Prne
March 30th, 2009
SAN FRANCISCO - WeatherBill (www.weatherbill.com), announced today the release of
WeatherBill White Label, a complete technology solution that powers branded
third party weather insurance and weather derivative programs with a turnkey
white label platform. The platform automates weather coverage pricing,
transaction processing, and risk management functions, and provides fully
automated client, broker, and internal sales applications.
WeatherBill White Label allows insurance companies and derivatives
dealers to offer weather coverage products, on their paper, without needing
to make any of the associated actuarial or technology investments. In
addition, WeatherBill provides significant risk capacity for third party
weather programs, via its relationship with Nephila Capital, one of the
world’s largest weather risk and catastrophe reinsurance fund managers.
“WeatherBill White Label creates new growth opportunities for insurance
companies and derivatives dealers,” says David Friedberg, WeatherBill’s CEO.
“Weather coverage is a product that can be sold into nearly every industry,
region, and buyer group. This platform allows partners to concentrate on
marketing and selling weather coverage to customers, rather than build out
new pricing models or technology systems.”
WeatherBill White Label includes 5 key services: Pricing, Transaction and
Order Management, Settlement and Claim Management, Risk Management, and Risk
Capacity. WeatherBill White Label partners will include insurance companies,
weather derivative dealers, and industry-specific brokers and agents. The
platform is also available to commodities dealers in energy, agriculture, and
the public sector.
WeatherBill, Inc. (www.weatherbill.com) provides the only online service
that allows businesses to protect revenue and control costs from the impact
of bad weather. Founded by CEO David Friedberg and CTO Siraj Khaliq, former
members of the Google team, WeatherBill is funded by New Enterprise
Associates, Index Ventures, and Allen & Company and is backed by Nephila
Capital, one of the world’s largest weather risk and catastrophe reinsurance
fund managers.
Source: WeatherBill, Inc.
Regina Sinsky, +1-415-762-4378, regina at weatherbill.com
Filed under Banking and Financial Services, Computer / Electronics, Insurance, Technology, Web | Tags: california, Google, San francisco, Western Europe | Comment Below
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