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Pandemic parametric triggers Q&A with Tom Johansmeyer, PCS

Pandemic protection. Is it included, excluded, or even mentioned in a policy or program? Even if it is, is the coverage responsive enough to really help the protection buyer, or should parametric solutions be looked at? If so, how to ensure they are robust?At a time when interest in pandemic read the full article →

Aon & Brit back Icebreaker One’s open standard for climate data

Significant insurance and reinsurance industry players are backing a new non-profit start-up that aims to drive forwards the development of an open standard for sharing climate data, with the goal of enabling better design and development of climate risk related financial products along with the use of artificial intelligence.Icebreaker One read the full article →

Parametric risk transfer critical to address climate change: WTW’s Hess at Davos

To reach the required levels of adaptation and increase the world’s resilience to climate change, parametric insurance is critical in order to manage the long-term impacts and the transition, according to Carl Hess, Head of Investment, Risk and Reinsurance at broker Willis Towers Watson (WTW).Hess was speaking as part of read the full article →

QOMPLX & Chaucer launch multi-peril parametric insurance for SME’s

The use-cases for parametric triggers in insurance and reinsurance continue to expand, as parametric coverage gains in popularity and technology and data advances make more complex products possible, as evidenced by a recent launch from QOMPLX and Chaucer.QOMPLX is a provider of intelligent decision platforms and also operates a managing read the full article →

FEMA urged to use parametric triggers & ILS to drive insurance penetration

The U.S. Federal Emergency Management Agency (FEMA) is being urged to explore the use of parametric triggers as well as insurance-linked securities (ILS) to help drive increased insurance penetration for flood and other natural hazards and enable better financed disaster recovery.With a goal of increasing financial preparedness among both householders read the full article →

Significant opportunities for parametric growth, say Descartes execs

Recent developments in the re/insurance and ILS markets have resulted in a significant expansion of parametric solutions, and executives at Descartes Underwriting believe many opportunities for further growth are now available to companies offering these kinds of products.Tanguy Touffut, CEO & Founder at Descartes Underwriting, and Edern Le Roux, Head read the full article →

Parametric MGA Descartes Underwriting hires ILS specialist Le Roux

Descartes Underwriting, the start-up insurance technology (insurtech) managing general agency (MGA) that focuses on parametric and data-driven risk transfer products, has hired Edern Le Roux, an ILS specialist previously from SCOR Investment Partners.Descartes Underwriting launched recently with an ambition to utilise the insurance-linked securities (ILS) market as a source of read the full article →

Descartes Underwriting launched as parametric, data-driven MGA

Descartes Underwriting has been launched as a start-up insurance technology (insurtech) managing general agency (MGA) with a focus on parametric and data-driven risk transfer products and an ambition to utilise the ILS market as a source of capacity.Launching Descartes Underwriting is Chief Executive Officer (CEO) Tanguy Touffut, who was previously read the full article →

Swiss Re backs mobile parametric insurance for China typhoon risk

Global reinsurance giant Swiss Re has partnered with China’s Ping An Property & Casualty Insurance Company of China, Ltd to develop and deliver mobile-enabled parametric insurance protection against typhoons.The new parametric solution is China’s first mobile-enabled coverage for property losses as a result of typhoons, and covers eight coastal provinces read the full article →

Swiss Re in Taiwan parametric aquaculture insurance first

Global reinsurance firm Swiss Re, with the assistance of local specialist insurer Taiwan Fire & Marine Insurance, has developed the first parametric aquaculture insurance solution covering fish farmers in Taiwan against extreme rainfall.The parametric insurance product will cover 120,000 hectares of grouper onshore fish ponds in Ping Tung County, Taiwan read the full article →