Demex’s RCR Re Wins Insurance Insider InsurTech Product of the Year

Follows Market Validation of breakthrough parametric reinsurance solution for secondary perils

The Demex Group , the risk analytics and intelligence company offering breakthrough reinsurance solutions for severe convective storms, had its RCR Re solution named InsurTech Product of the Year at the prestigious Insurance Insider US Honors 2024 event, held in New York City on September 19.

“Severe storm modeling and (re)insurance capacity is one of the biggest issues we face today and Demex has begun to solve both. The thesis and approach are outstanding. Demex is one to watch,” said the judges.

The award was given for a successful launch of a product or service that transfers and/or distributes (re)insurance risk in more effective, innovative, and revolutionary ways. The breakthrough parametric reinsurance solution Demex has developed addresses the biggest weather-related challenge to the property insurance industry - severe convective storms.?

“To receive this honor, when there are hundreds of exciting InsurTech offerings in the market, makes us very proud. The award affirms how important Demex’s parametric reinsurance product is in addressing the existential threat insurance carriers are facing from the accumulation of losses from secondary perils,” said William Clark , CEO Demex. “This is a testament to the hard work and expertise of the Demex team, our reinsurance broker partners, the members of our capacity network, and our initial clients.”?

The award follows an oversubscribed funding round and three leading reinsurance luminaries joining the Demex Advisory Board.