This investment is a natural extension to The Andersons’ current suite of risk management products - Joe Needham, The Andersons, Inc.
Overland Park, Kansas (PRWEB) August 12, 2013
eWeatherRisk Inc. and The Andersons, Inc. announce that The Andersons has acquired a significant interest in eWeatherRisk. This investment enables eWeatherRisk and The Andersons to expand the weather risk management market with a greater volume of weather risk transfer solutions to North American-based companies. In addition, The Andersons will provide support for eWeatherRisk’s business expansion with both the online platform and private party weather risk in agricultural and other weather sensitive markets.
Brian O’Hearne, CEO of eWeatherRisk, said: “eWeatherRisk provides the next generation platform for weather risk management. Existing weather risk products do not offer the peril customization, geographic flexibility, limited basis risk, ease of use, automation and daily forecast adjusted prices that are available through eWeatherRisk. These features allow customers to explore the historical performance of a variety of potential risk management strategies, increasing the possibility that one or more will be appropriate. Clients make their purchases through eWeatherRisk’s distribution network and platform. We are excited to bring The Andersons vast experience in agriculture, transportation and risk management to this new relationship,” O’Hearne concluded.
Joe Needham, director of corporate business development and public policy for The Andersons, Inc. says, “With the increased value of agriculture, managing weather exposure is increasingly important across all aspects of agriculture, from producers to processors. This investment is a natural extension to The Andersons’ current suite of risk management products that we offer to our customers. It also provides us with early entry into an emerging technology that we believe can help the agriculture industry mitigate the impact of increasingly unpredictable weather patterns. We can provide a more robust offering to the same markets we serve today including production agriculture, food companies, processing plants, farm centers and other agribusinesses.”
eWeatherRisk specializes in the sale of weather risk management instruments for U.S. companies. The company opens opportunities for enterprises to hedge themselves against financial losses due to adverse weather; using custom indices clients design. eWeatherRisk weather risk instruments are based on data provided by an advanced proprietary weather data platform utilizing over 3,700 weather stations across the United States. eWeatherRisk's offering includes full online pricing and settlement solution as well as online contract tracking and reporting for clients.
The Andersons, Inc.
The Andersons, Inc. is a diversified company rooted in agriculture. Founded in Maumee, Ohio, in 1947, the company conducts business across North America in the grain, ethanol, and plant nutrient sectors, railcar leasing, turf and cob products, and consumer retailing. For more information, visit The Andersons online at http://www.andersonsinc.com/.