August 12, 2020
The Demex Group made our market debut on August 11, 2020 and our origin-story was profiled by The Washington Post. It was exciting to debut in our hometown news! We’re HQ’d in Washington, DC with offices in Brooklyn, NY and Raleigh, NC. It was even more exciting that our longtime partner and customer, David Salnave, leads the WaPo story. David explains why he has chosen to work with the Demex team over the years. He’s a busy guy, overseeing landscaping and snow removal for a world leader in real estate services, Jones Lang Lasalle. David and all of our Demex partners know the weather isn’t consistent from year to year. They work with us to prevent year-to-year fluctuations in costs driven by variable weather.
Demex recently emerged from Munich Re. Munich Re covers the entire value chain of reinsurance, primary insurance, and insurance-related risk solutions. We formed a stand-alone endeavor with the risk capacity of Munich Re Trading and Nephila Capital along with Seed investment from Anthemis and IA Capital Group.
Matt Perlman, Partner at IA Capital Group said: “Managing operational climate risk is quickly becoming an imperative for businesses across a growing array of industries. The Demex Group’s ability to analyze a client’s specific exposures in a very granular way and generate a precisely calibrated risk transfer solution goes far beyond traditional weather derivatives and represents the frontier of parametric insurance.”
Our founder, and the mastermind behind Demex, Ed Byrns, likes to say that we offer a “shock absorber for businesses coping with extreme weather and climate change.”
For example, winter-storms along the Eastern Seaboard of the U.S. demonstrate significant volatility and extremes.
We’re tracking this new era with the Demex Winter Impact Score. We combine snowfall, frozen precipitation, and temperature from Atlanta to New York City into a single metric. The index is a proxy for snow and ice removal costs for property managers as well as the associated revenue for removal services. The score of “100” is a true Snowmageddon while a score of “1” is an absolute snow-drought. Demex customers don’t suffer unwanted P&L volatility that can accompany this year-to-year trajectory.
Learn more about how we can work with your business to protect revenue or control costs driven by weather volatility.