The Demex Group

The Demex Group is an insurance technology company that provides the first modeled-loss reinsurance solution for non-catastrophic weather-related losses, addressing the insurance industry's most urgent challenge of secondary peril loss accumulation. The company's products include Demex Severe Convective Storm Reinsurance (SCS Re) and Winter Storm Reinsurance (WS Re), which cover losses from tornadoes, hailstorms, derechos, thunderstorms, straight-line winds, extreme cold, inland flooding, and extreme heat. These secondary peril losses have surpassed all annual catastrophe losses, with $71 billion in global insured losses from severe convective storms in 2023 and $1,165 billion in cumulative insured losses from secondary perils from 2000 to 2023. Demex's solution serves three stakeholder groups: insurers can protect annual earnings, surpluses, and credit ratings in volatile climate markets; brokers can supplement traditional weather reinsurance programs with coverage for more frequent weather losses; and reinsurance providers can re-enter the secondary perils market with a financially viable modeled-loss solution. The company's customers range from regional and mutual insurance companies to national carriers, partnering with the world's largest reinsurance brokerage companies representing 90% of the market and A-rated capacity providers. Founded in 2019 and headquartered in Washington, DC, The Demex Group has raised $28.4M in Series A funding from investors including Anthemis Group, Blue Bear Capital, qbe-ventures.com, IA Capital Group, Congruent Ventures, Moxxie Ventures, and MetaProp.

Cybersecurity > Anti Fraud > Financial Fraud,

GRC Software > Risk Management > Industry > Finance,

Security & Surveillance Technology > Tech Enabled Service,

Banking Tech > RegTech > Diversified,

RegTech > Risk Management > Risk Type > Diversified