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SAP Startup Focus Member Meteo Protect Honored for Risk Management App Built on SAP HANA

April 4, 2017 by SAP News

WALLDORFSAP SE (NYSE: SAP) today announced that Meteo Protect has been recognized by Celent as a Model Insurer for its work in the Data Mastery and Analytics Category.

Celent is a global research and advisory firm for the financial services industry. Meteo Protect was recognized for its weather risk management application, Vivaldi, built on the SAP HANA platform.

“We are delighted to see Meteo Protect recognized as a Celent Model Insurer and grateful for the support of the SAP Startup Focus program in our continued success,” said Gabriel Gross, President and CEO, Meteo Protect. “Clients are more and more demanding; they want more refined structures, as bespoke as possible, and the complexity of what we do is increasing. We have found that with SAP HANA, whenever we need to initiate a new product or service, the commissioning is extremely fast and reliable.”

Meteo Protect created Vivaldi, an app that allows insurers to select their policy specifications, including geolocation, coverage period, and weather parameters, and then uses SAP HANA to aggregate weather-related data, analyze risks, and price and underwrite the policy — all in real time.

Meteo Protect is an insurance and reinsurance underwriter and broker that has the largest team in Europe dedicated to weather risk management. Meteo Protect provides businesses and institutions anywhere in the world index-based financial covers to protect them when the weather impacts their results.

Celent’s annual Model Insurer Awards recognize the best practices of technology usage in different areas critical to success in banking/insurance. Nominations are submitted by financial institutions and technology vendors, and undergo a rigorous evaluation process by Celent analysts. Initiatives must be live to be considered. Celent judges submissions on three core criteria: demonstrable business benefits, the degree of innovation relative to the industry, and the quality of the technology or implementation excellence.

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Media Contact:

Dana Dye, +1 (415) 928-1310, dana.dye@sap.com, PT

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