The Demex Group raised $10.25 million in a Series A funding round led by Congruent Ventures to address the growing demand for its innovative weather-related reinsurance solutions.
Blue Bear CapitalMeta PropMoxxie VenturesCongruent Ventures
Description
The Demex Group has successfully raised $10.25 million through a Series A funding round led by Congruent Ventures. The investment aims to enhance its parametric reinsurance solutions that tackle severe storm-related losses amid increasing climate change impacts.
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Company Information
Company
The Demex Group
Location
Washington, District Of Columbia, United States
About
Demex is an independent data and analytics company that partners with reinsurance brokers, insurers, and reinsurers to solve the rising challenge of frequent property losses from secondary perils. Demex models loss accumulation based on weather and claims data, informed by climate research, and provides parametric stop-loss solutions that meet the needs of insurers and reinsurers. Demex is a market-maker for a class of risk that is surpassing catastrophe losses – a cluster of losses from secondary perils that threatens not only insurers' annual earnings but also the sustainability of their businesses.
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