ClimateSnap

About ClimateSnap

ClimateSnap is a financial technology platform focused on managing the financial impacts of extreme weather through parametric contracts. It was co-founded by David M. Gould, who also serves as the CEO. With over three decades of experience at the intersection of economics and financial markets, Gould identified a structural problem where climate risk was growing faster than the financial tools available to manage it, particularly for smaller entities. ClimateSnap was established to address this gap by using transparent data and parametric structures to make climate risk understandable, manageable, and investable.

The company's core offering is a platform that allows users to create data-driven parametric contracts that trigger automatic payouts when predefined weather conditions are met. This model bypasses the often slow and complex processes of traditional insurance claims. The process involves a user selecting a location, a specific weather event (like heavy rainfall, drought, or temperature extremes), and a coverage period. If independent, trusted weather data from ground and satellite sources confirms the event occurred as specified in the contract, a payout is processed automatically and quickly.

ClimateSnap serves two main groups: buyers seeking financial protection and investors. Buyers can include small businesses, households, farmers, and communities exposed to weather volatility who previously had limited access to fair and timely coverage. For investors, the platform offers an alternative asset class by allowing them to provide the capital that backs the weather contracts. These investments are uncorrelated with traditional financial markets like stocks and bonds, offering a source of portfolio diversification. The platform automatically allocates investor capital across various weather contracts, managing risk and execution to generate passive returns.