Unique collaboration brings together the market
leader in global population alerting with innovative parametric
insurance solutions to enable governments, NGOs and charities to
manage the entire lifecycle of a catastrophic event, moving capital
from the relief phase into emergency response
Everbridge, Inc. (NASDAQ: EVBG), the global leader in Critical
Event Management (CEM) and national Public Warning solutions, and
Howden, the international insurance broking group, today announced
a first-of-its-kind collaboration combining public safety
technology with parametric insurance to provide a holistic approach
for governments, nongovernmental organizations (NGOs) and charities
to address climate risk and resilience.
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the full release here:
https://www.businesswire.com/news/home/20211123005645/en/
Everbridge Enters Into First-of-its-Kind
Collaboration with Howden to Combine Public Safety Technology with
Parametric Insurance to Address Climate Risk and Resilience
(Graphic: Business Wire)
By bringing together Everbridge technology with Howden’s
insurance expertise, response and recovery organizations are
equipped to manage the entire lifecycle of a catastrophic event.
Everbridge technology supports the preparation for and response to
an event, while parametric insurance policies deploy much needed
capital to the emergency response effort in the event of a major
catastrophe. This creates a mechanism to move capital from where it
is traditionally deployed, in the relief phase, into the emergency
response phase of the critical event, helping to save more lives
and reduce property damage before it happens.
“When a major natural disaster occurs, emergency response teams
need access to funds quickly and reliably,” said Charlie Langdale,
Head of Climate Risk and Resilience at Howden. “Having pre-arranged
finance in place enables those delivering the disaster response to
get aid to those who need it, when they need it. Because payment is
based on pre-determined triggers, validated by third-party data,
parametric policies can pay out almost immediately upon the agreed
parameters being hit. Whilst Everbridge’s public warning systems
mobilize the people needed to respond to disasters, parametric
insurance can mobilize the capital to fund the response. This
brings together two critical components of resilience to help those
responsible for preventing loss of lives and livelihoods by
facilitating a faster, more structured response.”
Parametric insurance pays when a pre-defined event occurs and
breaches a pre-agreed figure or index. Examples of perils covered
and typical triggers include hurricane (windspeed), flood (height),
earthquake (shake intensity), pandemic (number of infections) or
cyber (reported data breach).
Everbridge’s CEM technology will be leveraged to power a
workflow, including data collection, communications and
coordination of the emergency response. This will enable
governments, nongovernmental organizations (NGOs) and charities to
deploy insurance capital or assets purchased quickly and
effectively to support the emergency response, maximizing the
impact of the funding dedicated to relief efforts.
Earlier this year, Howden helped to launch the world’s first
catastrophe (CAT) bond for volcano-related disasters on behalf of
the Danish Red Cross. Ten volcanoes covered by the CAT bond were
selected based on the significant humanitarian threat they
represent, with at least 700,000 individuals living within 60 miles
(100km) radius of a potential eruption. The bond makes use of
sophisticated modelling and blockchain technology to raise
humanitarian funds in advance, allowing aid to be released quickly
and effectively.
“While Everbridge technology helps our customers prepare for and
manage critical events, a major catastrophe requires capital to
fuel the emergency response,” said Dominic Jones, Senior Vice
President of Partnerships & Alliances at Everbridge. “We
partner with Howden as they continue to push the industry to look
at new innovative ways for customers to address an increasing
threat landscape from extreme climate-related disruptions.
Together, Everbridge and Howden are providing differentiated
solutions for mitigating climate risk and maximizing resilience by
using technology and insurance-based capital solutions to help
shorten the period of time between a major event occurring and
people receiving the funds.”
Everbridge and Howden were in Glasgow together for COP26, as
official partners of the World Climate Summit – the Investment COP
(7th – 8th November 2021). At the Summit, Howden Group CEO, David
Howden, called for collaboration between private capital and the
humanitarian community to create a sustainable new market for
funding disaster relief. Everbridge Chief Experience Officer, Dr.
John Maeda showcased global examples of the critical advantages of
software technology for minimizing loss and damage as organizations
adapt to extreme climate events. For more information, refer to
Unlocking Climate Change Resilience, Everbridge Newsletter
Featuring Gartner®.
