How parametric insurance is tackling fast-evolving risks


How parametric insurance is tackling fast-evolving risks

Climate, cloud and cyber risks change constantly, which is why innovative parametric products are a perfect fit, argues panel.

Parametric products hold the key to unlocking greater insurance penetration for fast-evolving risks related to climate, cloud technology and cyber, according to speakers on a recent Intelligent Insurer panel.

This type of index-linked insurance is evolving to keep up with changing risks, but panellists Ori Cohen, co-founder and chief operating officer of Parametrix, and Jaime de Piniés, chief executive officer of Blue Marble, agreed that the full potential of parametric insurance is still to be realised. They called for a greater push for education and information about its benefits for businesses and wider society.

When it comes to climate-related risks, a lot of the push to develop parametric products is coming from greater demand for cover as a result of increases in frequency and severity of catastrophes related to climate risk, de Piniés said.

Parametric insurance, Cliame risks, Ori Cohen, Jaime de Piniés, Blue Marble, Catastrophes, Technology, Automation, Global

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