Renew Risk

Renew Risk is a London-based climate insurtech founded in 2021 by Ashima Gupta, Gaurav Chawla, Joshua Macabuag, and Professor Subhamoy Bhattacharya. The company was built on a clear insight: the global energy transition cannot accelerate without better risk models for the assets at its core. Traditional catastrophe models were designed for buildings and infrastructure on land — offshore wind farms, exposed to deep-water earthquakes, typhoons, and hurricanes in remote locations, had no equivalent. Renew Risk was created to fill that gap.

The company builds the world's only catastrophe risk models dedicated specifically to offshore wind farms and solar assets, covering perils including earthquakes, typhoons, hurricanes, and severe storms across major markets in Europe, the US, Japan, Taiwan, and beyond. Its models are used by (re)insurers, insurance brokers, offshore wind developers, banks, private equity firms, and asset managers to price premiums, set reserves, plan sites, and make financing decisions on billion-dollar renewable energy assets. Renew Risk's models are integrated into Nasdaq's Risk Modelling platform and are live with global (re)insurers including McGill & Partners and HCC Tokio Marine.

The company has raised over $8 million in total, including a £5 million Series A in early 2025 led by Molten Ventures with co-investment from Lloyd's and Insurtech Gateway. It has been selected for the Royal Academy of Engineering Shott Scale-Up Accelerator and Innovate UK's Clean Energy Global Business Innovation Programme, and has partnered with GCube Insurance and Nasdaq to expand its global reach as the offshore wind market heads toward a projected $1 trillion in value by 2040.