World’s $2 trillion dollar extreme weather costs in past 10 years hit US the hardest. Axios recently published extreme weather damage estimates from the Oxera report for the International Chamber of Commerce for 2014-2023. Costs roughly equate to those of the 2008 global financial crisis and ICC secretary-general John W.H. Denton AO said "the economic impact of climate change" needs a "response of similar speed and decisiveness," per CNN. Researchers found in the last two full years of the report alone, global economic damages reached $451 billion - a 19% rise compared to the previous eight years of the decade. The world needs more solutions that help minimize the economic and community impact caused by these extreme weather events – we are glad Demex’s reinsurance product for severe convective storm losses is able to provide some assistance. https://lnkd.in/ebtF7RAD #parametric #reinsurance
The Demex Group
Insurance
New York City, New York 1,228 followers
Covering financial risks caused by extreme weather volatility.
About us
Severe thunderstorms are causing the biggest losses for insurers today and, historically, when a standout threat emerges the insurance industry responds by carving that peril out of standard policies so that it can be modeled, priced, reinsured, marketed, and addressed separately (like cat bonds). Demex is under the radar working on this precise product for thunderstorms. For the first time this year, during reinsurance renewal season, Demex will be selling a fix into the US market: Two of the top three global reinsurance brokers are selling Demex’s storm product to their insurer customers this year – it’s like a security patch for insurers overwhelmed by these losses. Major investors with weather desks are backing (providing capacity for) the product.
- Website
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http://thedemexgroup.com
External link for The Demex Group
- Industry
- Insurance
- Company size
- 11-50 employees
- Headquarters
- New York City, New York
- Type
- Privately Held
- Founded
- 2020
- Specialties
- Risk Management, Weather Derivatives, Commodities, Finance, Climate Resilience, Parametric Insurance, and Climate-Linked Insurance
Locations
Employees at The Demex Group
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Hank Hattemer
COO & General Counsel at Blue Bear Capital
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Andrew Janke
Director of Quantitative Systems at Demex Technologies
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Matt Coleman
Chief Risk Officer at The Demex Group
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Carlos A Oliveras
Global President | CEO | Managing Director Specializing In ► Strategic Executive Leadership | Operations Management | Product Development &…
Updates
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The Insurer’s video crew caught up with us after our Parametric Awards win in London! #ParametricInsurerEvent https://lnkd.in/eGNMxBq8 #parametric
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The Demex Group reposted this
🏆 It's been one week since we held our first-ever 2024 Parametric Insurer Awards, where we welcomed over 170 attendees at Landing Forty Two in London to celebrate innovation and excellence in the fast-growing global parametric and alternative risk transfer market. Once again, congratulations to all of our winners: PARAMETRIC BROKING COMPANY OF THE YEAR | Aon PARAMETRIC (RE)INSURER OF THE YEAR | Liberty Mutual Reinsurance PARAMETRIC MGA OF THE YEAR | Descartes Underwriting SOLUTIONS PROVIDER OF THE YEAR | Skyline Partners INNOVATION IN PARAMETRICS (WEATHER AND NAT CAT – PUBLIC SECTOR) | Aon – Parametric Solution for the Government of Puerto Rico and FEMA INNOVATION IN PARAMETRICS (WEATHER AND NAT CAT – PRIVATE SECTOR) | The Demex Group – Parametric Reinsurance Solution for Secondary Perils INNOVATION IN PARAMETRICS (OTHER) | Munich Re, African Risk Capacity, Frankfurt School of Finance, West African Development Bank (BOAD) PARAMETRIC BROKER OF THE YEAR | Alice Glenister MSc ACII, Miller Insurance Services LLP PARAMETRIC UNDERWRITER OF THE YEAR | Jason Hartell, Global Parametrics (a CelsiusPro company) PARAMETRIC RISING STAR OF THE YEAR | Francesca Finucane, NormanMax Insurance Solutions OUTSTANDING CONTRIBUTOR OF THE YEAR | Martin Hotz, Swiss Re Corporate Solutions 📩 To read our coverage of the Parametric Insurer Conference held on the morning of the same day, download our highlights PDF here for FREE: https://lnkd.in/e-VAmybi Augment Risk | CelsiusPro | Descartes Underwriting | Howden | NormanMax Insurance Holdings, Inc | Parametrix | Skyline Partners | Weather Risk Management Association (WRMA) Henry Gale Spencer Halladey Beatrice Boico Isabelle Brooker The Insurer TV #ParametricInsurerEvent #ParametricInsurer #Parametric #AlternativeRiskTransfer #IndexBasedSolutions
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And the winner is Demex! We are proud to have been named the winner of Innovation in Parametrics (Weather and NatCat - Private Sector) at the global Parametric Insurer Awards 2024 in London. The feedback we have received regarding our breakthrough parametric reinsurance solution for secondary perils this week has been amazing, and we were gratified to have been recognized with this honor. Congratulations to Henry Gale and The Insurer for hosting such a successful event.
