Commercial property insurer FM has acquired FortressFire, a provider of wildfire intelligence that combines machine learning and physics-based modeling; financial details of the transaction were not disclosed.
FortressFire specialised in protecting homes, businesses and communities from wildfire loss through data-driven, science-backed approach risk modeling.
Operating as an independent, wholly owned division of FM, the company’s platform allows insurers and property owners to better understand and manage wildfire risk down to an individual property level.
Its wildfire intelligence solutions include aerial wildfire reports, monitoring, analytics, ground inspections and mitigation assessments to provide actionable, structure-specific insights and mitigation recommendations.
“FortressFire shares FM’s core belief in the power of data-driven, location-based risk mitigation and protection measures to help clients better understand and manage wildfire exposure,” said Malcolm Roberts, chairman and chief executive officer of FM. “The FortressFire team brings powerful tools to assess and mitigate wildfire risk, and we are excited to welcome them to the FM family.”
“For years we’ve argued that the best risk management is ignition prevention—and that the path to insurability runs through science,” said Michael Ashker, founder, chairman and chief executive officer of FortressFire. “To have an engineering-focused insurer of FM’s caliber put its capital and conviction behind that thesis is the strongest possible validation of what our team has built.”
A peril that has long threatened property, wildfire risk has intensified in many parts of the world in recent years.
FortressFire aims to reverse that cycle by quantifying ignition risk through fire physics, prescribing verifiable mitigation recommendations and monitoring properties to keep them protected over time.
By combining FortressFire’s structure-specific wildfire intelligence with FM’s extensive engineering heritage, scientific research capabilities and financial strength, the acquisition creates a powerful partnership.
Operating under its own brand and leadership, FortressFire is to continue to serve insurers, reinsurers, brokers, real estate professionals, lenders and property owners across the market.
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