The global platform that offers companies access to index-based weather risk protection, weatherXchange, has revealed that MSI GuaranteedWeather (MSI GW), a Mitsui Sumitomo Insurance subsidiary, is to provide the weatherXchange Instantaneous Indicative Pricing service with indicative pricing.
This comes after WeatherXchange announced Sompo Global Weather, a division of Sompo International Holdings, as another designated indicative pricing service provider.
“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.”
According to weatherXchange, 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.
