The Global Risks Alliance (GRA)
Technology relevant to insurance and catastrophe, climate and hazards and health and biosecurity: what it can do, the constraints it faces and its consequences for people and institutions.
GRA · Established · service level R0
Innovation at Insurance Nexus is the evaluation of technology relevant to insurance and catastrophe: the need it addresses, the evidence behind it, its constraints and its consequences for safety, rights and the environment. Promising work can be built in Nexus Foundry and tested in Nexus Universe; nothing is called proven before test and review, and no product is endorsed.
Fig.How a finding is reviewed before it is published. Design, not a record.
How satellite radar turns a flood into an exposure update. Synthetic scene; no real event or place.
Which problem does the technology address, and for whom?
What has been demonstrated, under what conditions, and what remains untested?
Cost, skills, infrastructure, data and governance requirements.
Effects on safety, rights, equity and the environment.
| Change | Risk question |
|---|---|
| Satellite and aerial imagery for underwriting and claims | Error rates of automated damage assessment |
| Parametric products with automated triggers | Basis risk and index integrity |
| AI in pricing for life and health cover | High-risk status under the EU AI Act from 2 December 2027; fairness |
| Telematics and sensors | Privacy and selection effects |
| Cyber insurance | Accumulation through shared technology providers |
Promising work can be built in Nexus Foundry and tested under controlled conditions through Nexus Universe. No technology is described as proven before it has been tested and reviewed.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| Technology readiness level | A scale from basic principles to proven operation that describes how mature a technology is. |
| Responsible innovation | Anticipating and governing the effects of new technology together with society. |
| Testbed | A controlled setting, from a lab rig to a field site or sandbox, for trying a technology before it meets real conditions of use. |
| Reinsurance | Insurance bought by insurers to transfer part of their risk to another carrier, limiting the effect of large or accumulated losses on their capital. |
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.