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Traditional insurance policies and parametric insurance policies differ significantly in their approach to covering risk. Traditional insurance policies, such as property insurance, typically cover losses based on the actual damage caused by an event, while parametric insurance policies cover losses based on predefined parameters such as the intensity of a natural disaster. Parametric insurance policies …

“Understanding the Differences between Traditional and Parametric Insurance” Read More »

Climate change has made extreme weather events more frequent and severe, resulting in a higher risk of property damage and business interruption. As a result, climate risk management has become a key concern for businesses, particularly those in vulnerable industries such as agriculture and tourism. One solution that is gaining popularity is parametric insurance. Unlike …

“Why Parametric Insurance is a Smart Choice for Climate Risk Management” Read More »

Parametric insurance is changing the way insurers handle claims. Unlike traditional insurance policies that rely on subjective assessments of damages and losses, parametric insurance uses objective, predetermined parameters to trigger a payout. This means that claims can be paid out more quickly and efficiently, reducing the time and resources required for the claims process. One …

How Parametric Insurance is Revolutionising the Claims Process Read More »

Small businesses often face unique risks that can have a significant impact on their operations and bottom line. Traditional insurance policies may not always provide adequate coverage for these risks or may come with high premiums and deductibles. This is where parametric insurance can offer a valuable solution for small businesses. Parametric insurance is a …

“The Benefits of Parametric Insurance for Small Businesses” Read More »

As the insurance industry continues to evolve, brokers are tasked with staying up-to-date on the latest products and solutions available to their clients. One such product gaining traction is parametric insurance, which provides coverage based on predetermined triggers, such as weather events or seismic activity. However, navigating the complexities of parametric insurance can be challenging …

Navigating the Complexities of Parametric Insurance: Tips for Brokers Read More »