A simple & transparent cover
Cover is based on pre-defined parameters (e.g. distance to a cyclone track and cyclone wind speed) & pre-agreed indemnity (expected financial loss)
We monitor the evolution of these parameters and whether a threshold is triggered using verified third party data from reputable providers (NOAA, JMA, USGS, etc.)
When a triggering event occurs, upon notification, clients swiftly receive compensation, often within a matter of days.
A swift indemnification process
Upon receipt of all required documentation, clients are indemnified in less than 5 days, in the majority of cases.
Parametric insurance pays out when a predefined event (e.g. flood, hurricane, earthquake, etc.) occurs as measured by a specified parameter, or index.
Driven by objective data and near real-time monitoring from IoT, radar, and satellite imagery, parametric insurance provides a means to guarantee liquidity, via swift, direct payout, following a qualifying event. With no on-the-ground loss adjustment required, a parametric cover keeps cost low while offering precise protection.
Claims process and timeline may varie in line with each policies' specificities.
Key advantages
Transparency
Our easy-to-follow insurance wordings of parametric solutions are enabled by third-party data accessible to clients & brokers, providing added transparency through a straight-forward and clearly defined data-driven claims process.
Precision
Our advanced algorithms, in-depth risk data, and expert knowledge facilitate the full understanding of a risk, empowering solutions with unmatched accuracy and applicability to the client's vulnerabilities.
Client-customized
Our covers are fully flexible and structured to the client's specifications, unlocking coverage outside of typical insurance boundaries and with the financial freedom to service any insurable interest.
Data-driven
Our methodoloy is fully data-driven backed by long running weather data, climate models as well as earth observation technology and on-site sensors, assessing each risk objectively under consideration of historic events and mitigations.
Our unique parametric approach
Next gen underwriting
Structured as a Managing General Agent, we write parametric policies on A rated paper supported by best-in-class (re)insurers.
Deep expertise in climate risk
Supported by an industry leading team of 200+ PhDs, natural risk modelers, data science engineers, software engineers and insurance professionals
Data-driven approach
We incorporate advanced technology (satellites, sensors) and machine learning to model the underlying phenomena directly, better capturing trends and climate change impacts
Diverse global footprint
Collaboration with brokers around the world to protect their corporate & public sector clients against the full spectrum of Nat Cat, extreme weather and emerging risks.
Parametric approach only requires a few data points
- Location file or GPS coordinates
- Historical loss records
- Installation of on-site sensors or other data for certain hazards
- For specific products, additional relevant data may be required
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