“PARAMETRIC PRODUCTS ARE A WAY TO AUGMENT THE MARKET AND PROVIDE COVERAGE WHERE OTHER INSURERS ARE UNABLE ”
MARK HARA US CEO , FLOODFLASH
“ From a committed capacity standpoint , the vast majority of parametrics are still nat cat covers ,” he continues , “ but the value of parametrics in low-data environments is fuelling swift growth in non-cat exposures where indemnity is less competitive , or can ’ t be delivered at all .”
Achieving scale with parametric insurance One obstacle holding parametrics back is its ability to scale . This is primarily driven by the cost , FloodFlash ’ s Hara claims . “ Modelling is certainly one part of that – but you also need to collect accurate , reliable trigger data in a
80 July 2023