Coronavirus has changed the insurance industry landscape. Insurers are now looking for smarter ways to insure difficult risk and tactics to avoid a repeat of the business interruption (BI) backlash. Clients are looking for cheaper, more certain cover and have a heightened awareness of BI.
Parametric insurance (also known as index insurance or event-based insurance) represents one of the approaches with the most potential to address the needs of insurers and customers at the same time. In this webinar recorded in May 2020, kindly sponsored by QOMPLX, Instech London invited FloodFlash co-founder Adam Rimmer and other leaders in the sector to discuss that potential, including:
- the role that parametric insurance might take in providing certainty and rebuilding trust
- how it can help close the coverage gap at prices clients can afford
- the role of modelling and analytics for difficult to price risk
- the attributes required to create priceable parametric triggers
- how parametric works in practice including stories from the front line
- the art of the possible
The session was lead by Robin Merttens, Partner at InsTech London. Alastair Speare-Cole, President of Insurance at QOMPLX and Hector Ibarra, CEO at Global Parametrics joined Adam on the panel.
For more information on parametric insurance, check out the following short articles:
- Matthew Grant’s excellent two part primer – CLICK HERE
- The FloodFlash introduction to parametric cover – CLICK HERE
To check out the great library of talks from Instech London visit their BrightTALK channel, where you’ll also find a calendar of upcoming talks from industry leaders.