Risk Frontiers’ climate risk analysis tools are designed to translate the latest climate data into relevant information to better understand climate impacts on business, community, and the natural environment.
Latest observation based gridded weather data from Australia’s leading research groups.
Historical and present-day climate.
Extreme events and long term trends.
CMIP6 global and regional climate model data.
Bias correction.
Future trends and hazard projections.
Historical and future projections for a wide range of weather hazards including:
Drought, heatwave, bushfire weather, wind and rainfall extremes, storms and more.
Our CAT loss models, trusted by leading insurers and financial institutions, provide cutting-edge probabilistic assessments of financial risks from extreme events. Integrating hazard, exposure, and vulnerability data, these models offer a robust foundation for informed decision-making.
Since 2019, Risk Frontiers has pioneered climate-enabled CAT models, allowing clients to project future risks under various emissions scenarios with scientifically validated methodologies. Backed by over 30 years of research and partnerships with regulatory bodies, our models are a key tool in climate risk resilience and financial planning.
Enhancing risk pricing and underwriting strategies.
Assessing exposure in lending and investment portfolios.
Informing policy and disaster resilience planning.
Evaluating asset vulnerabilities and future risk exposure.
Physical climate risks impact asset integrity and business operations, affecting asset values, insurance costs, and loan defaults. Risk Frontiers has over 30 years of experience in modelling these risks. Our tiered solutions include:
ClimateGLOBE is Risk Frontiers’ global climate data analytics framework, providing seamless downscaled and bias-corrected climate data from 1980 to 2100 anywhere on the globe. If you need quality climate data for your climate risk assessment, ClimateGLOBE is your climate data solution.
Using climate data is unfortunately not as easy as grabbing it direct from the models. We have developed a proprietary downscale and bias-correction technique that ensures climate model projections are aligned with historical observations at the location of your assets on the ground. We also do the climate model selection for you, based on the best available data in your area and your risk assessment requirements.
ClimateGLOBE can provide a large range of climate parameters either from the latest CMIP6 round of global climate model simulations, available for each of the new Shared Socioeconomic Pathways (SSP), or from the best-available regional climate model in your area available for select RCPs. The choice is yours, but we can guide you through this process.
Figure 1. Example of the ClimateGLOBE framework. Global or regional climate models of choice are selected, then data are downscaled and bias-corrected to historical observations at the asset locations, to provide a seamless timeseries of climate parameters at the sites of interest for multiple future climate scenarios.
Figure 1. Example of the ClimateGLOBE framework. Global or regional climate models of choice are selected, then data are downscaled and bias-corrected to historical observations at the asset locations, to provide a seamless timeseries of climate parameters at the sites of interest for multiple future climate scenarios.
Risk Frontiers’ Natural Hazards and Climate Risk Rating Database (RRD) leverages three decades of catastrophe loss model development, combined with the latest climate science, to take an informed view of natural hazard and climate risk in Australia.
The RRD provides a natural hazards risk rating for every address in Australia. This includes ratings for bushfire, flood, cyclone, storm surge, earthquake and convective storms (thunder, lightning and hail). If you own, operate, or have interests in residential, commercial or industrial property in Australia, the RRD is your solution to understanding natural hazard risk across your portfolio.
The RRD also contains information on how certain hazards are expected to change with climate change at the address level. Risk Frontiers’ physical climate risk scores measure the property risk of all the major acute and chronic physical climate risks for both present day and future climate conditions.
Figure 1. Projected changes in climate hazards that influence physical risks for Australian buildings and infrastructure. Confidence estimates are provided in parentheses. Source: modified from CMSI (2020).
Figure 1. Projected changes in climate hazards that influence physical risks for Australian buildings and infrastructure. Confidence estimates are provided in parentheses. Source: modified from CMSI (2020).
Natural catastrophe (CAT) loss models are decision support systems used extensively within (re)insurance to assist in pricing natural hazard risk and aggregate exposure management. These are complex, probabilistic models that comprise a hazard, vulnerability and financial module to calculate $ losses on a portfolio of physical assets.
Since 1994, Risk Frontiers has been developing best-in-class CAT models for the global (re)insurance industry, for all the major loss-producing perils in Australia – Flood, Fire, Cyclone, Hail and Earthquake.
The Geneva Association, and the UK, French and Australian Prudential Regulation Authorities have all identified CAT models as a critical tool to help improve the understanding of financial impacts of physical climate risk. CAT models have two major advantages over the metric-based climate risk approach – they have been dealing with the ‘problem’ of measuring the financial impacts of extreme weather (tail risk) for several decades, and they include asset vulnerability and exposure aspects into estimates of financial loss.
Figure 1. CAT models comprise a hazard, exposure and vulnerability module to model the financial risk of extreme climate (or seismic) hazards. The output is a set of exceedance probability (EP) curves. EP curves describe the expected losses on a portfolio of physical assets at a range of probability intervals for different climate hazards. ARI = Average Recurrence Interval. Y-axis is estimated losses in AUD. The integral of the curve is the Average Annual Loss (AAL). Shaded areas represent uncertainty related to natural climate variability and model error.
Figure 1. CAT models comprise a hazard, exposure and vulnerability module to model the financial risk of extreme climate (or seismic) hazards. The output is a set of exceedance probability (EP) curves. EP curves describe the expected losses on a portfolio of physical assets at a range of probability intervals for different climate hazards. ARI = Average Recurrence Interval. Y-axis is estimated losses in AUD. The integral of the curve is the Average Annual Loss (AAL). Shaded areas represent uncertainty related to natural climate variability and model error.
Whether you have questions, need support, we’d love to hear from you. Fill out the form below, and our team will get back to you soon!
In the spirit of reconciliation, Risk Frontiers acknowledges the Traditional Custodians of the land throughout Australia and their deep connections to land, sea, and community. We pay our respects to their Elders, past and present, and extend that respect to all Aboriginal and Torres Strait Islander peoples today.
