Parametric: the time is now as the concept enjoys a renaissance
Cyber parametric is on its way
Six experts at the leading edge of parametric insurance share insights on where this type insurance is heading and what global changes and technological advances will help it get there.
- 90 percent of internet of things/parametric potential ‘is still to come’
- More affordable satellites open up previously unobtainable possibilities
- Improvements in flood mapping resolution bring better risk pricing
- Sensors ‘in your back yard’ will bolster trust in insurance
Parametric insurance, a simple index-linked form of cover, has a lot of unrealised potential. Newly accessible and more affordable tech means the evolution of parametrics could take a very different path from the one expected. Panellists from two Intelligent Insurer debates on the topic share their thoughts on what could shape the future of parametrics.
Parametric insurance, Renaissance, Swiss Re, Skyline Partners, Floodflash, Blink Parametric, Risks, MGA, Technology, Climate Change, Property Cat, Global