Paris, France – July 17, 2017:
Meteo Protect, an SAP® Startup Focus member, and Europe’s leading provider of weather risk insurance, has been nominated by stakeholders, users and experts as a leading “Insur Tech” for the European Fintech Awards 2017. Winners will be determined by a combined public vote and expert assessment, with awards being given at the European Fintech Awards and Conference in Brussels on 27 September. The European Fintech Awards 2017 celebrates “innovators that shape the future”.
Gabriel Gross, CEO of Meteo Protect, commented: “We are honoured to be nominated for the European Fintech Awards 2017. In responding to the need for companies to respond increased weather risks, we have produced an index insurance platform that allows insurance companies, agricultural cooperatives and others to provide fully customizable index-based weather insurance to their clients and/or members. Today, agricultural operations, energy distributors, and manufacturers are just a few examples of companies using our full-service underwriting and pricing platform across nine countries. We are ensuring that every company has the means to become resilient to the effects of climate change on their industry.”
Meteo Protect is a Lloyd’s coverholder, licensed broker and MGO, offering insurance, reinsurance and derivatives. 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. Its parametric risk transfer solutions are designed to pay in case of adverse weather conditions, with each solution based on a weather index that reflects the unique financial exposure to weather risk of a specific business.
Meteo Protect currently works with eight of the fifteen largest energy companies worldwide in helping them to manage 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 nominated for the European Fintech Awards 2017, Meteo Protect was recently recognized as a Hot Ten FinTech 2017 by Fintech City, and was 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.