Stephen Bennett, The Demex Group
Steve is cofounder and Chief Climate Officer at The Demex Group, where he and his team built the first-of-its-kind platform for analyzing, pricing and transferring climate-linked risks at scale. Steve’s expertise in weather and climate developed over 25-years in the private and public sectors ranging from the Scripps Institution of Oceanography to The Weather Channel. His career arc focuses on bridging the gap between weather/climate volatility and financial and business operations.
In 2005, Steve led the development of the financial technology platform to manage natural catastrophe risk at CIG Re and Newcastle Re. Over the past ten years, Steve has also been a founder and executive in venture-backed start-ups. In 2010, Steve leveraged his deep expertise in weather and climate risk, technology-transfer, team building, and customer focused tech solutions to found Riskpulse as a spin-out from the Climate Research Division at the University of California, San Diego. Riskpulse developed a process and platform for managing weather-related risks in supply-chain and logistics for Fortune 500 companies such as Unilever, ABInBev and DHL. In late 2019, DHL acquired Riskpulse and Steve then cofounded The Demex Group. He also chairs the Financial Weather and Climate Risk Management Committee for the American Meteorological Society.
Steve holds a JD from University of Illinois Chicago’s School of Law and a BS in Meteorology from the University of South Alabama.
The world is changing; weather patterns are increasingly unstable and present unique risks for businesses. Extreme weather leads to dramatic fluctuations in costs and revenue. Yet existing risk management approaches were built for a different world and are ill-equipped to reliably provide climate-linked financial security. Demex is making it simple to build protection for operational weather risks. We’ve built a robust, end-to-end ecosystem, seamlessly integrating the weather data, cashflow modeling and risk transfer to insurance and captial markets. We build coverage that’s entirely localized and customized at the property-level. With the business impact of climate change only increasing, Demex is designed to support new sectors with a novel approach.