Demex develops novel risk transfer products for insurers. Demex’s first product helps insurers address the massive gaps opening up in reinsurance markets as, for the first time, insurer’s losses caused by extreme weather, like severe thunderstorms, exceed losses from catastrophes, like hurricanes and earthquakes. The Demex team combines expertise in traditional reinsurance product design and parametric insurance with expertise in weather data and modeling to create the solution: a parametric reinsurance product that insurers can use to precisely target their exposure to non-catastrophic weather events. Demex won the ‘Insurtech Product of the Year’ at the 2024 Insurance Insider Honors and ‘Innovation in Parametrics (Weather and NatCat – Private Sector)’ at the global Parametric Insurer Awards 2024.
