Parametric Insurance

Brazil is a renewable energy powerhouse and is making significant investments to increase the participation of green sources in electricity production.

Joe Peiser talks about innovation in the insurance industry, parametric cover, and the promise of data analytics and predictive modelling.

Recent climate events have dented Brazil’s reputation as a non-catastrophic market, a perception that is set to have an impact on the country’s insurance market.

Airmic’s latest survey has identified that climate risk is not being prioritized among its members and that risk professionals are more concerned with managing severe short-term risks, such as flooding and tropical cyclones than the long-term impact of climate change.

Microinsurance creates opportunities to tap new markets in Latin America.

The industry’s innovators are making an increasing impact

The prospect of a long, hard market is driving businesses to make more use of self-insurance instead of handing premium over to carriers.

Boosted by government incentives and the introduction of new products like parametric cover, agricultural insurance has posted solid growth in the past decade in Colombia, attracting new players into the market.

Parametric insurance often supplements traditional insurance, but can also replace it, said Daniel Vetter, head of Americas, Descartes Underwriting.

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Tim McCosh, Co-Founder and CEO of Yokahu, looks ahead to what promises to be a busy next year as parametric products step in to bridge the trust gap in insurance

In Germany, not even half of homeowners have flood insurance, a protection gap that Swiss Re would like to close, said Beat Kramer Mölbert, head of property underwriting EMEA, Swiss Re.