FM acquires FortressFire to add property-level wildfire modeling to insurance
Michael Ashker's platform will remain an independent FM division, pairing ignition modeling and mitigation workflows with the insurer's engineering operation.
By Ryan Merket · Published
Primary source: PR Newswire
Why it matters
FM is bringing structure-level wildfire modeling and mitigation workflows inside an insurer with a $31 billion surplus. The deal offers a strategic-exit path for insurtechs that can connect risk data to underwriting and loss prevention.
FM acquired FortressFire on August 10th, bringing a machine-learning and physics-based wildfire platform inside one of the largest commercial property insurers. Financial terms were not disclosed. FortressFire will operate under its existing brand and leadership as an independent, wholly owned FM division, according to the acquisition announcement.…
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