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Stephen Bennett

Co-Founder at The Demex Group

Professional Background

Stephen Bennett is a remarkable meteorologist and entrepreneur who expertly combines climate science with business acumen to transform industries. With a career spanning over 25 years in both the private and public sectors, Stephen has made significant strides in the fields of meteorology, climate change, and risk management. His journey began in media and commodity trading, where he honed his skills as a meteorologist with prestigious organizations, including The Weather Channel and Enron. This diverse background laid the foundation for his future endeavors in climate-driven business innovations.

In 2010, Stephen co-founded EarthRisk Technologies, a groundbreaking company that commercialized cutting-edge research from the Climate Research Division of UC San Diego's Scripps Institution of Oceanography. EarthRisk developed the patented product "TempRisk," which empowers traders in gas and power markets to quantify weather risks up to five weeks in advance. This innovative solution exemplifies how Stephen has successfully applied his meteorological knowledge to create substantial value in the business environment.

In 2015, Stephen's visionary approach led to a partnership with Stormpulse, an innovative platform for advanced storm-tracking and hyper-local weather applications. This collaboration resulted in the formation of Riskpulse, which pivoted from weather and climate solutions to supply chain intelligence. Under Stephen's leadership, Riskpulse served Fortune 500 enterprise accounts and achieved an impressive 30x growth in annual recurring revenue from single customers within just 18 months. In 2019, Riskpulse was acquired by DHL and Columbia Capital, showcasing Stephen's excellence in driving innovation and value for clients.

Building on his success at Riskpulse, Stephen collaborated with former colleagues from Citadel to establish The Demex Group. This forward-thinking platform specializes in analyzing, pricing, and transferring climate-linked risks at scale. Stephen's team empowers various insurance carriers to integrate climate resiliency solutions into existing products, benefiting both homeowners and business interests. Through advanced API integration, The Demex Group delivers real-time pricing at the address level, equipping clients with personalized financial models that quantify their unique exposures to extreme weather events.

Education and Achievements

Stephen's educational background reflects his commitment to lifelong learning and professional development. He holds a Bachelor of Science degree in Meteorology from the University of South Alabama and pursued a Juris Doctor degree, graduating Magna Cum Laude from the University of Illinois Chicago School of Law. This legal expertise complements his scientific knowledge, allowing him to navigate the complexities of risk management and climate-related legislation effectively.

Additionally, Stephen has participated in several leadership programs, including Leadership Excellence and Executive Leadership at the Verisk Leadership Institute and a Certificate in Entrepreneurship from the University of California, San Diego's Rady School of Management. He also attended the University of Virginia Darden School of Business to gain insights into data science principles for managers, ensuring he stays at the forefront of trends impacting business decision-making.

His professional journey encompasses various leadership roles in esteemed organizations. As a former Senior Vice President at Verisk and Chief Climate Officer at The Demex Group, Stephen stands out as a thought leader in climate risk assessment and mitigation. He has also contributed his expertise as a Board Member for The Weather-Climate Enterprise at the University at Albany, SUNY, and as an instructor at the prestigious Scripps Institution of Oceanography.

Stephen's entrepreneurial spirit is evident in his founding of Cirrus Properties LLC and serving as the Chief Operating Officer for Riskpulse. His roles in advisory capacities at EarthRisk Technologies and Scripps Institution of Oceanography have allowed him to influence innovation and strategic direction within these organizations significantly.

Achievements

Stephen Bennett's achievements are noteworthy and abundant. His impressive track record of founding and leading innovative companies highlights his ability to identify market gaps and create relevant solutions that bridge the gap between meteorological science and practical applications.

Key achievements include:

  • Co-founding EarthRisk Technologies: Developed innovative products like "TempRisk" enabling traders to manage weather risk proficiently, transforming risk assessment in gas and power markets.
  • Leading Riskpulse to rapid growth: Achieved over 30x growth in ARR for single customers within 18 months, illustrating a keen ability to drive financial success while enhancing clients' supply chain intelligence.
  • **Establishing The

Highlights

Sep 1 · linkedin

On this Labor Day Weekend, I'm particularly grateful for Dan Harris and his work at Ten Percent.

Dan couples his personal experience with practical advice on meditation and mindfulness. He has largely demystified meditation for me and addressed common misconceptions that have made a real impact on my life over the past 15 years.

Thank you, Dan!!

Dan recently spoke with Brother Pháp Hữu. Dan says Brother Pháp is, "a very cool young monk who reframed the idea of laziness"

In a culture where busyness is a badge of honor, it's not about avoiding what has to be done. Instead, it's about allowing yourself time to unwind without any specific tasks or agenda in mind. Tue rest can refresh you and boost your productivity, help you avoid burnout, and give your mind more space to think creatively.

Check out the conversation here ... it certainly resonates for me!

Aug 11 · linkedin

Interesting and exciting: "The University of North Carolina at Chapel Hill (UNC) has given the green light for a new Institute for Risk Management and Insurance Innovation (IRMII), which has already secured millions of dollars in annual industry support and aims to nurture talent and bring novel solutions to the sector."

Related Questions

How did Stephen Bennett leverage his meteorological expertise to found EarthRisk Technologies?
What innovative strategies did Stephen implement at Riskpulse to achieve significant revenue growth?
In what ways has Stephen's education in law influenced his approach to risk management and climate-related business practices?
How does Stephen Bennett's leadership style contribute to the success of his teams and organizations?
What are the key features of The Demex Group's platform for analyzing climate-linked risks?
Stephen Bennett
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Location

Raleigh-Durham-Chapel Hill Area