Funding News: The Demex Group raised $10.25 million in a Series A round, led by Congruent Ventures, with participation from Moxxie Ventures, MetaProp, and Blue Bear Capital, supporting its risk analytics and parametric reinsurance solutions.
Demex provides a parametric stop-loss reinsurance solution for secondary perils like severe convective storms (e.g., tornadoes, hail), which are increasing due to climate change, offering tailored protection for insurers to manage financial risks.
🗣 “Growing losses from these storms are a critical problem for the insurance industry – challenging insurance companies’ annual earnings and balance sheet surpluses. We’re grateful to have investors who bring climate perspective, technology capabilities, a property mindset, and insurance experience to Demex,” said William Clark, President and CEO of Demex.
🗣 “Insurance carriers are taking significant losses from high frequency events such as thunderstorms and have been digging into their surpluses for years,” said Abe Yokell, Co-Founder and Managing Partner of Congruent Ventures who led the round. “Reinsurers, too, have experienced higher than expected losses due to secondary perils. The Demex model – developed by a blue-chip team from industry heavyweights – quantifies risk and reduces deviation, which broadens reinsurance offerings and ultimately provides a stronger insurance industry for property owners.”
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