Liberty Mutual Re has partnered with seismic sensor and risk management technology provider, Safehub, to launch Shakenet Parametric, an earthquake insurance solution that uses high-resolution regional shaking data to trigger payouts.

Safehub’s Shakenet system merges data from its network of proprietary sensors with government monitoring to generate detailed regional shaking maps. These maps are powered by the Global Earthquake Model Foundation’s OpenQuake engine, a widely used open-source hazard modelling framework.

The product aims to reduce basis risk in parametric reinsurance contracts by aligning payouts more closely with real losses. Users can add sensors at specific locations to increase accuracy.

Jean-Christophe Garaix, head of agriculture and parametrics at LM Re, said: “By combining LM Re’s reinsurance expertise with Safehub’s advanced seismic monitoring and mapping technology, ShakeNet Parametric delivers resilient, science-backed insights that enable faster, smarter earthquake response. Our partnership with Safehub underscores LM Re’s commitment to bringing innovative, data-driven solutions to the evolving needs of our clients.”

Andy Thompson, CEO of Safehub, added: “Through our existing sensor networks, and our ability to quickly deploy into developing markets, we are able to provide the highest-resolution regional shaking maps anywhere in the world. In combination with LM Re’s reinsurance expertise, this technology delivers a new frontier in earthquake risk management.”

Shakenet Parametric is aimed at large portfolios and can be adapted for public private partnerships or sub-layer reinsurance.

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