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Six things we learned from our Intelligent Insurer expert panel about how Parametrics are evolving and how they are changing the re/insurance landscape.
Key takeaways
- MGAs helped drive ‘explosion’ in parametric products in last six years
- Supply chain vulnerability and intangibles boost product demand
- Parametrics to stem the property-cat ‘bloodbath’ and plug nat cat and cyber gaps
- Lack of parametric in a company’s suite of products now viewed as ‘deficiency’
As it’s just 20 years old, it might seem strange that the modern version of parametric insurance is already having something of a renaissance. But renewed interest in the product, which has been around in some form since the 1800s, and its potential has rocketed in the past five or six years driven by evolving risks, managing general agent (MGA) activity and advancing technology.
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Parametric insurance, Renaissance, Swiss Re, Skyline Partners, Floodflash, Blink Parametric, Risks, MGA, Technology, Climate Change, Property Cat, Global
