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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 →

Global Parametrics structures DFID-backed South Atlantic windstorm derivative

Global Parametrics, the parametric and index-based disaster risk transfer company, has structured a windstorm derivative transaction for a business on remote South Atlantic island Tristan da Cunha, with the deal backed by capacity from the UK Government’s Department for International Development, through the Natural Disaster Fund (NDF). The windstorm derivative features read the full article →

Global Parametrics builds out team with weather scientist & software hires

Global Parametrics, the parametric and index-based disaster risk transfer company, has added two hires as it continues to build out its team to meet growing demands for index-based risk transfer and insurance products. Global Parametrics aims to consolidate on its position as a provider of climate and natural disaster risk protection read the full article →

Arbol transacts $11m notional through weather risk platform

Arbol, a provider of marketplace technology that utilises smart contracts, has now sold $11 million notional in weather risk transfer contracts through its platform in the first four months since it began trading live transactions. Arbol completed an acquisition of well-known specialist provider of weather risk transfer and weather hedging solutions read the full article →

ARC pays Madagascar $2.3m as parametric drought policy triggered

The African Risk Capacity (ARC), a parametric sovereign disaster risk insurer for African nations, has paid the government of Madagascar $2.3 million after its parametric drought insurance policy was triggered in the last growing season. Madagascar has benefited from ARC parametric insurance coverage thanks to its joining the Africa Disaster Risk read the full article →

Global Parametrics puts NDF capacity behind Arbol-powered weather risk pilot

Global Parametrics, the parametric and index-based disaster risk transfer company, is putting capacity from the Natural Disaster Fund (NDF) that it manages behind a new weather insurance pilot for coffee farmers in Costa Rica that is powered by Arbol's technology and smart contract driven marketplace for weather risk transfer. To launch read the full article →

Arbol acquires eWeatherRisk, aims to revolutionise weather risk transfer market

Arbol, a technology driven marketplace that uses blockchain and smart contracts, has acquired well-known specialist provider of weather risk transfer and weather hedging solutions eWeatherRisk, as it looks to revolutionise the way weather risk transfer contracts are bought and sold. eWeatherRisk is a long-time weather risk management and transfer market participant read the full article →

African Risk Capacity appoints former AXA exec as new CEO of insurer

A new CEO has been appointed to lead the insurance mutual and financial affiliate of the African Risk Capacity (ARC), the African Risk Capacity Insurance Company Ltd (ARC Ltd), with Lesley Ndlovu joining the firm from his most recent position with a division of AXA. The move comes as the tenure read the full article →

Wind power indices for risk transfer added to weatherXchange

Indices designed to facilitate the trading of weather risks related to wind power have now been added to weatherXchange, the parametric weather risk transfer platform operated by specialist Speedwell Weather. weatherXchange makes it easier for companies to access index-based weather risk protection, listing a range of weather risk transfer products that read the full article →

Zimbabwe to get ARC parametric drought & replica cover via WFP

The government of Zimbabwe has approved the purchase of a parametric drought insurance policy from the African Risk Capacity (ARC) and will also benefit from a replica cover purchased by the World Food Programme (WFP). In becoming a policyholder of an ARC parametric insurance cover, Zimbabwe will better insulate itself against read the full article →