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We are looking forward to attending tomorrow's Parametric Insurance conference and proud to be shortlisted in the global Parametric Insurance Awards for 'Innovation in Parametrics (Weather and NatCat - Private Sector)' for our reinsurance solution for secondary perils. Fingers crossed! The Insurer
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Good to see two The Demex Group investors, Andrew Lerner, IA Capital Group, and Ruth Foxe Blader, Foxe Capital, providing their valuable insights at this session on 'The Insurtech Investment Ecosystem - Building Bridges to Future Innovation' #ITC2024
Great panel moderated by the gracious Andrew Lerner with Amir Kabir 🤓 David Katz and Lluís Viñas Fernandez at #ITC2024. Debates about: 💸Market correction 📈GenAI adoption curve 🔨Buy vs. build 👯When to believe the hype Rarely is a conversation so well-matched and well-moderated 🙏🙏 Wonderful to spend time with Kate Sampson Hanna Wu Joshua Wyss Chi Lee Jonathan Gonzalez Rich Counsell Keith Soranno Ben Bergsma Ned Daoro Brian O'Reilly + more!
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Welcome to the team 🌎John Qiang Su🌏
Delighted to welcome Dr.🌎John Qiang Su🌏 to The Demex Group. His extensive experience and risk management expertise make him an outstanding addition to our team. https://lnkd.in/eJEg2fDr (paywall) #reinsurance #parametric
SCS specialist Demex hires Arbol’s Su as managing director of structured risk solutions
https://www.parametric-insurer.com
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We are proud to be shortlisted in the global The Insurer Parametric Insurance Awards for 'Innovation in Parametrics (Weather and NatCat - Private Sector)' for our reinsurance solution for secondary perils. #parametricinsurerevent
🏆 We are thrilled to reveal the shortlist for the inaugural Parametric Insurer Awards 2024. View below or here: https://lnkd.in/eKX399EC We received an impressive volume of entries, showcasing exceptional submissions across all categories. The judging panel was chaired by Parametric Insurer's editor Henry Gale and included Chris Lee of Exante, Alan Punter of Livery Committee, louisa renoux of PwC France, David Whitehead of Speedwell Climate, and Paul Wilson of Securis Investment Partners LLP. Congratulations to all of our shortlisted nominees and a huge thank you to everyone that took the time and effort to enter. ❗The winners will be announced on 30 October during our gala dinner and ceremony at Landing Forty Two in London. With tables nearly sold out, be sure to secure your attendance by contacting Andy Stone at andy.stone@thomsonreuters.com. 2024 Partners Augment Risk | CelsiusPro | Descartes Underwriting | Howden | NormanMax Insurance Solutions | Parametrix | Skyline Partners | Weather Risk Management Association (WRMA) #ParametricInsurerEvent #ParametricInsurer #insurance #reinsurance #parametric
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We are proud to be shortlisted in the global The Insurer Parametric Insurance Awards for 'Innovation in Parametrics (Weather and NatCat - Private Sector)' for our reinsurance solution for secondary perils. https://lnkd.in/gTFy8AeT #parametricinsurerevent
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The Demex Group reposted this
Anthony R. O'Donnell at Insurance Innovation Reporter recently published the news of Stephen Bennett, The Demex Group's chief scientist being asked to lead the industry advisory board for a new cooperative research center into severe convective storms. https://lnkd.in/eD4Y6Q4A #parametric #reinsurance
Demex Group Chief Scientist to Lead Center for Research on Convective Storms
https://iireporter.com