Zurich-based ScyAI secures €2M to help manufacturers and energy firms quantify climate risk and negotiate fairer insurance coverage.
A Zurich-based startup aiming to narrow the climate insurance protection gap has raised €2 million in pre-seed funding to expand its risk analytics platform for companies with large physical asset portfolios.
ScyAI said the round was led by AENU and co-led by PT1. Additional investors include David Helgason of Unity and Maex Ament and Philip Stehlik, founders of Taulia and Centrifuge, through Anti Ordinary Ventures, as well as several members of the angel alliance better ventures.
The funding comes as manufacturers, energy producers and infrastructure-heavy businesses face mounting operational exposure to climate-related risks. Natural catastrophes continue to generate significant economic losses globally, with a sizable portion remaining uninsured — a gap that has drawn increasing scrutiny from insurers, regulators and corporate boards alike.
A central issue, industry observers note, is how risk is priced.
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Insurance underwriting often relies on broad sector classifications and regional averages rather than granular, company-specific data. Without detailed insight into facility construction, mitigation measures or asset separation, insurers may default to conservative assumptions. Companies with robust risk management practices can therefore find themselves paying higher premiums or retaining more risk than intended, simply because their individual profiles are not fully visible.
ScyAI is betting that better data can close that gap.
The company has developed a platform that combines internal operational data with external hazard models to generate quantified, auditable risk profiles. The goal is to give organizations metrics aligned with those used by underwriters, enabling more transparent negotiations over pricing and coverage.
According to ScyAI, early users have reported lower insurance premiums and improved coverage terms after adopting the platform. The company is targeting enterprises with significant physical infrastructure, where even marginal improvements in pricing or coverage can translate into substantial financial impact.
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“Physical risks are becoming a central operational and financial issue for companies,” said Bernhard Rannegger, ScyAI’s founder and chief executive. The company’s objective, he said, is to make those risks measurable and intelligible, so risk and insurance teams can make more informed decisions.
As climate volatility intensifies and insurers reassess exposure, startups like ScyAI are positioning themselves at the intersection of data science and risk finance — a space where better measurement may prove as valuable as capital itself.
