Paris, France – June 12, 2017 :
In London this past week, FinTechCity announced the FinTech50- an annual list of the 50 hottest FinTechs in Europe selected by the biggest names in European FinTech. Now in its 5th year, the international expert panel of investors, financial organisations and global tech and influencers narrowed down their list from 1500 companies. Of these, Meteo Protect, an SAP® Startup Focus member, and Europe’s leading provider of weather risk insurance, was recognized at this event as a Hot Ten 2017, “the one to watch” in 2017.
Gabriel Gross, CEO of Meteo Protect, today commented: “We are thrilled to be included in the Hot Ten 2017, honoured alongside such industry greats. Climate change resiliency and adaptation have demanded the creation of a new segment of the insurance market. Weather risks are a niche of that market, but an important one.”
“Our team is constantly striving to create and organize the market in order to provide new solutions to climate change,” he continues. “With the support of the reinsurance providers that collaborate with us and the trust of the clients who use our service in nine countries, we are rapidly expanding. For the first time in FinTech, weather risks are being recognized as a major issue and we are pleased Meteo Protect is acknowledged to be leading the charge.”
Meteo Protect’s flagship product, Vivaldi for Insurers, leverages the SAP HANA® platform to provide insurance companies and agriculture cooperatives with the means to distribute weather index-based insurance customized and priced in real time for their clients. In addition, Meteo Protect currently works with eight of the fifteen largest energy companies worldwide in helping them to reduce or even eliminate their exposure to volumetric and price risks across North America, Europe and Asia.
Meteo Protect also provides its underwriting and pricing platform to a variety of agricultural cooperatives, including France’s largest grain cooperative, Axereal, to insure its 16,000 members, the association of olive growers in the Jaen region of Spain, Asaja, for its 22,000 olive growers there, and the National Union of Potato Producers of France (UNPT). Meteo Protect has also developed a dedicated index for French wine cooperatives.
In addition to being recognized as a Hot Ten FinTech 2017, Meteo Protect was recently awarded Best Broker for Weather Risks in Europe in the 2016 Environmental Finance Market Rankings, winner of the 2016 Innovation in Action Award presented by Strategy Meets Action, and recognized in the Constellation SuperNova Awards for disruptive technology leadership.
For Meteo Protect:
: +33 (0)1 84 16 66 11
About Meteo Protect
Meteo Protect creates fully-managed parametric weather insurance products to protect businesses when the weather impacts their financial performance. A broker and underwriter based in Paris, and already active in eight countries, Meteo Protect covers risks anywhere in the world, and its solutions are supported by the largest insurers and reinsurers in the market. Meteo Protect is a Lloyd’s coverholder, is registered with ORIAS, and is a member of CNCIF.
Meteo Protect has strong international distribution partnerships with leading, financial institutions, agricultural cooperatives, and associations. Insurance companies use Meteo Protect’s white label, web-based underwriting and pricing platform to create parametric insurance for their clients. The policies are underwritten and managed by Meteo Protect’s award winning platform, Vivaldi, running on SAP’s HANA technology and certified by SAP.