Latest Parametric Headlines
All the headlines from our Parametric Topic Page, ordered by recency.
Parametric Insurance Helps Farmers and Others Hit Hard by Extreme Weather
Jul 15 2024 // Joemar Flores, a spindly 28-year-old, gestured across his family’s farmland, nestled between a steep hill and a river, and expressed gratitude for the rice paddies in the distance. They’re still there,...
Thanks to AI, Industry Could Soon See Big Rise in Parametric Insurance. Are Agents Ready?
Jul 1 2024 // Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that...
Markets/Coverages: FloodFlash Offers Parametric Flood Product Across US
Jun 24 2024 // FloodFlash announced its expansion to cover all mainland US locations. The sensor-enabled parametric flood insurer provides flood coverage in excess of the National Flood Insurance Program (NFIP) where the private markets...
Thanks to AI, Industry Will Soon See Big Jump in Parametric Insurance, Consultant Says
Jun 18 2024 // Insurance agents must now embrace the use of artificial intelligence, but they won’t be replaced by it. And the use of parametric policies will soon increase sharply across property insurance lines because that...
NormanMax Launches 1st Nat Cat Parametric Lloyd’s Syndicate, Managed by Apollo
May 22 2024 // NormanMax Insurance Holdings, the Miami, Florida-based parametric re/insurance group, has launched Lloyd’s Syndicate 3939, in partnership with third-party managing agent Apollo. NormanMax Syndicate 3939 is the first...
Markets/Coverages: FloodFlash Launches New Parametric Auto Dealer Program
May 10 2024 // FloodFlash has added a dealer program in its efforts to support more U.S. businesses ahead of a hurricane season that is widely anticipated to be amongst the worst in recent memory. Stored on large, flat areas of often...
Markets/Coverages: Liberty Mutual Re, Safehub Offer Parametric Quake Re/Insurance
Apr 23 2024 // Liberty Mutual Reinsurance (LM Re), part of Liberty Mutual Insurance Group, has announced a partnership with Safehub, a technology provider in seismic sensor and risk management solutions to offer a market-first,...
Markets/Coverages: Parametric Insurer FloodFlash Adds Business Interruption
Apr 15 2024 // Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial Director Rich Coyle...
WTW Upgrades Hawaiian Coral Reef Parametric Insurance Policy
Mar 4 2024 // WTW and The Nature Conservancy (TNC) announced the purchase of a new coral reef insurance policy that expands coverage around the main Hawaiian Islands and increases payouts after qualifying storms. This replaces the first...
People Moves: AXIS Promotes Ashby to Chief Commercial Officer; Miller Launches Parametric Team Headed by Glenister From Mastercard
Mar 1 2024 // This edition of International People Moves details appointments at the re/insurer AXIS Capital Holdings and insurance broker Miller. A summary of these new hires follows here. AXIS Promotes Ashby to Chief Commercial...
WTW Upgrades Hawaiian Coral Reef Parametric Insurance Policy
Feb 16 2024 // WTW and The Nature Conservancy (TNC) announced the purchase of a new coral reef insurance policy that expands coverage around the main Hawaiian Islands and increases payouts after qualifying storms. This replaces the first...
Markets/Coverages: Descartes Launches 1st Parametric Cyber Shutdown Cover in France
Feb 2 2024 // Descartes Insurance, the risk-carrying insurer formed in 2022 by climate-risk managing general agent Descartes Underwriting, has launched the first parametric cyber insurance for corporate clients in France. Described as...
Parametric Re/Insurer NormanMax Gets ‘in Principle’ Nod to Launch Lloyd’s Syndicate
Dec 21 2023 // NormanMax Insurance Holdings, the Miami, Florida-based parametric re/insurance group, has received “in principle” approval from Lloyd’s to launch a syndicate, which will be managed by Apollo Syndicate...
Markets/Coverages: Howden Launches Climate Parametrics Practice to Help Clients Derisk Net-Zero Climate Transition
Oct 17 2023 // Howden, the London-based insurance group, announced the creation of Howden Climate Parametrics, a global practice that brings together re/insurance, climate, and data expertise to focus parametric risk transfer solutions...
CelsiusPro Buys UK’s Global Parametrics to Strengthen Climate, Nat Cat Risk Solutions
Sep 7 2023 // CelsiusPro AG, the Zurich-based parametric insurance managing general agent, announced the acquisition of Global Parametrics Holding Co. Ltd. CelsiusPro said the deal will strengthen its global capabilities to offer...
Intangic MGA Launches Cyber Parametric Policy With Backing From AXA XL
Mar 16 2023 // Intangic MGA, a London-based cyber managing general agent (MGA), has been launched with capacity backing from AXA XL, offering new cyber insurance cover for large public corporations headquartered in the UK. The company is...
New York City Launches Parametric Flood Program With Insurance, Tech Firms
Mar 8 2023 // Insurer Swiss Re Corporate Solutions, reinsurance broker Guy Carpenter, and the data technology firm ICEYE have teamed up with New York City government agencies to develop a pilot parametric flood recovery assistance...
FloodFlash Eyes Parametric Splash in U.S.
Dec 6 2022 // Parametric flood insurance is still in its infancy in the United States, but one index-based insurer is preparing to make a splash in five states in early 2023. FloodFlash is set to begin offering parametric coverage for...
Insurance Technology: BirdsEyeView Wins Funds for Parametric Cover; Audatex Adds Live Car Valuation Data
Jun 22 2022 // Parametric Insurtech startup BirdsEyeView has closed a seed funding round for an undisclosed amount led by SFC Capital, with the funds matched by the European Space Agency (ESA). BirdsEyeView uses satellite data to...
MGA Rokstone Launches Parametric Insurance Product for Caribbean
Jun 21 2022 // Aura Underwriting, part of Rokstone, the Aventum Group’s global specialty re/insurance MGA, has announced the launch of Aura Parametric, a new Caribbean parametric product to complement its existing Lloyds Caribbean...
