Meteo Protect has been announced as the winner of the Innovation in Action Award presented by Strategy Meets Action (SMA). The SMA Innovation in Action Awards are presented annually by Strategy Meets Action a leading insurance strategic advisory firm, to celebrate innovation in the insurance industry.
Meteo Protect has been recognized for offering customized, data-driven agricultural insurance for weather-related risks. Customers can choose each parameter of their weather policies, including crop, period of coverage, specific weather event and intensity, and payment amount. Meteo Protect’s Vivaldi platform aggregates huge volumes of weather-related data from over 40 years of climate history worldwide; current readings from satellites, sensors, gauges, and other global weather data sources; and commodity prices and crop yields. Meteo Protect’s focus on the changing nature of weather risks and emphasis on the uncertain future expands the possibilities for the personalization of insurance products and services.
“Our annual awards program gives SMA the opportunity to recognize truly innovative projects, solutions, and initiatives within the insurance industry. In the five years of the program, we have seen clear evidence of the incredible strides being made within our industry by insurers and solution providers alike. It’s a great time to be in insurance,” said Karen Furtado, SMA Partner. “We congratulate all of the winners and participants on their successes and creativity in reinventing insurance for the 21st century!”
“We are delighted to see Meteo Protect recognized as an Innovation in Action Award winner,” says Gabriel Gross, President and CEO, Meteo Protect. “Meteo Protect created an app that lets customers state their policy specifications and then uses the SAP HANA® platform to aggregate huge volumes of weather-related data from multiple sources, analyze risks, and present price quotes – all in real-time. Clients can perform multiple simulations for hedging all their weather risks with the most cost-effective financial cover.”
Meteo Protect is highlighted in the SMA Special Report, “The 2016 SMA Innovation in Action Awards: Insurer Case Studies”. This special report contains case studies on all 20 submissions for the 2016 SMA Innovation in Action Awards for Insurers, including the four winners: Meteo Protect, Motorists Insurance Group, Texas Mutual Insurance Company, and Figo Pet Insurance. It includes SMA commentary on the innovative and noteworthy aspects of the winning projects and initiatives.
The SMA Innovation in Action Awards were presented at the SMA Summit, a sold-out, must-attend event for insurance leaders who are thinking, planning, and executing toward the goal of becoming a Next-Gen Insurer.
About Meteo Protect
Meteo Protect offers financial products that protect companies and institutions when weather conditions adversely impact their business or profits or generate additional costs. Meteo Protect is an insurance and reinsurance broker with the largest team in Europe dedicated exclusively to weather risk management.
About Strategy Meets Action
Strategy Meets Action (SMA) is a leading strategic advisory services firm exclusively serving the insurance industry. Working with both business and technology leaders, we are a trusted and valued advisor to hundreds of companies and an instrumental influencer across the industry. SMA, a Boston-based firm founded in 2007, offers consulting and advisory services for the Property and Casualty and Life and Annuities companies, as well as the technology, data, services, and solution providers that support it.
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