelling, and exposure data services alongside bespoke software platforms such as HYPERION and the Climate Risk Analytics Suite (CRAS).
Is RED Risk Engineering + Development a public or private company?
RED Risk Engineering + Development is a private company. It is classified as management employee owned and is currently operating.
When was RED Risk Engineering + Development founded?
RED Risk Engineering + Development was founded in 2008. It employs 11 to 50 people.
Where is RED Risk Engineering + Development based?
RED Risk Engineering + Development is headquartered in Pavia, Italy, in the Europe region.
How does RED Risk Engineering + Development make money?
Four revenue lines are on record. Risk Assessment Consulting Services are the primary driver. The others are services for Insurance Industry, software Platform Licensing and exposure Datasets.
Who are RED Risk Engineering + Development's main competitors?
KatRisk is listed as an emerging player. Broad incumbents are RMS (Moody's), Munich Re, CoreLogic (Cotality), AIR Worldwide (Verisk) and Swiss Re Institute. Direct peers are JBA Risk Management, Global Earthquake Model (GEM) Foundation and ERN (Evaluación de Riesgos Naturales). Oasis LMF is listed as an others.
Does RED Risk Engineering + Development have an API?
No public API is recorded for RED Risk Engineering + Development.
What industry is RED Risk Engineering + Development in?
RED Risk Engineering + Development's product category is Catastrophe Risk Assessment Services. Its primary akta.pro industry code is EUABALAA, Climate Hazard & Catastrophe Modeling (Flood, Wind, Wildfire, Heat, Sea-Level Rise), with a secondary code of EUABALAL, Climate Risk Data & Benchmarking Services (Hazard Layers, Loss Databases, Indices/Scorecards). Its NAICS code is 541330 and its SIC code is 8700.