CHARLESTON, SC and HARPENDEN, UNITED KINGDOM--(Marketwired - October 12, 2017) -weatherXchange, the platform which helps companies access index-based weather risk protection, is pleased to announce that Mitsui Sumitomo Insurance Co., Ltd., operating through its subsidiary, MSI GuaranteedWeather (MSI GW), will be providing indicative pricing as part of the launch of the weatherXchange Instantaneous Indicative Pricing service.
Instantaneous Indicative Pricing will 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 MSI GW increase their online visibility by effectively giving them a 24/7 presence and by reducing the workload and time required to close a weather hedging transaction.
"The team at MSI GuaranteedWeather represents one of the longest operating providers of risk capacity in this market," said David Whitehead, Co-CEO of weatherXchange. "We are delighted that they are joining as one of the providers of Instantaneous Indicative Pricing. Their experience with traditional and cutting edge weather hedging products makes them a great option for hedgers. Over the years, MSI GW has worked tirelessly to grow this market space, we believe that weatherXchange with instantaneous indicative pricing will help accelerate that process."
Brad Hoggatt, Chief Portfolio Manager for MSI GW, commented, "By participating in the weatherXchange instantaneous indicative pricing program, we will be able to offer customers immediate feedback and assistance in structuring weather hedging products. We pride ourselves on providing the highest level of customer service and speed of responsiveness in the industry, and our participation in this program simply furthers this commitment, while allowing us to continue offering a comprehensive suite of risk management solutions customized to meet the increasingly precise demands of risk managers today."
About MSI GuaranteedWeather
MSI GuaranteedWeather is part of a family of companies owned and operated by Mitsui Sumitomo Insurance Co., Ltd., and ultimately part of MS&AD Insurance Group Holdings, Inc., a publicly traded company headquartered in Tokyo, Japan.
MSI GW and its subsidiaries offer comprehensive weather risk management solutions (globally) as derivative (financial) contracts and as traditional insurance products (within the United States and parts of Europe).
For further information on Mitsui Sumitomo Insurance Co., Ltd., please visit http://www.ms-ins.com/english/.
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.
If your firm is experienced in the weather risk mitigation sector and is interested in working with weatherXchange as a Broker-Advisor please contact NewPartners@weatherXchange.com.
weatherXchange Limited is registered in England number 3790989 and authorised and regulated by the Financial Conduct Authority. Its registered address is Mardall House, 9-11 Vaughan Road, Harpenden, Hertfordshire AL5 4HU.