Charleston, SC (Oct. 17, 2017) — weatherXchange, the platform which helps companies access index-based weather risk protection, is pleased to announce that Munich Re will be providing indicative pricing as part of the forthcoming weatherXchange Instantaneous Indicative Pricing service.
Instantaneous Indicative Pricing will help streamline the structuring process for hedgers and brokers by providing an immediate idea of the costs of a structure without the need to approach the Protection Seller in person. Introduction of this service on the weatherXchange platform helps companies such as Munich Re increase their online visibility and web presence by effectively giving them a 24/7 presence and by reducing the workload and time required to close a weather transaction.
“As one of the largest Protection Sellers in the weather market we are excited that Munich Re will be participating in the Instantaneous Indicative Pricing service,” said David Whitehead Co-CEO of weatherXchange. “Munich Re has years’ of experience covering all transaction types from traditional weather hedges to cutting-edge products. Their flexibility on deal size, geography, and type of coverage will be a benefit for all market participants. We believe that the efficiency of the weatherXchange platform with instant pricing will further enhance Munich Re’s ability to quickly serve those interested in weather risk protection.”
“Munich Re is pleased to be an originating member of the weatherXchange platform,” said Mark Tawney, President at Munich Re Trading LLC. “Munich Re’s relationship with weatherXchange is an additional step in our long term focus in valuing technology as a strategic asset in our business. We are committed to providing our clients with continuous access to our products and competitive risk capital. This partnering will present our clients with increased transparency and efficiencies in managing their weather risk exposures.”
About Munich Re
For more than 135 years, Munich Re has been tackling the major challenges of the future. Our long-standing involvement in weather-related coverage, excellent financial strength, highly experienced global team and networks, safeguards business against the whims of nature and adds value to businesses.
Our business model is based on the combination of primary insurance and reinsurance under one roof. We take on risks worldwide of every type and complexity, and our experience, financial strength, efficiency and first-class service make us the first choice for all matters relating to risk. Our client relationships are built on trust and cooperation.
Munich Re Trading LLC, a subsidiary of Munich Re, transacts derivative-based risk products primarily to address weather, commodity and other energy related risks.
weatherXchange Limited is part of the Speedwell Weather group of companies which have been involved in the index-based weather risk market since its earliest days in 1999.
The weatherXchange Platform links Hedgers, Broker-Advisors and Protection Sellers thereby helping businesses with weather risk to more easily access weather risk protection. weatherXchange provides free access to thousands of worldwide quality weather data sets and a user-friendly tool to simplify the design of weather protection contracts. These can then be sent at a click of a button to multiple Protection Sellers for pricing. The weatherXchange Platform also offers post-transaction services necessary to settle a transaction and to monitor the performance of a hedge.
For further information on weatherXchange please visit www.weatherXchange.com
Source: Munich ReTags: Instant Pricing, Instantaneous Indicative Pricing, Munich Re, platform, weatherXchange