SAP® has recognized Lloyd’s Coverholder Meteo Protect, Europe’s leading provider of weather risk management solutions, as a finalist for an SAP Pinnacle Award in the ISV Partner of the Year – Market Expansion Award category.
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Whilst this month’s mild temperatures across Europe have been pleasant to many of us, they represent a very real financial risk for energy providers, who sell much less electricity and gas than during a cold year due to a reduction in use of heating appliances. In fact, during the first 3 weeks of January, temperatures reached their highest levels since 2010, with a significant impact on energy consumption. The average power consumption in France is more than 12GW lower than at the same period last year, or the equivalent of the production of 12 nuclear power plants! Continue Reading
Meteo Protect, the European leader in weather risk management, has been named a Coverholder at Lloyd’s, the specialist insurance market. In this capacity, Meteo Protect holds the authority to underwrite and issue policies on behalf of Lloyd’s syndicates. Meteo Protect’s Coverholder status connects it with Lloyd’s worldwide specialist insurance and reinsurance market; Lloyd’s covers more than 200 territories globally.
“We are extremely proud of this expression of trust from Lloyd’s. Meteo Protect’s Coverholder relationship with Lloyd’s offers a wealth of new opportunities to provide weather index-based insurance to the market” said Gabriel Gross, CEO of Meteo Protect. “As the market has developed with a significant growth in weather sensitive businesses seeking customized hedging solutions, so has Meteo Protect evolved to have strong international distribution partnerships with leading risk takers, financial institutions and agricultural cooperatives and associations, now including the specialist classes of business underwritten at Lloyd’s.”
“The Lloyd’s market is always innovating and bringing insurance solutions to meet the needs of businesses and organisations across the world. We are delighted for Meteo Protect to deliver innovative climate change mitigation solutions to Lloyd’s syndicates”, says Guy-Antoine de La Rochefoucauld, Director for Lloyd’s France. “The Lloyd’s Coverholder structure allows innovation-driven providers like Meteo Protect to bring new ideas and expertise to businesses with the strong financial backing for which Lloyd’s is recognised.”
“The Lloyd’s Coverholder structure allows innovation-driven providers like Meteo Protect to bring new ideas and expertise to businesses with the strong financial backing for which Lloyd’s is recognised.”
Guy-Antoine de La Rochefoucauld, Director for Lloyd’s France
Meteo Protect is an underwriting and brokerage firm specializing in structuring, pricing, delivering and managing weather parametric insurance for weather-sensitive businesses with a focus on the agriculture and agri-food and the energy sector. Meteo Protect’s proprietary white label underwriting and pricing platform, Vivaldi, allows insurance companies to provide full automated and customized weather risk financial solutions to their clients. It leverages the SAP HANA® platform to provide completely customized insurance for any weather-related risk.
With business across three continents, Meteo Protect currently works with several major global and local insurers, cooperatives and associations in the agriculture world to provide protection on weather risks to their clients or members, and with eight of the fifteen largest energy companies worldwide in helping them to reduce or even eliminate their exposure to volumetric and price risks.
The French Revolution averted, Marie Antoinette saved from the guillotine…
The very real way that French history could have been changed with a simple market tool
« Then let them eat cake ». Widely mistakenly attributed to Marie Antoinette, it is one of the most famous quotations in history, supposedly uttered by the Queen of France during one of the famines that occurred during the reign of her husband, Louis XVI. As the people of France suffered due to widespread bread shortages, the Queen is supposed to have suggested brioche as an alternative, being completely oblivious to the fact that it is enriched with butter and eggs, making it more expensive and unavailable than bread. The words have risen to fame as symbolically important to revolutionary historians explaining the violent overthrow of the monarchy that was to follow.