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Parametrics to grow in areas where indemnity models struggle: panellists

While parametric insurance will never replace indemnity structures, they are expected to be leveraged more widely in areas where indemnity models struggle to provide adequate solutions, according to Richard Chattock, Chief Executive Officer (CEO) at London-headquartered, Insurtech Gateway. On the final day of the virtually held ILS Bermuda Convergence 2020 conference, read the full article →

CelsiusPro doubles-down on big-data for parametrics & weather risk transfer

CelsiusPro AG, the Swiss headquartered weather index insurance and parametric risk transfer specialist, is doubling down on the use of big-data and advanced technology to create better parametric triggers and indices for weather and natural catastrophe risk transfer. CelsiusPro is already a technology-focused company, calling itself an insurtech as it has read the full article →

InsuResilience Solutions Fund backs crop & livestock parametric insurance

The InsuResilience Solutions Fund, which is part of the InsuResilience Global Partnership, will fund and support the development of an index-based crop and livestock insurance solution for smallholder farmers in South Africa. It's the first funding announced by the InsuResilience Solutions Fund (ISF), which was established and is funded by KfW, read the full article →

Parametric livestock insurance pays out to Ethiopian farmers

An index-based livestock insurance program has paid out to almost 3,000 smallholder farmers in Ethiopia, after its parameters were breached by satellite data inputs, triggering payouts of the drought protection the scheme provides. The Index-Based Livestock Insurance (IBLI) was an early index or parametric microinsurance solution targeted at pastoralists in African read the full article →

CelsiusPro hires Mueller from Swiss Re as parametric risk consulting lead

CelsiusPro AG, a Switzerland headquartered weather index insurance and parametric risk transfer specialist, has announced the hiring of Lea Mueller to lead its consultancy and advisory offering. CelsiusPro, which considers itself an insurtech, offers parametric risk transfer and insurance solutions and advisory services, focused on severe or extreme weather protection, weather read the full article →

Orbital Micro Systems targets enhanced weather insights for re/insurance & ILS

More granular and higher resolution satellite data from earth observations are set to improve weather and catastrophe event insights for the insurance, reinsurance and insurance-linked securities (ILS) industry, according to the CEO of Orbital Micro Systems. Orbital Micro Systems is a specialist in technology and data for space applications, with expertise read the full article →

Parametrics to grow in 2018 as re/insurers look to resilience: Clyde & Co

International law firm, Clyde & Co., expects global insurers and reinsurers to focus on the potential opportunities and challenges represented by the protection gap as resilience takes centre stage in 2018, highlighting the benefits and expansion of parametric solutions. Clyde & Co. has released a number of insurance industry prediction pieces read the full article →

CelsiusPro & Aon Benfield renew partnership on weather risk transfer

Swiss headquartered weather index insurance and parametric risk transfer specialist CelsiusPro AG and reinsurance broker Aon Benfield have renewed their existing partnership that sees the pair working together to deliver weather risk transfer solutions to Aon clients. CelsiusPro and Aon Benfield have been working together on parametric weather risk transfer since read the full article →

Commitments, funding to narrow protection gap announced at IDF event

At an event held in London today focused on the progress made by the Insurance Development Forum (IDF), as part of the International Insurance Society (IIS) conference, a number of commitments and news of funding were made, with the goal of furthering steps to narrowing the disaster protection gap. Insurance and read the full article →

London Centre for Global Disaster Protection announced at G20 by PM May

UK Prime Minister Theresa May has announced a new London Centre for Global Disaster Protection, that will be established to harness expertise in the insurance and reinsurance market with the goal of helping to increase the use of rapid paying risk transfer protection and insurance against perils such as drought read the full article →