Dr. Robert T. Reville Speaks about Praedicat on KCRW

Transcript:

RAND Corporation, the Santa Monica-based nonprofit think tank, has never had a commercial venture. Until now. KCRW’s Avishay Artsy reports.

In 64 years, RAND has always focused on technology research. But together with Risk Management Solutions and private investors, RAND is launching Praedicat, Inc. The company will offer consulting in a field of analytics called “catastrophe risk modeling.” That helps property and casualty insurance companies gauge the risk of natural disasters. RAND officials say the new venture will help expand the company’s positive impact on society. But it’ll also help make some money. RAND senior economist Robert Reville will be the CEO of Praedicat.

“RAND is of course also a business, and it also serves to diversify its funding sources, and so I think it makes good business sense, but I don't think it's the primary motivation.”

RAND officials expect to start with about a dozen employees headquartered in Culver City. For KCRW, I’m Avishay Artsy.