Catalytics was founded in Singapore in 2009 with the intention of becoming the first wholly Asian Cat Modeling company.
The company set out to produce the type of models that the market was demanding but not receiving being fully open platforms that provide default, state of the art quality actuarial and scientific data, affordability, usability, strong graphics and relevant catastrophe management applications for in-house use of informed and risk-minded executives of insurers and reinsurers.
Catalytics combined this with free training, providing aggregate assessments and catastrophe risk management over cresta zone or postal code or geocoded data to suit the company’s policy data levels. Catalytics delivers flexibility and self-determination for decision makers, underwriters, reinsurance buyers, CEO’s and CFO’s to consider all levels of retail and reinsurance pricing plus the software links to their reinsurance structures and DFA software for detailed financial assessment.
The company rapidly launched its first predictive catastrophe model, the Indonesian earthquake model, in collaboration with Maipark and the legendary Professor Zen. This is the first model of Indonesia made using local data and research as well as International data.
Within twelve months the company launched the Philippine earthquake model which is today used by most major local insurers as well as the ADB and PIRA for the new Philippines Earthquake Pool. The company has since expanded its ASEAN earthquake footprint to include Singapore, Malaysia, Thailand, and Vietnam, offering an ASEAN suite of earthquake models.
In November 2012 after two years of construction, Catalytics launched the new Flood Model that was immediately procured by Thai Re for all its lead cedants in Thailand in order to develop knowledge and mitigate flood risk in the Kingdom.
The Typhoon software is being built at the moment and is expected for release in the third quarter of 2013.