Proof

ClimateDelta may be new. We aren’t.

Our team has been working in weather risk for more than 25 years. Collectively, we bring more than 150 years of experience across the Energy and Insurance Weather Risk Economies.

During that time, we have originated, researched, analyzed, priced, structured, underwritten, placed, and managed more than 10,000 energy and insurance transactions.

We’ve worked across the value chain—with risk owners, brokers, wholesale brokers, MGAs, MGUs, primary insurers, reinsurers, ILS providers, ratings agencies, underwriters, actuaries, and executive teams.

And we’ve done it around the world. The United States. Canada. Brazil. The United Kingdom. Germany. Ukraine. Australia. Japan. And beyond.

That’s the résumé.

But it isn’t really the proof.

We’ve made money.

We’ve lost money.

Fortunately, we’ve made more than we’ve lost.

We’ve seen structures work exactly as intended and others behave differently than expected. We’ve seen markets develop, disappear, and return. We’ve watched good ideas fail because the economics didn’t work. We’ve watched other ideas fail because the technology, distribution, capital, or operating infrastructure wasn’t there to support them.

We’ve learned what happens after the model meets the market.

That experience matters because weather risk looks deceptively simple from the outside. Find the weather data. Build an index. Price the risk. Write the contract.

The real world is messier.

Data matters. Basis risk matters. Structure matters. Price matters. Distribution matters. Capital matters. Operations matter. Counterparties matter. And experience matters when several of those things start interacting at the same time.

We’ve been there.

One transaction teaches you about a risk.

Thousands begin to teach you about a market.

Patterns emerge. You learn which questions need to be asked earlier. You recognize exposures that look attractive but contain hidden problems. You learn where models deserve confidence and where judgment still matters. You discover how differently a trader, underwriter, actuary, broker, carrier, reinsurer, and capital provider can look at exactly the same risk.

Most importantly, you begin to understand that the transaction itself is only part of the problem.

The surrounding system matters.

That experience is embedded in the way we think about ClimateDelta: the need for Weather Intelligence and Risk Analytics; two distinct workflows for Energy and Insurance; a System of Record; Weather-on-Rails™ connecting market participants; tools for modeling programs, portfolios, and reinsurance; and an operating platform that allows all of those pieces to work together.

ClimateDelta wasn’t designed from a blank sheet of paper. It was designed from experience.

The Weather Risk Economy is an ecosystem.

We’ve worked with the companies that own the risk and the intermediaries trying to transfer it. We’ve worked with the underwriters deciding whether to assume it, the actuaries trying to understand it, the executives allocating capital to it, the reinsurers taking another layer of it, and the capital providers evaluating whether the return justifies the exposure.

Those perspectives don’t always agree.

That’s useful.

Understanding a market means understanding why intelligent people sitting on opposite sides of a transaction can see the same risk differently. Building infrastructure for that market requires understanding what each of them needs to make a decision.

That perspective has accumulated over decades.

We aren’t quite sure where the line is between knowledge, expertise, and wisdom.

Knowledge comes from learning how something works.

Expertise comes from doing it repeatedly.

Wisdom may be what remains after you’ve done it repeatedly, gotten some things right, gotten some things wrong, put real money behind your judgment, and paid attention to what happened.

We’re pretty far along that path.

And we’re still learning.

Weather is changing. Technology is changing. AI is changing what is possible. New forms of capital are entering markets. New risks are becoming measurable. The protection gap remains enormous.

Twenty-five years of experience doesn’t give us all the answers.

It gives us better questions.

And we’re building ClimateDelta around what we’ve learned.