The Power of Parametric Solutions for Climate Resilience - Webcast

As climate change becomes a topic of increasing focus and with regulations poised to get tighter, the ability to customise parametric insurance solutions suggests that going forward, the product set is going to expand, according to industry experts.

Our recent Artemis Live webcast, The Power of Parametric Solutions for Climate Resilience, held in partnership with the Weather Risk Management Association (WRMA) and supported by Descartes Underwriting discussed these topics.

During the event, panellists explored the past, present and future of parametric insurance solutions.

Currently, explained panellists, adoption is growing at pace on the back of more abundant and advanced data, improvements in modelling, new technology, and heightened acceptance of this form of coverage.

But despite these advancements, there’s still many climate related exposures that perhaps aren’t so well measured, which, according to the panel, presents another opportunity for the marketplace.

One of the benefits of parametric insurance solutions, when compared with more traditional protection, is the ability to introduce a higher degree of customization; something panellists feel is vital when addressing climate change.

Panellists discussed the importance of risk transfer against climate change related risks being responsive and delivering protection at the right time, closely tied to the protection buyers experience.

The panel featured Daniel Vetter, Head of North America, Descartes Underwriting; Alain Lagesse, Director Group Risk Management, LVMH; Julian Roberts, Managing Director, Risk & Analytics, Willis Towers Watson; and David Whitehead, Co-CEO, Speedwell Weather.