ACQ2 by Acquired Reinsurance, Climate + Kindergarten Ventures (with Nat Manning)
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Sep 9, 2022 Nat Manning, co-founder of Kettle, discusses the innovative integration of AI in assessing climate-related risks within reinsurance. He highlights the industry's stagnation and the urgent need for modern risk assessment methods, particularly in light of California's wildfire risks. The conversation delves into parametric insurance products and the entrepreneurial journeys of Nat and his partner David Rosenthal. They reflect on their successful fundraising efforts and the power of collaboration, emphasizing the importance of networks in the venture capital landscape.
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Reconnecting After 25 Years
- Nat Manning and David Rosenthal reconnected after 25 years.
- They had gone to kindergarten together but lost touch until Manning messaged Rosenthal after hearing him on Acquired.
Kettle's Approach to Reinsurance
- Kettle, a reinsurance company, leverages advanced technology like machine learning and AI.
- They aim to better understand and underwrite risks exacerbated by climate change, acting as a safety net for insurance companies.
Why Reinsurance?
- Nat Manning chose reinsurance because it was ripe for disruption and hadn't been updated in 50 years.
- It presented a unique opportunity to understand catastrophic risks, especially those related to climate change.