Weather markets veteran Marty Malinow has long been frustrated, and baffled, as to why the weather market isn’t 10 or 20 times bigger. His conclusion, reached during his previous position at Japanese insurer Sompo, was that the market needed better advisory, intermediation and analytics.

“Energy, which accounts for most weather-protection buyers, has seen primarily direct execution since the market began in the late 1990s,” he says. Given the highly structured nature of most weather hedges, the