Parametric insurance is emerging as the most in-demand alternative risk solution, offering businesses swift and reliable financial protection against increasingly unpredictable risks.
Tag: parametric insurance
Otonomi Expands Parametric Cargo Insurance to New Transport Modes
Otonomi, an insurtech startup, has expanded its parametric cargo insurance to include more transport modes. Initially focusing on aviation cargo, Otonomi has now added maritime and intermodal coverage.
Investors Are Increasingly Interested in a Novel Type of Weather Insurance
Interest in startups trying to shake up the insurance industry is on the rise as weather catastrophes worsen. The latest sign: New York-based Arbol has raised $60 million in a Series B funding round.
A New Breed of Insurer Is Battling Climate Change
The need for new ways to insure against catastrophes arises from the increasingly extreme nature of our planet’s weather. As we put more infrastructure of every kind into harm’s way, that’s leading to bigger losses for insurers. In the 1980s, the U.S. suffered an extreme weather event that cost $1 billion every four months. Now, one is happening every three weeks, according to the U.S. National Climate Assessment, released in November.
Wagers on the Weather? Insurers Offer a Way for Businesses to Hedge Climate Risks
Parametric insurance, which lets businesses tie their policies directly to weather conditions such as wind speed and flood depth, has garnered interest amid tough conditions for insurance buyers.
Automated Weather Insurance Could Offer Help in an Increasingly Hot World
A startup wants to help the insurance industry be more responsive to volatile weather and the widespread damage it can cause.
Embedded Insurance and Parametric Insurance: How They’re Evolving
Program Business looks at how embedded and parametric insurance is evolving and what this means for insurance carriers and customers.
Cloud Insurer Parametrix to Pay Claims after MS Azure Outage
Parametrix, the leading provider of downtime insurance, yesterday monitored an outage of Microsoft Azure, the world’s second-ranked cloud service provider.
Parametric Insurer FloodFlash Breaks into U.S. Market with CEO Hire
FloodFlash, the first insurance company to pay catastrophic flood claims as quickly as six hours after a flood, announced today the appointment of Mark Hara as CEO of North America.
New Paradigm Group Co-Founder Evan Glassman Announces Departure from MGA
The co-founder of New Paradigm Group, LLC, a Florida-based specialty general agency focused on parametric insurance, reinsurance, and risk transfer products, has left the company. Evan Glassman and Chairman Bradley Mayer founded the company nearly a decade ago with the goal of modernizing parametric insurance and reinsurance through innovative mechanisms that make the product more… Continue reading New Paradigm Group Co-Founder Evan Glassman Announces Departure from MGA