GARTNER is a registered trademark and service mark of Gartner,
Inc. and/or its affiliates in the U.S. and internationally and is
used herein with permission. All rights reserved.
About Howden Broking
Howden Broking, a leading provider of (re)insurance brokerage,
risk consulting and employee benefits advice, is headquartered in
the UK and comprises owned businesses across Europe, Asia, Africa,
Latin America and the Middle East.
Established in 1994, today Howden employs more than 6,500 people
worldwide. Together with network partners aligned to its
specialty-led proposition, Howden operates in more than 90
territories.
For more information, please visit
https://www.howdengroup.com/
About Everbridge
Everbridge, Inc. (NASDAQ: EVBG) is a global software company
that provides enterprise software applications that automate and
accelerate organizations’ operational response to critical events
in order to Keep People Safe and Organizations Running™. During
public safety threats such as active shooter situations, terrorist
attacks or severe weather conditions, as well as critical business
events including IT outages, cyber-attacks or other incidents such
as product recalls or supply-chain interruptions, over 6,000 global
customers rely on the Company’s Critical Event Management Platform
to quickly and reliably aggregate and assess threat data, locate
people at risk and responders able to assist, automate the
execution of pre-defined communications processes through the
secure delivery to over 100 different communication modalities, and
track progress on executing response plans. Everbridge serves 8 of
the 10 largest U.S. cities, 9 of the 10 largest U.S.-based
investment banks, 47 of the 50 busiest North American airports, 9
of the 10 largest global consulting firms, 8 of the 10 largest
global automakers, 9 of the 10 largest U.S.-based health care
providers, and 7 of the 10 largest technology companies in the
world. Everbridge is based in Boston with additional offices in 25
cities around the globe. For more information visit
www.everbridge.com
Cautionary Language Concerning Forward-Looking
Statements
This press release contains “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995, including but not limited
to, statements regarding the anticipated opportunity and trends for
growth in our critical communications and enterprise safety
applications and our overall business, our market opportunity, our
expectations regarding sales of our products, our goal to maintain
market leadership and extend the markets in which we compete for
customers, and anticipated impact on financial results. These
forward-looking statements are made as of the date of this press
release and were based on current expectations, estimates,
forecasts and projections as well as the beliefs and assumptions of
management. Words such as “expect,” “anticipate,” “should,”
“believe,” “target,” “project,” “goals,” “estimate,” “potential,”
“predict,” “may,” “will,” “could,” “intend,” variations of these
terms or the negative of these terms and similar expressions are
intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control. Our actual results could differ materially
from those stated or implied in forward-looking statements due to a
number of factors, including but not limited to: the ability of our
products and services to perform as intended and meet our
customers’ expectations; our ability to successfully integrate
businesses and assets that we may acquire; our ability to attract
new customers and retain and increase sales to existing customers;
our ability to increase sales of our Mass Notification application
and/or ability to increase sales of our other applications;
developments in the market for targeted and contextually relevant
critical communications or the associated regulatory environment;
our estimates of market opportunity and forecasts of market growth
may prove to be inaccurate; we have not been profitable on a
consistent basis historically and may not achieve or maintain
profitability in the future; the lengthy and unpredictable sales
cycles for new customers; nature of our business exposes us to
inherent liability risks; our ability to attract, integrate and
retain qualified personnel; our ability to maintain successful
relationships with our channel partners and technology partners;
our ability to manage our growth effectively; our ability to
respond to competitive pressures; potential liability related to
privacy and security of personally identifiable information; our
ability to protect our intellectual property rights, and the other
risks detailed in our risk factors discussed in filings with the
U.S. Securities and Exchange Commission (“SEC”), including but not
limited to our Annual Report on Form 10-K for the year ended
December 31, 2020 filed with the SEC on February 26, 2021. The
forward-looking statements included in this press release represent
our views as of the date of this press release. We undertake no
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to the
date of this press release.
All Everbridge products are trademarks of Everbridge, Inc. in
the USA and other countries. All other product or company names
mentioned are the property of their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20211123005645/en/
Jeff Young Everbridge Media Relations jeff.young@everbridge.com
+1 781-859-4116
Hayley Langston Howden Group Corporate Communications
hayley.langston@howdengrp.com +44 (0)7523 908651
pressenquiries@howdengrp.com
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