TAMPA, Fla. – April 3, 2024 –Juniper Re, LLC (“Juniper Re”), the dynamic reinsurance broking arm and indirect subsidiary of BRP Group, Inc. (NASDAQ: BRP), and Canopy Weather, LLC (“Canopy”), a leading provider of weather analytics solutions, are pleased to announce a strategic collaboration to bring post-event severe convective storm response analytics to Juniper Re clients.
Tornadoes, hail, and straight-line winds pose significant risks to properties. Canopy employs leading-edge technology and human expertise to rapidly provide ground-truth observations immediately following storm events. Canopy’s application-first approach and focus on data quality enables it to provide accurate post-storm data that provides a unique and more complete picture of ground-level storm impacts than other offerings. By integrating Canopy’s advanced weather analytic capabilities with Juniper Re’s expertise in (re)insurance solutions, the collaboration aims to provide Juniper Re’s clients with risk management insights and more informed storm-related loss estimates.
Given the uptick of severe storm losses, quickly assessing impacted exposure and potential losses post-event is vital. Through this collaboration, Canopy and Juniper Re intend to work closely with insurers, MGAs, and other providers of insurance products to deliver detailed hazard analytics for tornado, hail, and wind in near real-time. Pairing these advanced footprints with a carrier’s exposure, clients can quickly assess the number of risks and exposed limits impacted by an event. This will allow carriers to better estimate losses, allocate resources, and enhance the customer experience.
Juniper Re’s Head of Catastrophe Analytics, Adam Miron, said, “At Juniper Re, we understand the importance of accurate and actionable insights after a severe storm event, which is why it is essential that carriers regularly assess their event response providers. They might be surprised to find how significantly their capabilities and responsiveness can be enhanced with access to superior, more refined, and timely data. Our collaboration with Canopy enables Juniper Re to seamlessly provide our clients with tailored event response solutions using cutting-edge technology adapted to fit their specific needs.”
Jeff Irvan, President of Juniper Re, shared his excitement about the collaboration. “Many clients rely on their reinsurance broker to provide impacts in the aftermath of a storm. At Juniper Re, we pride ourselves in working with best-in-class, differentiated providers like Canopy to provide actionable insights.”
“This exciting collaboration with Juniper Re underscores our commitment to supporting carriers”, Don Giuliano, President of Canopy added. “We have a mutual interest in accurately assessing and mitigating the impacts of severe storms. By leveraging our weather analytics expertise and Juniper Re’s innovative reinsurance solutions, we can offer carriers data driven peace of mind and financial security in the face of extreme weather events.”
ABOUT CANOPY WEATHER, LLC:
Canopy Weather is a leading provider of weather analytics solutions for property insurance and other sectors. Leveraging advanced weather monitoring and forecasting technologies, Canopy Weather empowers users to make data-driven decisions and manage weather-related risks effectively. For more information, please visit www.canopyweather.com.
ABOUT JUNIPER RE, LLC
Launched in October 2023, Juniper Re is a specialist reinsurance broker, comprised of talented and trusted professionals with extensive experience and knowledge in the reinsurance broking and the broader (re)insurance industry. Our team has extensive expertise across broking, analytics, client service, risk and compliance, and operational disciplines. We use a dynamic, analytical, and collaborative, cross-disciplined approach to deliver insightful counsel and solutions to our clients. For more information, please visit www.juniperre.com.
ABOUT BRP GROUP, INC.
BRP Group, Inc. (NASDAQ: BRP) is an independent insurance distribution firm delivering tailored insurance and risk management insights and solutions that give our Clients the peace of mind to pursue their purpose, passion and dreams. We are innovating the industry by taking a holistic and tailored approach to risk management, insurance, and employee benefits, and support our Clients, Colleagues, Insurance Company Partners and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. BRP Group represents over two million clients across the United States and internationally. For more information, please visit www.baldwinriskpartners.com.
BRP GROUP, INC. NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain various “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which represent BRP Group’s expectations or beliefs concerning future events. Forward-looking statements are statements other than historical facts and may include statements that address future operating, financial or business performance or BRP Group’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may”, “might”, “will”, “should”, “expects”, “plans”, “anticipates”, “believes”, “estimates”, “predicts”, “projects”, “potential”, “outlook” or “continue”, or the negative of these terms or other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements.
Factors that could cause actual results or performance to differ from the expectations expressed or implied in such forward-looking statements include, but are not limited to, those described under the caption “Risk Factors” in BRP Group’s Annual Report on Form 10-K for the year ended December 31, 2023 and in BRP Group’s other filings with the SEC, which are available free of charge on the SEC’s website at: www.sec.gov, including those risks and other factors relevant to the business, financial condition and results of operations of BRP Group. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. All forward-looking statements and all subsequent written and oral forward-looking statements attributable to BRP Group or to persons acting on behalf of BRP Group are expressly qualified in their entirety by reference to these risks and uncertainties. You should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and BRP Group does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law.
JUNIPER RE PRESS
Amy Money, Head of Marketing
Juniper Re
214.533.3837 | amy.money@juniperre.com
BRP PRESS
Anna Rozenich, Senior Director, Enterprise Communications
Baldwin Risk Partners
630.561.5907 | anna.rozenich@baldwinriskpartners.com
BRP INVESTOR RELATIONS
Bonnie Bishop, Executive Director, Investor Relations
Baldwin Risk Partners
813.259.8032 | IR@baldwinriskpartners.com
