SOURCE: weatherXchange

weatherXchange

October 09, 2017 10:49 ET

Sompo Global Weather to Provide Instantaneous Indicative Pricing on the weatherXchange platform

CHARLESTON, SC and HARPENDEN, UNITED KINGDOM--(Marketwired - October 09, 2017) - weatherXchange®, the platform which provides companies with ready access to index-based weather risk protection, is pleased to announce that Sompo Global Weather 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 offers potential buyers with online visibility to companies such as Sompo, a creator of value-added solutions for companies in the global energy, construction, transportation, renewable energy, retail and agriculture industries.

"We are excited to have Sompo Global Weather participate in the provision of Instantaneous Indicative Pricing. We believe instant pricing can dramatically improve market efficiency especially in the early stages of tailoring a weather hedge," said David Whitehead Co-CEO at weatherXchange. "Sompo has a long track record of innovative thinking, in-depth market knowledge, and the ability to offer a wide range of index-based weather structures."

Mr. Martin Malinow, President Sompo Global Weather, added, "We are excited at the opportunity to partner with weatherXchange to offer market-leading access to Sompo's WeatherLock products. Our unique analytic platform allows for instantaneous pricing for clients which we believe will expand demand for our products to new clients across weather-exposed industries."

About Sompo Global Weather

Sompo Global Weather is part of Sompo International Holdings Ltd., a wholly owned subsidiary of Sompo Holdings, Inc., whose core business encompasses one of the largest property and casualty insurance groups in the Japanese domestic market. Sompo Global Weather writes tailored weather-driven risk management products indexed to weather variables measured and reported by global meteorological agencies and commodity price indices published by exchanges and other independent organizations.

About weatherXchange

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. weatherXchange® is an independent platform which provides free access to thousands of quality weather data sets worldwide and a user-friendly tool to simplify the design of weather protection contracts. weatherXchange links Hedgers, Broker-Advisors and Protection Sellers thereby helping businesses with weather risk to more easily access weather risk protection. 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 or contact: ClientOnBoarding@weatherXchange.com.

If your firm is experienced in the weather risk mitigation sector and is interested in working with weatherXchange as a Protection Seller 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.

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