TYSONS, Va., June 16, 2021 (GLOBE NEWSWIRE) -- QOMPLX™ is proud to announce a partnership with Fathom to add their bespoke catastrophe models on QOMPLX’s cloud-enabled platform, offering various insurance data, services, and models to the insurance and reinsurance industry.
The QOMPLX:OS marketplace provides customers access to data, models and services that can be purchased on-demand. Users can mix and match their access to suit their book of business. The underlying capabilities of the QOMPLX core data factory fuel our cloud insurance risk analytics offering with the ability to rapidly ingest, transform and contextualize data at scale, much faster than traditionally seen across the industry.
“At Fathom we are keen to collaborate with service providers like QOMPLX who are working hard to create detailed ecosystems for climate risk. By using Q:HELM, users can access our complex and large datasets, alongside other climate events, in a way that is joined-up and easy to consume,” said Stuart Whitfield, CEO at Fathom.
Fathom’s choice to partner with QOMPLX is further evidence of the pioneering work QOMPLX is pursuing to knit together disparate pieces of the insurance market. QOMPLX is building a user-friendly 1-stop shop for insurers and reinsurers to access cutting-edge models and robust data.
“We provide a high-performing ecosystem of diverse offerings inside Q:HELM. The Fathom models are a fundamental part of that, allowing insurers to easily transition catastrophe modeling into everyday workflows instead of separating it out as an occasional activity,” said Steve Smith, Director of Product and Modeling at QOMPLX.
Fathom’s models specifically provide users with a more comprehensive view of flood risk, explicitly accounting for flood defenses and employing bespoke vulnerability functions. They cover both riverine and flash-flood perils, using the latest data and methods from the scientific research community. This approach allows insurers and reinsurers to simulate flooding and understand flood risk exposure more effectively, providing a unique view of flood risk within their models.
This robust offering for insurers and reinsurers is emblematic of QOMPLX’s unique role in risk analytics, as entities like The Bank of England and The Federal Reserve further evaluate mortgage risk due to follow-on events from flooding. And last week, the G7 Finance Ministers Meeting in London renewed their efforts to safeguard the financial system from climate change shocks. Solutions to mitigate these types of long-term risk to capital and climate are foundational to our modern global economy, and QOMPLX has a role to play bringing together the information and insights needed for industry to address broader climate risk challenges.
Founded in 2012, Fathom is the only research-led global flood modelling business and applies the latest award-winning science to set a new benchmark in flood risk management and mitigation. Fathom uses cutting-edge technology and the most up-to-date data to deliver detailed flood prediction models for risk assessment, climate change analysis and resilience management to global partners. The company delivers flood risk intelligence across multiple sectors including (re)insurance, engineering & construction, corporate risk management, conservation and disaster response. To learn more, please visit http://www.fathom.global
QOMPLX helps organizations make intelligent business decisions and better manage risk through our advanced, proprietary risk cloud. We are the leaders at rapidly ingesting, transforming, and contextualizing large, complex, and disparate data sources through our cloud-native data factory in order to help organizations better quantify, model, and predict risk. Our specialized experts and technology solutions in cybersecurity, insurance, and finance power leading global corporations and mission critical public sector agencies.
For more information, visit qomplx.com and follow us @QOMPLX on Twitter.
James Faeh, Director of Corporate Communications
In connection with the transactions contemplated by the Business Combination Agreement, dated March 1, 2021, by and among Tailwind Acquisition Corp. (“Tailwind”), Compass Merger Sub, Inc., QOMPLX, Inc. (“QOMPLX”), and Rationem, LLC, in its capacity as the representative of the stockholders of QOMPLX (such transactions, the “Business Combination”), Tailwind has filed with the U.S. Securities and Exchange Commission (“SEC”) a Registration Statement including a preliminary prospectus and preliminary proxy statement. Tailwind will mail a definitive proxy statement/final prospectus and other relevant documents to its stockholders. This communication is not a substitute for the Registration Statement, the definitive proxy statement/final prospectus or any other document that Tailwind will send to its stockholders in connection with the Business Combination. Investors and security holders of Tailwind are advised to read, when available, the proxy statement/prospectus in connection with Tailwind’s solicitation of proxies for its extraordinary general meeting of stockholders to be held to approve the Business Combination (and related matters) because the proxy statement/prospectus will contain important information about the Business Combination and the parties to the Business Combination. The definitive proxy statement/final prospectus will be mailed to stockholders of Tailwind as of a record date to be established for voting on the Business Combination. Stockholders will also be able to obtain copies of the proxy statement/prospectus, without charge, once available, at the SEC’s website at www.sec.gov or by directing a request to: 1545 Courtney Avenue, Los Angeles, CA 90046.
Participants in the Solicitation
Tailwind, QOMPLX and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Tailwind’s stockholders in connection with the Business Combination. Investors and security holders may obtain more detailed information regarding the names and interests in the Business Combination of Tailwind’s directors and officers in Tailwind’s filings with the SEC, including the Registration Statement filed with the SEC by Tailwind, which will include the proxy statement of Tailwind for the Business Combination. The names and interests of QOMPLX’s directors and executive officers are also in the Registration Statement filed with the SEC by Tailwind, which includes the proxy statement of Tailwind for the Business Combination.