Lotic Labs provides a platform that utilizes AI-powered modeling and geospatial data integration to quantify and manage weather-related financial risks for industries such as agriculture, insurance, and water utilities. By enabling businesses to forecast and optimize their risk management strategies, the platform helps stabilize revenues and improve financial planning in the face of climate volatility.
Funding
$1.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ECNSFounders
Product
Problem
Many businesses, particularly those in agriculture, insurance, and water utilities, face significant financial risks due to unpredictable weather patterns and climate volatility. Quantifying and managing these weather-related risks is complex, often leading to inaccurate financial planning and unstable revenues. Traditional risk management strategies often lack the precision and real-time data needed to effectively mitigate these challenges.
Solution
Lotic Labs offers a platform, BottomLineWeather, that leverages AI-powered modeling and geospatial data integration to enable businesses to quantify, track, and manage weather-related financial risks. The platform integrates diverse environmental and economic data, including weather patterns, streamflow, land cover, commodity prices, and freight costs, to provide a comprehensive view of potential risks. By connecting this data to a company's specific assets, supply chains, and service areas, BottomLineWeather delivers insights at both the asset and portfolio levels. This allows risk managers, CFOs, and operations teams to make more informed decisions, optimize risk management strategies, and improve financial forecasting in the face of climate uncertainty.
Target Audience
The primary target audience includes risk managers, CFOs, and operations teams in industries such as water utilities, insurance and reinsurance, green infrastructure, agriculture, beverage and bottling, and data centers.
Features
- Integrates weather, environmental, remotely sensed, and economic data through a geospatial indexing system.
- Connects environmental and economic data to financial and operational realities using AI-powered modeling tools.
- Quantifies risk exposure at the asset and portfolio levels, considering interactions between risks across geography and time.
- riskExplore and riskConnect tools identify the precise drivers of risk at the asset or portfolio level.
- riskTrack and riskCast tools capture real-time weather exposure and provide financial forecasts based on weather and climate predictions.
- riskManage tool evaluates existing risk management strategies and supports the design of new strategies.
- riskPrice tool designs and tests parametric insurance products.