Demex raises $5 million from Blue Bear Capital
Climate change’s repercussions are more palpable than ever. Since the 1980s, we’ve seen a five-fold increase in non-catastrophic weather events like droughts, heatwaves, and storms. Such meteorological shifts have led to a burgeoning protection gap for insurers and corporations, as they grapple with unpredictable claims and earnings.
Addressing this challenge is The Demex Group , which recently secured a $5 million funding boost from Blue Bear Capital , elevating its total funding to $18 million. As a technology-driven MGA, Demex provides end-to-end risk transfer solutions, tailored to insurers’ and corporates’ climate exposures.
The Demex Group recently unveiled their snowfall insurance, underwritten by Evanston Insurance Company, a subsidiary of Markel.
“This additional investment empowers us to deliver new weather risk transfer capabilities to insurance companies that are facing escalating losses due to the increased frequency of non-catastrophic weather events. Severe convective storms (SCS) cause accumulated losses in midwestern states that exceed hurricane losses in coastal states. SCS loss accumulation increasingly causes earnings unpredictability, credit rating downgrades, and even insolvency for insurance companies. Our reinsurance broker distribution partners and our risk capacity network are eager to address this risk and DemexRCR Re is the first purpose-built solution designed specifically for severe thunderstorms.” – Bill Clark, Demex CEO.