Riskwolf: The Venture Leader Fintech scaling parametric insurance with real-time data and risk modeling

14.11.2024 16:43, Rita Longobardi

Meet Thomas Krapf, CEO of Riskwolf. The Fintech startup's platform supports both climate and technology risks, providing pre-built parametric templates. In December, Thomas and the other nine Swiss National Fintech Team members will fly to London on a business development and investor roadshow.

Name: Thomas Krapf 
Location: Zurich
Nationality: Swiss
Graduated from: University of Zurich
Job title: Co-Founder and CEO
Number of employees: 8
Money raised: CHF 1.4M Equity plus 1M+ Grant
First touchpoint with Venturelab: Venture Leaders Mobile 2021


Thomas Krapf got his Masters degree in business administration and economics in the 90s at the University of Zurich. After a stint as a consultant in the stock exchange area, he entered the insurance industry - supporting the first global re-insurance business venture. He moved on with a short corporate career, another carbon insurance venture, as well as consulting engagements throughout the whole re/insurance value chain and eventually founded Riskwolf. He is a father to two teenage daughters and enjoys his sparse free time with the family, reading, nature, and cooking activities. 

Can you tell us who your product or solution helps, and how?
Riskwolf is a full-stack platform that offers unique real-time data and dynamic risk modelling to predict, prevent and protect against adverse weather events and technology downtimes. Insurers use our parametric platform to build and operate protection products for these scenarios. With this approach, we can provide much faster payouts for those who need it most, such as farmers, gig workers, and SMEs. Remote and satellite data are key enablers, helping our insurance partners to offer protection in regions where traditional insurance is insufficient or unavailable.

What market are you addressing and what is the potential of your startup in that market? 
Extreme Weather is the number one risk globally, with an unmet protection gap of USD 180 billion. Parametric insurance can tap into 20% of this market. We provide our services to any insurance entity that uses parametric insurance products with their clients. Can be a specialist (MGA or a Captive), can be an industry leader (local insurer), and can be an embedded player (embedded insurers, assurance, banks). 
How and where did you come up with the idea for your startup?
René, my Co-Founder and CTO, and I developed the idea for Riskwolf back in 2018 when we saw the opportunities of cloud computing and how more data-driven approaches could innovate the insurance industry. In a nutshell: Make it simple, reliable and fast.

What do you expect from the Venture Leaders Fintech roadshow, and how will it help you achieve your vision?
I hope to go to London with like-minded entrepreneurs who want to change and move forward with better technology and innovative ventures. I hope to get some visibility in one of the largest financial centres of the world and to meet some interesting people, potential clients or investors as well. As an Insurtech the London market is a key pillar to position our brand with a global mission.

What are your team’s key achievements to date?
We have launched in Asia, the US and the EU. We offer a B2B service for local insurers in India, the Philippines, New Zealand / Australia, the EU and the US. Seven parametric programs signed with the first ARR are currently in progress. In 2024 we set up Riskwolf India Ltd, our legal subsidiary in India – the fastest-growing insurance market. Also in 2024, we signed our first contract in the US captive industry, tapping into the deepest insurance market globally.

What is the most challenging and rewarding aspect of being a founder?
The founder's journey to establish, shape and grow Riskwolf is both extremely challenging and at the same time extremely rewarding. I cannot differentiate between the two.

What is the most important lesson you have learned as a founder?
Sometimes an (unexpected) step back allows you to make two or three steps forward in the mid-term.

What is your favourite productivity hack/tool and why?
Get enough sleep. Make trips into nature. Eat and cook your food (if possible). Build Trust with your team, your shareholders, and your clients but also with yourself. Only with peace of mind, productivity can flourish.

What was your dream job when you were a child?
Being independent. Do my own thing. I never had a dream job.