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Data & analytics to broaden use of parametric solutions: James Harrison, Dun & Bradstreet

As insurers and reinsurers continue to advance their data analytics capabilities, parametric structures will increasingly be leveraged for more traditional classes of business, according to James Harrison, UKI Head of Insurance at global data and analytics firm, Dun & Bradstreet (D&B). Parametric insurance, which is event-driven coverage rather than indemnifying the read the full article →

Live webcast: Hedging the next pandemic with parametric capital market solutions

Vesttoo and Artemis have partnered to host a live webcast on May 25th 2021 where we will discuss and explain opportunities to hedge the next pandemic, using parametric risk transfer, facilitated through the use of data and technology, as well as capacity from the capital markets. Register online here to secure read the full article →

Arbol hires Guo from GC Securities as Chief Insurance Officer

Arbol, the provider of marketplace technology supporting parametric risk transfer and weather insurance, utilising smart contracts, has made a key hire, bringing onboard Hong Guo from GC Securities as its Chief Insurance Officer. Hong Guo joins Arbol as Executive Vice President and Chief Insurance Officer and will lead all insurance related read the full article →

Arbol taps machinery sensors for parametric crop insurance triggers

Arbol, the provider of marketplace technology supporting parametric risk transfer or weather insurance and that utilises smart contracts, has provided the backing for a new crop yield cover whose parametric triggers are based on the throughput measured by machinery sensors. The use of sensor technology in creating new parametric risk transfer, read the full article →

FloodFlash pays parametric insurance claim in under ten hours

Flood risk insurtech company FloodFlash, which offers an innovative sensor-based approach to support parametric flood insurance triggers, has beaten its own record on rapid claims payment, paying out to one policyholder within ten hours for the impacts of flooding during UK storm Christoph. FloodFlash highlighted its new catastrophe claims payout record read the full article →

Indonesia cat bond possible, as World Bank lends for disaster insurance

The World Bank has approved $500 million of funding for Indonesia to help the country enhance its financial response to natural disasters, climate risks, and health-related shocks, with the use of risk pooling, and insurance or reinsurance instruments at the heart of the plan. Between 2014 and 2018, the central government read the full article →

Basis risk an issue, but parametric drought risk transfer to expand: Survey

Quality and availability of data is seen as vitally important by insurance and reinsurance market players interested in covering drought related risks, as they seek to reduce basis risk in offerings, a survey from VanderSat has found. Dutch satellite technology firm VanderSat teamed up with AgroInsurance, an agricultural insurance industry knowledge hub, read the full article →

Arbol raises $7m Series A for parametric weather risk platform

Arbol, Inc., the marketplace technology provider that supports parametric risk transfer or weather insurance and utilises smart contracts, has raised a $7 million Series A funding round to help grow its business. Arbol said that the Series A was oversubscribed and completed at much higher valuation from its initial seed funding read the full article →

New pools of capital will look to evolving parametric market: AmWINS Kaplan

The parametric insurance and risk transfer market is evolving rapidly and its ability to provide what are perceived as cleaner contract terms, as well as greater certainty, looks set to be increasingly attractive to alternative sources of reinsurance capital. The parametric insurance marketplace is more than twenty year's old. In fact read the full article →

Swiss Re backs Cover Genius parametric quake cover for California businesses

Global reinsurance company Swiss Re is providing the underwriting capacity for a new parametric earthquake insurance product for businesses in California, partnering with insurtech Cover Genius, underwriting firm Palomar and tech giant Intuit on the launch. Shake Shield, as the parametric quick paying insurance product is being called, is the first read the full article →