Positive Parametrics
We have been proud in the UK to develop a portfolio of Parametric business. Our aim here has been to build a business line that primarily makes sense from a business standpoint, but also has the benefit of helping organisations, governments and communities when it comes to sustainability.
Parametric insurance can often help a risk to become, or remain, insurable. Our portfolio covers a huge range of risks from large corporate hotel groups protecting properties in the South Pacific against increasing flood risks to the African Risk Capacity's (ARC) protection of farmers against a variety of adverse weather conditions. In the case of ARC, pooling disaster-related risks across African nations, ARC leverages the rapid pay-outs of parametric insurance to strengthen the financial resilience of member states, fostering long-term economic stability and development.
For flood products, parametric insurance and risk engineering can combine to help with adaptation and resilience measures. For example, site-based water level sensors can continuously monitor conditions and alert risk managers when flood mitigation measures are needed. The same sensors can then be used to provide rapid parametric pay-outs should the worst happen. In a world where flood and other climate risks are ever increasing, this type of synergy between GC&C and risk functions can help ensure that insurance remains sustainable as a mechanism for managing risk.
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Positive Parametrics
We have been proud in the UK to develop a portfolio of Parametric business. Our aim here has been to build a business line that primarily makes sense from a business standpoint, but also has the benefit of helping organisations, governments and communities when it comes to sustainability.
Parametric insurance can often help a risk to become, or remain, insurable. Our portfolio covers a huge range of risks from large corporate hotel groups protecting properties in the South Pacific against increasing flood risks to the African Risk Capacity's (ARC) protection of farmers against a variety of adverse weather conditions. In the case of ARC, pooling disaster-related risks across African nations, ARC leverages the rapid pay-outs of parametric insurance to strengthen the financial resilience of member states, fostering long-term economic stability and development.
For flood products, parametric insurance and risk engineering can combine to help with adaptation and resilience measures. For example, site-based water level sensors can continuously monitor conditions and alert risk managers when flood mitigation measures are needed. The same sensors can then be used to provide rapid parametric pay-outs should the worst happen. In a world where flood and other climate risks are ever increasing, this type of synergy between GC&C and risk functions can help ensure that insurance remains sustainable as a mechanism for managing risk.