India’s parametric market is growing at a faster pace of 11.3% annually through 2028. As India faces more frequent floods, ...

Unlike traditional insurance, parametric products offer automatic payouts when a weather event crosses a pre-set limit — no ...

Beyond weather, “there are many other opportunities to tackle,” Graillot said. For example, parametric insurance can also be applied to risks related to cloud outages, travel or cyberwallets.

Called the Disaster Risk Transfer Parametric Insurance Solution (DRTPS), it disbursed over $117,000 in March this year to residents affected by the 2024 monsoon.

Puerto Rican startup Raincoat raised a $6.5 million seed extension round for its parametric insurance solution against climate-related disasters, Axios reported.

Commentary Parametric Insurance Policies Are Gaining Traction While Florida businesses work to reclaim a sense of normalcy in their operations, they should also be taking this time to look to the ...

How Parametric Insurance Works Predefined Trigger: The policyholder and insurer agree on specific triggers (e.g., unemployment rate reaching a particular level due to AI advancements).

Navigating Hurdles: While parametric insurance offers many benefits, businesses may face challenges in its adoption. Here are some hurdles I've witnessed and ways to overcome them: 1. Data accuracy.

About $13 billion worth of parametric insurance policies were written last year worldwide, a figure that could surpass $29 billion by 2031, according to Allied Market research.

Parametric insurance has gained traction in recent years as a primary risk-transfer product; for example, Vermont, the leading U.S. captive insurance jurisdiction, in 2022 began permitting its ...

If you currently carry a $10,000 deductible, parametric insurance might let you get a $25,000 deductible, but any deductible would be paid instantly by your parametric policy.