RMS, world’s leading catastrophe risk management firm has acquired HWind Scientific LLC, a real-time hurricane-impact data service. The financial terms of the deal has not been disclosed.
Founded in 2014, HWind Scientific provides overall hurricane information to businesses and governments around the world, monitoring hurricanes in real-time, with the help of the HWind methodology that was invented by HWind Scientific founder, Dr.Mark Powell. The company’s hurricane impact mapping feature will be offered as enhancement among the tools and products provided to Risk Management Solutions clients.
HWind’s unique data tracking feature has been on RMS’radar since Powell was a scientist for the National Oceanic and Atmospheric Administration, a federal agency that monitors atmosphere and ocean conditions.”HWind Scientific’s real-time hurricane monitoring and the scientific rigor of HWind data is unmatched in the insurance industry,” said Mohsen Rahnama, head of model development at RMS at the press release. He also added, “Now our union with HWind Scientific opens up an incredible opportunity for RMS to further advance our clients’ hurricane risk management, as well as develop further models and data that continue to strengthen the insurance industry’s management of hurricane risk.”
Further to the acquisition, Dr.Powell would be joining RMS as vice president, model development. He will go on with supporting the HWind products and services and lead the combination of HWS products into the RMS modelling suite. He stated, “My team and I are excited to incorporate our real-time and retrospective observation-based hurricane analyses with the RMS product offerings. HWind Scientific has become an industry standard for validating hurricane risk models, developing satellite extreme-wind remote sensing functions, and providing the forcing for storm surge and wave model forecasts, making the company a natural fit with RMS. With our combined strengths we look forward to introducing new products that have been in development over that past 18 months, including a revised high-definition wind analysis and footprint archive.”