Demex
Demex is a Munich Re spinout that builds parametric and modeled-loss reinsurance products covering secondary weather perils — primarily severe convective storms and winter storms — for primary insurers and reinsurers, distributed through leading global reinsurance brokers.
- Company typePrivate
- Founded2020
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Demex does
Demex (legal entity Parametrix Group Holdings, Inc dba The Demex Group) is a New York-based, venture-backed reinsurance technology company founded in 2020 as a spinout from Munich Re. The company builds modeled-loss and parametric reinsurance products that protect primary insurance carriers from accumulation of secondary weather peril losses — primarily severe convective storms (SCS Re), winter storms (WS Re), and a broader stop-loss structure (RCR Re) — addressing a coverage gap left by retreating traditional reinsurance markets.
The underlying platform combines climate science, machine learning, and insurance-domain modeling. Its proprietary Client Calibration Methodology trains probability distributions on each cedent's own historical claims and geo-financial data rather than industry-standard catastrophe assumptions, and its Proxy Claims Index powers a parametric stop-loss mechanism intended to minimize basis risk. Climate-conditioned forward probability distributions factor in climate-change signals, with modeled perils including tornadoes, hailstorms, derechos, thunderstorms, straight-line winds, and winter storms.
Demex distributes exclusively through six of the world's largest reinsurance brokers — Howden, Guy Carpenter, AcrisureRe, Gallagher Re, BMS, and others representing roughly 90% of the brokerage market — and sources A-rated reinsurance capacity for its structures. Pricing is quote-based and tailored per cedent, with revenue generated as premium or structuring fees on bound reinsurance coverage. The company has raised $28.5 million in total funding across rounds in 2020, 2021, 2023, and 2024 from climate- and insurtech-focused investors including Congruent Ventures, Blue Bear Capital, Anthemis Group, QBE Ventures, MetaProp, and Moxxie Ventures, and shifted into a market expansion stage under a newly appointed CEO in December 2025.
Demex firmographics
Firmographics- Name
- Demex
- Legal name
- Parametrix Group Holdings, Inc dba The Demex Group
- Website
- https://thedemexgroup.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Demex is a Munich Re spinout that builds parametric and modeled-loss reinsurance products covering secondary weather perils — primarily severe convective storms and winter storms — for primary insurers and reinsurers, distributed through leading global reinsurance brokers.
- Ownership category
- akta.pro rank
Demex industry classification
Industry- Product category
- Parametric Reinsurance
- NAICS
- Reinsurance Carriers (52413), Reinsurance Carriers (524130)
- SIC
- Fire, Marine & Casualty Insurance (6331)
- akta.pro primary industry
- Parametric Catastrophe Reinsurance (FSAOACAG)
- akta.pro secondary industries
- Catastrophe Excess-of-Loss (XoL) Reinsurance (FSAOACAH), Catastrophe Risk Modeling & Analytics Services (FSAOACAL), Resilience Finance & Risk Transfer Analytics (Parametric Design, Cat Bonds, Public Risk Pools) (EUABALAK)
Keywords
Where Demex is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Demex business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Reinsurance Premium Revenue: Demex generates revenue by providing parametric modeled-loss reinsurance solutions to insurance companies. The company earns reinsurance premiums from coverage provided against aggregate losses from secondary weather perils like severe convective storms. Primary insurers pay premiums for protection that triggers when accumulated losses surpass predefined thresholds.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Demex product offering
Product offeringCore offering
Demex is a modeling and calculation agent that enables parametric modeled-loss reinsurance for insurance companies, addressing secondary weather perils such as severe convective storms and winter storms. The company combines climate science, machine learning, and financial modeling through a proprietary client-calibrated platform to deliver recurring reinsurance solutions that protect insurance carriers' earnings from frequent, non-catastrophic weather losses.
Product overview
Demex is a technology-enabled reinsurance solution provider offering a portfolio of parametric and modeled-loss reinsurance products for secondary weather perils. The core offerings include SCS Re (Severe Convective Storm Reinsurance) for tornado, hail, and thunderstorm losses; WS Re (Winter Storm Reinsurance) for winter storm coverage; and RCR Re (Retained Climate Risk Reinsurance) as a parametric stop-loss solution. All products leverage Demex's proprietary client calibration methodology combining climate science, machine learning, and insurance expertise to address the growing secondary peril protection gap that has surpassed primary catastrophe losses.
Differentiator
Problem solved
Functional benefit
Brands
- SCS Re (Severe Convective Storm Reinsurance): A unique reinsurance solution to protect the earnings and surpluses of insurance companies from severe convective storm losses.
- WS Re (Winter Storm Reinsurance)
- RCR Re (Retained Climate Risk Reinsurance)
Products and services
- SCS Re (Severe Convective Storm Reinsurance)
Quantifiable outcome
- $140M+ in coverage placed through 6 leading reinsurance brokers
- +5 more outcomes
Companies that use Demex
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
Demex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature4 records
Demex partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- HowdencoreOne of the world's largest reinsurance brokers, now selling Demex's SCS reinsurance solution to their insurance company clients. Part of the 6 leading brokers representing 90% of the market.
- Guy CarpentercoreGlobal reinsurance broker and risk specialist, distributing Demex's parametric reinsurance products for secondary peril coverage.
