Open-source Tools for Physical Risk Analysis
The European Insurance and Occupational Pensions Authority (EIOPA) has developed open-source tools for modeling and managing climate change risks. These tools aim to enhance the accuracy of climate risk assessment by providing cost-effective and user-friendly models for analysis. A key component is the CLIMADA-app, an open-source tool with an interface built by EIOPA, designed to facilitate catastrophe modeling. This initiative aligns with EIOPA's goal of bridging the gap between climate science and the insurance industry. Additionally, the webpage outlines various initiatives promoting open-source approaches in catastrophe modeling, underscoring the industry's move towards collaborative, data-driven solutions.[1]
For more detailed information, you can read the full content on their website: [EIOPA - Open-source tools for the modeling and management of climate change risks](https://www.eiopa.europa.eu/tools-and-data/open-source-tools-modelling-and-management-climate-change-risks_en).