WeatherBill Offers White Label Platform to Weather Insurance & Weather Derivative Providers

SAN FRANCISCO, March 31 /PRNewswire/ --

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.

WeatherBill, Inc.