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Parametric specialist Descartes promotes Schönach to lead global origination

Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has promoted one of its senior employees Lukas Schönach to become its Global Origination Practice Lead. Descartes Underwriting has been on a steady growth trajectory since its launch in early 2019 read the full article →

New Paradigm co-founder Evan Glassman departs parametric specialist MGA

New Paradigm Group, LLC, the Florida-headquartered specialist managing general agency focused on parametric insurance, reinsurance and risk transfer products, has announced the departure of its co-founder. Evan Glassman co-founded the business alongside Chairman Bradley Meier almost a decade ago, with a vision to modernise parametric insurance and reinsurance, using innovative triggers read the full article →

Arbol supports Singlife with Aviva’s parametric rainfall travel cover

Arbol, a technology-led underwriter of parametric risk transfer, climate and weather insurance business, has partnered with Singapore based insurer Singlife with Aviva to provide it a parametric rainfall insurance product for travellers. Singlife said this morning that it is the first insurer in Singapore to offer a parametric insurance product designed read the full article →

AXA Climate selects RMS HWind for wind parametric triggers

AXA Climate, the parametric specialist risk transfer managing general agent (MGA) unit of global insurance and reinsurance company AXA, has selected the HWind product from risk modeller RMS to use as a trigger data provider for parametric insurance policies. RMS launched a suite of hurricane forecasting products for the North Atlantic read the full article →

Arbol reports impressive growth as GWP transacted in H1 2022 exceeds $100m

Technology-led underwriter of parametric risk transfer, climate and weather insurance business, Arbol, has today reported that it transacted more than $100 million in gross written premium (GWP) in the first half of 2022. Impressively, this figure is more than 70% higher than the $70 million in GWP the firm transacted in read the full article →

Descartes targets parametric coverage expansion with new German office

Descartes Underwriting, an insurance technology (insurtech) focused managing general agency (MGA) that specialises in parametric and data-driven risk transfer products, has launched a new office in Germany as it looks to expand its parametric coverage across the DACH region. The new Frankfurt office will look to drive collaboration with DACH-based brokers read the full article →

Arbol launches climate parametric insurance captive in Connecticut

Building on last year's launch of a solution to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive insurance structures, Arbol has now launched a new climate risk focused parametric insurance captive in Connecticut. Climate Risk Insurance Company is touted as read the full article →

Raincoat raises $4.5m for parametric climate disaster insurance build-out

Raincoat, an insurtech that develops scalable embedded climate insurance products with parametric triggers, has raised a $4.5 million seed round to help it build-out its mission to provide climate disaster insurance for a new era. Raincoat is developing end-to-end automated insurance solutions that can enable financial institutions, governments, and insurers to read the full article →

CCRIF parametric risk pool grows 10% to US $1.2bn at renewal

The CCRIF SPC (formerly known as the Caribbean Catastrophic Risk Insurance Facility) has expanded its risk pool by 10% year-on-year, as its member governments renewed $1.2 billion of parametric insurance coverage against catastrophe, climate and seismic perils. Parametric insurance cover has been renewed by Caribbean and Central American governments for tropical read the full article →

Rhine river level falls in heatwave, bringing parametric triggers into focus

Water levels in Germany's river Rhine have dropped to levels that are now concerning shipping and transport companies, as well as those looking to trade and receive goods using the waterway, with levels forecast to decline close to where we understand parametric triggers for insurance have been set. As of this read the full article →