- AcrisureRecoreReinsurance broker partner co-hosting webinars with Demex on reducing insured losses from SCS. Actively selling Demex solutions to their carrier clients.
- Gallagher RecoreGlobal reinsurance broker selling Demex's SCS reinsurance solution. One of the 6 leading brokers engaged with Demex.
- BMScoreReinsurance broker partner distributing Demex products as part of the broker network.
- AM BestcoreRating agency partnering with Demex on educational webinars about capital treatment of property catastrophe reinsurance products and how AM Best considers different reinsurance solutions in their rating process.
- Innovated HoldingscoreMutual insurer customer that purchased Demex's aggregate working-layer reinsurance solution for frequent severe convective storm losses. CEO Jake Black has publicly endorsed the product.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
Demex competitors and assessment
Company assessmentBroad incumbents
- Beazley: Beazley is a global specialty insurer and reinsurer writing property catastrophe and specialty lines, including weather-exposed business. While not a parametric pure-play, Beazley provides alternative capacity for the same cedent relationships Demex targets and increasingly invests in structured and ILS-style solutions.
- RenaissanceRe: RenaissanceRe is a specialty reinsurer with deep catastrophe and property exposure, and a long-time leader in catastrophe bond and ILS issuance. RenaissanceRe writes significant aggregate and working-layer reinsurance and competes for cedent relationships on secondary perils, with similar risk-transfer economics to Demex.
- Swiss Re: Swiss Re is one of the world's two largest reinsurers and a major provider of property catastrophe and weather reinsurance capacity. It competes with Demex for the same cedent relationships on the reinsurance side and offers broader traditional and structured reinsurance solutions that overlap with Demex's parametric modeled-loss products.
- Munich Re: Munich Re is the world's largest reinsurer and Demex's original parent (spun out in 2020). Both offer reinsurance capacity for weather and natural catastrophe perils, and Munich Re's NatCat/Severe Convective Storm franchise directly overlaps with Demex's SCS Re product, though Munich Re operates a much broader global portfolio including life and health reinsurance.
Emerging players
- Nephila Capital: Nephila Capital is one of the largest insurance-linked securities (ILS) and weather risk investment managers. Several Demex team members (notably Matt Coleman) came from Nephila, and both manage weather-related risk transfer across reinsurance and capital markets, with Nephila more capital-markets focused and Demex more cedent-direct.
- Sensible Weather: Sensible Weather is a parametric insurance platform providing weather guarantees to travel and outdoor experience consumers. While targeting different end customers (consumers vs. insurers), it shares Demex's parametric weather risk modeling stack and climate-conditioned probability distribution approach.
Direct peers
- Arbol: Arbol is a parametric climate risk platform that structures weather index-based insurance and reinsurance contracts for enterprise and financial clients. Both companies offer parametric weather risk transfer, though Arbol focuses more on agricultural, energy, and supply-chain risks, while Demex specializes in P&C carrier secondary peril exposure.
Others
- Verisk (AIR Worldwide): Verisk's AIR Worldwide subsidiary provides catastrophe risk modeling software used across the reinsurance industry. Demex competes with AIR's catastrophe modeling approach through its client-calibrated methodology and could partner or compete with AIR for modeling-driven risk transfer decisions at cedents and brokers.
- Moody's RMS: Moody's RMS is the other dominant catastrophe modeling platform serving reinsurers and cedents. Like AIR, RMS competes indirectly with Demex by setting industry modeling standards for severe convective storm and secondary peril exposure, and by enabling traditional reinsurance pricing rather than parametric solutions.
- Fermat Capital Management: Fermat Capital is an ILS and reinsurance-linked investment manager with deep weather and catastrophe bond expertise. Fermat provides capacity in adjacent structures to Demex's parametric products and serves as a potential capital partner or competitor for institutional investors seeking secondary peril exposure.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Demex social profiles
Digital presenceDemex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Demex leadership team
Management profileNumber of profiles
Profiles10 records
Demex funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Demex M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Demex
What does Demex do?
Demex is a modeling and calculation agent that enables parametric modeled-loss reinsurance for insurance companies, addressing secondary weather perils such as severe convective storms and winter storms. The company combines climate science, machine learning, and financial modeling through a proprietary client-calibrated platform to deliver recurring reinsurance solutions that protect insurance carriers' earnings from frequent, non-catastrophic weather losses.
Is Demex a public or private company?
Demex is a private company. It is classified as venture growth investor backed and is currently operating.
When was Demex founded?
Demex was founded in 2020. It employs 11 to 50 people.
Where is Demex based?
Demex is headquartered in New York, United States, in the North America region.
How does Demex make money?
One revenue line is on record: reinsurance Premium Revenue.
Who are Demex's main competitors?
Broad incumbents on record are Beazley, RenaissanceRe, Swiss Re and Munich Re. Emerging players are Nephila Capital and Sensible Weather. Arbol is listed as a direct peer. Others are Verisk (AIR Worldwide), Moody's RMS and Fermat Capital Management.
Does Demex have an API?
No public API is recorded for Demex.
What industry is Demex in?
Demex's product category is Parametric Reinsurance. Its primary akta.pro industry code is FSAOACAG, Parametric Catastrophe Reinsurance, with a secondary code of FSAOACAH, Catastrophe Excess-of-Loss (XoL) Reinsurance. Its NAICS code is 52413 and its SIC code is 6331.