Trending...
- Proto-Punk Legends The Dictators Release First New Studio Album In 23 Years
- Agenda Announced for Creative Tech New York 2024
- Lions Gate Entertainment Corporation (LGF.A; LGF.B) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings
WASHINGTON, Sept. 5, 2024 ~ The Demex Group, a risk analytics and intelligence company, has recently announced that it has raised $10.25 million through a Series A and previously closed SAFE funding round. The funding was led by Congruent Ventures and included investments from Moxxie Ventures, MetaProp, and existing investor Blue Bear Capital.
Demex specializes in providing innovative stop-loss reinsurance protection for severe convective storms such as tornadoes, thunderstorms, hail, and wind. These types of storms have become increasingly frequent due to climate change, posing a significant challenge for the insurance industry. With their parametric reinsurance solution, Demex aims to help insurers protect their financial security.
According to Bill Clark, President and CEO of Demex, the company's model has been well-received by both customers and investors. In fact, they have already bound $65 million in reinsurance during their first selling season.
Clark expressed his gratitude towards the investors who bring a diverse range of perspectives and expertise to Demex. He believes that their climate perspective, technology capabilities, property mindset, and insurance experience will be valuable assets for the company.
More on Nyenta.com
Abe Yokell, Co-Founder and Managing Partner of Congruent Ventures who led the funding round, highlighted the increasing losses faced by insurance carriers from high-frequency events like thunderstorms. He also noted that even reinsurers have experienced higher than expected losses from secondary perils. Yokell believes that Demex's model can help mitigate these risks by quantifying them and reducing deviation.
Hank Hattemer, Chief Operating Officer of Blue Bear Capital, emphasized the importance of addressing higher frequency extreme weather events like severe convective storms. He praised Demex's unique approach of providing each insurer customer with a reinsurance product tailored to their specific needs based on their own data.
The investors participating in this funding round come from various sectors including climate solutions (Congruent Ventures), technology (Blue Bear Capital), seed-stage investments (Moxxie Ventures), and property technology (MetaProp). This diverse range of investors reflects the broad appeal and potential impact of Demex's innovative reinsurance solution.
With this new funding, Demex plans to continue expanding its reach and providing much-needed protection for insurers and their clients. The company's success in attracting significant investments is a testament to the value and potential of their unique approach to reinsurance.
Demex specializes in providing innovative stop-loss reinsurance protection for severe convective storms such as tornadoes, thunderstorms, hail, and wind. These types of storms have become increasingly frequent due to climate change, posing a significant challenge for the insurance industry. With their parametric reinsurance solution, Demex aims to help insurers protect their financial security.
According to Bill Clark, President and CEO of Demex, the company's model has been well-received by both customers and investors. In fact, they have already bound $65 million in reinsurance during their first selling season.
Clark expressed his gratitude towards the investors who bring a diverse range of perspectives and expertise to Demex. He believes that their climate perspective, technology capabilities, property mindset, and insurance experience will be valuable assets for the company.
More on Nyenta.com
- New Rochelle: Senior Lunch at Hudson Park
- New Rochelle: Arrangements for Hon. Leonard C. Paduano
- "Monotheism and Devils" is the theologically dedicated sequel of "Prince of Eurasia" of the Islamic cleric and executive producer Prince Oak Oakleyski
- Diisocyanates and Polyisocyanates Market to Grow by USD 13.01 Billion (2024-2028) with AI-Powered Insights, Construction Boom to Drive Revenue - Technavio
- Lumilore: The Original Story of the Dragon Who Glowed by Sabine Ruh House
Abe Yokell, Co-Founder and Managing Partner of Congruent Ventures who led the funding round, highlighted the increasing losses faced by insurance carriers from high-frequency events like thunderstorms. He also noted that even reinsurers have experienced higher than expected losses from secondary perils. Yokell believes that Demex's model can help mitigate these risks by quantifying them and reducing deviation.
Hank Hattemer, Chief Operating Officer of Blue Bear Capital, emphasized the importance of addressing higher frequency extreme weather events like severe convective storms. He praised Demex's unique approach of providing each insurer customer with a reinsurance product tailored to their specific needs based on their own data.
The investors participating in this funding round come from various sectors including climate solutions (Congruent Ventures), technology (Blue Bear Capital), seed-stage investments (Moxxie Ventures), and property technology (MetaProp). This diverse range of investors reflects the broad appeal and potential impact of Demex's innovative reinsurance solution.
With this new funding, Demex plans to continue expanding its reach and providing much-needed protection for insurers and their clients. The company's success in attracting significant investments is a testament to the value and potential of their unique approach to reinsurance.
Filed Under: Business
0 Comments
Latest on Nyenta.com
- Dollar Falls, Gold Near Record as Fed Rate Cut Speculation Grows
- Always The VIP Launches Promotional Dinner Parties at Fushimi in Times Square NYC
- Weekly Recap: 12 Health Press Releases You Might Have Missed
- TrustVare Releases PST to EML Converter: Flawless Email Conversion Made Simple
- Green Office Partner Ranked #1 on Crain's 2024 List of Best Places to Work in Chicago
- City of New Rochelle Hosts Outdoor Movie Night: "IF" on September 20th
- INDV Investors Have Opportunity to Lead Indivior PLC Securities Fraud Lawsuit
- Rochester: The International Plaza Market Sunday celebrates Hispanic Heritage Month and 3rd Annual International Salsa Day Celebration
- Demeter Fragrance Introduces "Oak": A Fragrance That Captures the Timeless Essence of Nature
- PORT AUTHORITY AND JFK MILLENNIUM PARTNERS ANNOUNCE THE INSTALLATION OF A NEW ART EXHIBIT BY RENOWNED BROOKLYN ARTIST RON BASS AT JOHN F. KENNEDY INTERNATIONAL AIRPORT'S TERMINAL 7
- Diversified Industrial Acquisition Agreement, Plus Major Contract Award for Large Fleet Trucking Provider: MingZhu Logistics: Stock Symbol: YGMZ
- Messageware Z-Day Guard v1.5 Expands MDR Security to Azure, Exchange, and Windows Servers
- Oh Polly takes on New York Fashion Week with Fashion PR Firm covering the event
- Rochester Public Market to Host 19th Annual Artist Row Sunday
- Rochester: West River Wall improvements project named APWA Public Works Project of the Year
- What is the Power of We Partners w/ Sakhi for South Asian Survivors to Combat Gender-Based Violence
- New York's JFK T6 to Set a New Standard for Travel Retail in North America in Partnership with Avolta Companies Hudson and Dufry
- Join The Flip Project to Make a Difference This Election
- European E-Signature Market Poised for Explosive Growth by 2030
- STMicroelectronics N.V. Class Action: The Gross Law Firm Reminds STMicroelectronics Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of October 22, 2024 - STM