TERRA Modeling Services GmbH is now TERRA Modeling Services AG: A conversion from a Gesellschaft mit beschränkter Haftung (limited liability company) to an Aktiengesellschaft, the Swiss equivalent of a stock corporation.
The change of legal form reflects where the company has got to: a team of seven, serving agricultural insurers, international reinsurers and agri-food businesses across Europe, the Americas and Asia, with a growing suite of tools built on open climate, weather and satellite data.
With it comes an expanded leadership team. Beat Krauer joins as Managing Director and Partner, after three years helping shape the company from the outside.
Beat spent twenty years underwriting agricultural and natural catastrophe reinsurance — at PartnerRe, Allianz Re, and AXA XL, where he was Global Head of Agriculture Reinsurance — and most recently served as Chief Underwriting Officer at CarbonPool. He is, in other words, exactly the client we build for.
That matters, because it is how TERRA works. Most modelling companies start with the data they have and ask what they can build with it. We start from the problem: what does an underwriter or actuary actually need to decide, and what is the simplest thing that lets them decide it well? Our tools are free where they can be — ElNiñoCast, launched in July, needs no registration at all — and simple by design rather than by limitation.
“I’ve been handed a lot of impressive models over twenty years,” says Beat. “The ones I actually used were rarely the most sophisticated. They were the ones that answered the question I had, on the day I had to answer it.”
Next is our US MPCI reinsurance pricing model, which enters production this autumn, with further work for the North American market to follow.
