Meteo Protect, an SAP® Startup Focus member, and Europe’s leading provider of weather risk insurance, has been nominated by stakeholders, users and experts as a leading “Insur Tech” for the European Fintech Awards 2017. Winners will be determined by a combined public vote and expert assessment, with awards being given at the European Fintech Awards and Conference in Brussels on 27 September. The European Fintech Awards 2017 celebrates “innovators that shape the future”.
The largest professional agricultural association in Spain, the Agricultural Association of Young Farmers (ASAJA JAEN), has launched Meteo Protect’s dedicated weather insurance platform in order to provide its 22,000 affiliates access to Meteo Protect’s fully customized index-based weather insurance and increase their resiliency against climate-related risks.
In London this past week, FinTech City announced the FinTech50- an annual list of the 50 hottest FinTechs in Europe selected by the biggest names in European FinTech. Now in its 5th year, the international expert panel of investors, financial organisations and global tech and influencers narrowed down their list from 1500 companies. Of these, Meteo Protect, an SAP® Startup Focus member, and Europe’s leading provider of weather risk insurance, was recognized at this event as a Hot Ten 2017, “the one to watch” in 2017.
Millions in revenue lost for delays, cancellations and rerouting of sports events
It was the first day medals were to be awarded for the Olympic rowing regatta, and yet no racing was taking place. Rain and persistent strong winds lashed the Rodrigo de Freitas lagoon in Rio de Janeiro leading to the postponing, and eventually, the cancellation, of racing, with organizers and team managers scrambling to prepare a revised schedule for the following day. Similarly, tennis competitions were delayed on outside courts.
In fact, the weather has been a hot topic for a number of sports this year. In June, it sparked outrage among players in the French Open, with the first complete cancellation of matches at the French Open since the year 2000 and other damp days resulting in delays and frustrations from players and organizers alike. Guy Forget, the Director of the Roland Garros Tournament, took the brunt of criticism for the controversial decision to play as long as possible, even in conditions considered difficult if not dangerous, by the competitors.