Parametric insurance is an Innovative Insurance model that relies on technology for Rapid payouts this approach differs significantly from traditional insurance as it uses an event trigger mechanism instead of assessing losses …
The accuracy and data of trigger verification plays an important role in claiming a parametric insurance. Nowadays drones, advanced sensors, and real time data are being used by insurance companies to confirm …
Most of us will have heard of parametric insurance in one way or another, and based on some of the extreme weather that we’ve seen globally this year, its relevance within the …
Traditional Insurance Vs Parametric Insurance: Once the event occurs in the traditional insurance, then there’s a lot of process to go through before you actually get it paid out. You have to …
Parametric insurance is being hailed as a breakthrough in climate resilience in the United States but trust issues, limited awareness, and structural challenges continue to restrict its broader adoption. The Myths and …
In late January 2023, parts of New Jersey and surrounding regions experienced flooding caused by a low-pressure system that moved northeast through the Ohio Valley. The storm brought snow to northern areas …
What if filing an insurance claim could be as easy and instant as sending a text? Discover how blockchain technology can make insurance faster, cheaper, while keeping your personal data under lock …
The Lahaina fire is a tragedy, a ginormous event in the lives of thousands of people in Hawaii. After all of the fires are out and the emergency responders are on, insurance …
Climate change is causing billions in damages each year, yet traditional insurance often leaves huge coverage gaps. A new approach parametric insurance is emerging as a faster, fairer, and more transparent alternative. …
Before looking at what parametric insurance means, let’s first understand how traditional insurance works. Typically, the insurance company issues a policy, and if there is a loss, the customer files a claim. …