Allianz-GEM partnership focuses on global earthquake risk resilience

Allianz-GEM partnership focuses on global earthquake risk resilience

The Allianz Group, one of the world's leading insurers and asset managers, has joined the Global Earthquake Model (GEM) Foundation, an international public-private partnership recognized as a premiere source of open-source hazard and risk assessment software, tools and data for the application of science to understanding and managing earthquake risk on a global scale.

The partnership aims to enhance the understanding of earthquake risk by leveraging Allianz’ experience in multi-peril modelling and the use of data in an insurance context; and GEM’s open, transparent and collaborative approach to earthquake risk analysis at the global, regional, and local levels. Matthias Hackl, Head of Cat Research & Development, Allianz Re, has joined the GEM board as part of the cooperation.

“We are happy to welcome Allianz to the GEM family. Allianz’ experience in natural catastrophe risk management combined with GEM’s long-term strategy toward multi-hazard risk modelling, can improve both organizations’ understanding of earthquake risks, and contribute to natural hazard risk resilience globally.” - John Schneider, GEM Secretary General.

Allianz Re natural peril experts currently model around 90 natural catastrophe scenarios worldwide using data collected from scientifically robust sources and Allianz exposure data to allow in-house and vendor applications to build a quick picture of risk accumulation in any defined location and form the basis for effective risk management measures.

“Partnering with GEM provides an opportunity for us to enhance the way we look at earthquake risk worldwide. GEM’s scientific experience and knowledge will improve our own earthquake models  with their high-quality open data and models, proven methods and processes,” says Matthias Hackl.

“Allianz is committed to apply science to understand, manage and estimate the costs of natural hazards. We see the engagement with GEM as a great opportunity to expand our network of partners with whom we want to push the boundaries of understanding natural perils worldwide,” says Sibylle Steimen, Managing Director of Advisory & Services, Allianz Re.   

^{About Allianz Group}

_{The Allianz Group is one of the world's leading insurers and asset managers with 126 million private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 809 billion euros on behalf of its insurance customers.}

_{About GEM Foundation}

^{GEM was formed in 2009 as a non-profit foundation in Pavia, Italy. GEM’s vision is to create a world that is resilient to earthquakes and other natural hazards, including the effects of climate change. GEM is funded by public and private institutions globally, and is advised by many international organizations.}  

^{GEM is also recognized by the UN as an NGO, operating under UN guidelines for a humanitarian organization. GEM’s mission is to be a complete source of risk resources and, together with its partners, a global leader in integrated, multi-hazard risk assessment and resilience planning. Further, GEM aims to ensure that its products are applied broadly in disaster risk management/reduction and its services are available and accessible to public, private and academic institutions worldwide.}

Forward Looking Statement Disclaimer

As with all content published on this site, these statements are subject to our Forward Looking Statement disclaimer.

Elizabeth Goetze

Allianz Re, Communications