The world's insurance and (re)insurance industries require a wealth of accurate scientific information to make informed decisions about underwriting and investment activities. The Risk Prediction Initiative (RPI) showcases academic research relevant to these industries and assists in translating this research into usable and actionable results for its member companies. We help scientists understand which questions industry is asking and help them refocus their research on needs and time-scales relevant to the (re)insurance industry, in addition to stimulating and supporting high-level research on natural hazards such as hurricanes, typhoons, and tornados. The support of RPI for industry-defined research projects brings the scientific and business communities in closer alignment, helping science inform industry.
RPI has an established track record of success, including:
- Developing paleotempestology;
- Stimulating the development of seasonal forecasts for hurricane landfall;
- Initiating the creation of new databases used to refine hazard catalogs;
- Supporting research to quantify the clustering of European wind storms;
- Promoting interest in the importance of extra-tropical transitions for hurricanes.