MAIF (Mutuelle assurance des Instituteurs de France), a mutual insurer supporting more than 4 million households, associations, businesses, and communities across France, is strengthening its climate risk modeling capabilities with access to a comprehensive suite of Moody’s high-definition risk models.
Moody’s will provide MAIF its high-definition Moody’s RMS™ risk models covering three main perils: windstorms, floods, and severe convective storms including hail.
Additionally, MAIF will benefit from additional Moody’s climate change layers for wind and flood perils. These layers will enable MAIF to anticipate various climate Representative Concentration Pathways (RCP) scenarios up to the year 2100 and quantify their impacts on MAIF’s activities and its members.
As climate change has influenced increases in the frequency and intensity of natural disasters for several years and a subsequent rise in losses, MAIF aims to find new solutions to continue protecting its members and centers its actions around three axes: prevention, repair, and regeneration.
After establishing a ‘Climate Cell’ as part of its strategic regeneration plan, leveraging Moody’s tools and models plays a major role in helping MAIF enhance its understanding of climate risks.
Hélène N’Diaye, Deputy CEO of the MAIF Group, commented: “In the face of increasingly intense and frequent climate events, we must take action. In addition to our ecological dividend for regeneration and our daily actions for repair, Moody’s models are essential to strengthening our prevention efforts. MAIF is now fully autonomous in its understanding of climate risks to anticipate their impact.”
Ursula Barnett, Director – Sales Management, Continental Europe, Moody’s, commented: “We are delighted to support MAIF in its mission to understand and manage climate risks. Our three high-definition Moody’s RMS™ models, combined with our platform solution, provide MAIF with the essential tools to establish a robust view of climate risk.”
“We see an increasing number of leading insurers in France adopting our Moody’s RMS™ models to better understand the rising severity and frequency of climate-related events, thereby optimizing their entire risk management process, from underwriting to capital management and reinsurance placement.”