Demex is a technology-enabled managing general agent (MGA) that utilizes customer data and proprietary modeling to quantify and transfer financial risks associated with non-catastrophic, high-frequency weather events. Their Retained Climate Risk Reinsurance (RCR) and Operational Climate Risk Coverage (OCR) products provide insurers and businesses with tailored solutions to mitigate underwriting losses and stabilize budgets amid increasing weather volatility.
Funding
$28.5M 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.
Founders
Product
Problem
Insurers and businesses face increasing financial risks from high-frequency, non-catastrophic weather events like heat waves, droughts, and storms. Traditional insurance focuses on catastrophic events, leaving a gap in coverage for these more frequent and less severe weather-related losses, leading to underwriting losses and budget instability.
Solution
Demex provides technology-driven risk management solutions that quantify and transfer financial risks associated with non-catastrophic, high-frequency weather events. As a managing general agent (MGA), Demex offers Retained Climate Risk Reinsurance (RCR) and Operational Climate Risk Coverage (OCR) products. RCR supplements traditional reinsurance programs to minimize underwriting losses for insurers by covering risks within the retention layer. OCR provides budget stability for businesses vulnerable to increasingly volatile weather by covering unexpected costs and lost revenue.
Target Audience
Demex serves insurance carriers seeking to minimize underwriting losses and businesses aiming to stabilize budgets amid increasing weather volatility.
Features
- Proprietary modeling quantifies financial risks from non-catastrophic weather events using customer data.
- Retained Climate Risk Reinsurance (RCR) minimizes underwriting losses for insurers due to high-frequency weather events.
- Operational Climate Risk Coverage (OCR) stabilizes budgets for businesses affected by weather-related disruptions.
- Parametric reinsurance design to proxy retained claims related to wind and hail.
- Risk transfer solutions reimburse customers for weather-driven construction delays.
- Technology computes 2,400 risk scenarios per second.
- Integrates 4.1 million global inputs for RCR and 22 million global inputs for OCR.