London Markets

You built a market for the unusual. We have some unusual risks for you.

Leadenhall Street. Lloyd’s. Brokers moving between underwriting boxes. Risks discussed face-to-face and, occasionally, over a drink in a nearby pub.

London has always been more than a geographic insurance market. It is a marketplace built around a particular idea: bring us the risks that are difficult to understand, difficult to price, difficult to place, or simply too unusual for everyone else.

Marine. Aviation. Political risk. Kidnap and ransom. Cyber. Space.

Again and again, new categories of risk have found their way to London because somebody was willing to understand something that previously looked difficult to insure.

We think weather belongs on that list.

Businesses around the world carry weather exposures that conventional insurance frequently leaves untouched.

A construction project loses weeks to rain. A business loses revenue during extreme heat. A ski resort gets too little snow. An agricultural enterprise gets too little rain—or too much. An event suffers because the weather keeps customers away. A renewable energy asset produces less power because the wind doesn’t blow.

The risks are different. The underlying question is familiar:

Can we understand it? Can we measure it? Can we price it? Can we transfer it?

Increasingly, the answer is yes.

Weather data has become richer. Analytical methods have improved. Parametric structures allow objectively measurable events to become the basis for insurance protection. Risk can be modeled, underwritten, priced, monitored, and transferred in ways that were difficult to achieve before.

That sounds rather like a London Markets opportunity.

ClimateDelta is the AI-powered operating platform for the global Weather Risk Economy.

It brings Weather Intelligence, Risk Analytics, program modeling, underwriting, pricing, portfolio management, reinsurance modeling, policy administration, monitoring, and parametric payment into a common operating environment.

For a London underwriter or broker, that creates an interesting possibility.

Start with the exposure.

What weather risk has a client learned to live with because nobody has offered a sensible way to insure it? What industry has a recurring financial exposure that has never quite fit traditional coverage? What risk has always been dismissed as too specialized, too bespoke, or too difficult to operationalize?

Bring us that one.

ClimateDelta provides an environment in which the exposure can be analyzed, a structure can be tested, the economics can be modeled, and—where the risk works—an insurance program can begin to take shape.

The technology investment has already been made.

You can spend your time on the risk.

London’s advantage has always included people who are curious about risk.

ClimateDelta gives those people a new set of tools.

Imagine sitting with an unusual weather exposure and being able to interrogate decades of weather history, examine the relationship between the event and financial loss, experiment with triggers, change attachment points, test payout structures, model expected outcomes, examine basis risk, alter pricing assumptions, build a hypothetical portfolio, add reinsurance, change the retention, and run it again.

Then try another structure.

And another.

The purpose is not to replace underwriting judgment. It is to give underwriting judgment a much larger analytical canvas on which to work.

For the right kind of underwriter, that should be fun.

ClimateDelta was built to make more weather risk understandable, priceable, and transferable.

London has built its reputation by doing exactly that with risks other markets struggled to accommodate.

So we have a proposition.

Bring us something unusual.

A weather exposure you’ve wanted to solve. A client problem that never quite fit an existing policy. A peril nobody has turned into a scalable program. An idea you’ve had but never had the technology or economics to pursue.

Let’s put it on ClimateDelta and see what we can build.

We’re looking for the London Market participants who want to go first.

Is that you?