Parametric Insurance represents a departure from conventional insurance models by providing coverage based on predefined parameters or triggers rather than actual losses.

Parametric insurance is an innovative alternative, often supplementing traditional insurance policies that usually fail to respond swiftly and adequately to the challenges brought by loss events.

The parametric insurance market is witnessing robust growth as more companies and governments recognise its utility. Projections indicate a compound annual growth rate (CAGR) of around 7% from ...

Kansas City-based Lockton launched a global parametric insurance practice, jumping on a growing trend for covering an increasing number of natural disasters. The Business Journals Select a City ...

According to the report, the "parametric insurance market" was valued at $18 billion in 2023, and is estimated to reach $34.4 billion by 2033, growing at a.

Parametric insurance offers a unique and innovative approach to risk management. By eliminating the need for traditional loss adjustment, it provides a more efficient and transparent solution for ...

How widely is parametric insurance used? Parametric insurance has been used around the world for years, from protecting crops in Africa , to property in the hurricane-prone Caribbean. Since 2007, the ...

A growing type of insurance, called parametric insurance, is helping farmers and others in developing countries respond to extreme weather events.

A road is visible at the farm of Joemar Flores in Mindanao, Philippines, May 9, 2024. A growing type of insurance, called parametric insurance, is helping farmers like Flores and others in ...