weather risk transfer

Arbol, a technology-led company focused on parametric risk transfer and weather insurance markets, has launched an intriguing new solution named Captive+Parametric, which is designed to help corporations better manage climate risk and climate change exposure, with the help of parametric risk transfer to captive structures.

Things are hotting up in the weather risk management and parametric risk transfer technology space and Arbol, a smart contract, parametric risk transfer and weather insurance marketplace technology provider is one of the companies leading the charge.

Parsyl Inc., a provider of data-driven, sensor-based systems that are used in parametric risk transfer and insurance, has made a pay-out under a temperature linked policy in less than 8 hours.

Global Parametrics has designed and structured a new parametric hurricane insurance product that is now being sold in the Caribbean country of Dominica and is backed by the capital from the firms Natural Disaster Fund (NDF).

Global Parametrics and specialist flood risk modeller Fathom have partnered to develop a global parametric flood index that can be used in triggers of risk transfer, insurance and reinsurance arrangements.

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.

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.

Global Parametrics, the parametric and index-based disaster risk transfer company, has partnered with risk modelling specialist JBA Risk Management to design a parametric flood insurance product for VisionFund to cover flood risks in Myanmar.

Global Parametrics has structured and backed with capital from its Natural Disaster Fund (NDF) two index triggered water risk transfer arrangements covering smallholder farmers in India and Tanzania, with reinsurance giant Hannover Re providing some of the risk capital to support the deals.

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.