Tropical Cyclones - A growing risk and the importance of Parametric Insurance
Getting to the Heart of the Matter… tune into our thought leadership podcast series
In recent news, the Australia Bureau of Meterology has now raised the La Nina risk alert, which essentially translates into a higher risk of widespread flooding and tropical cyclone alerts across the globe. Climate models are indicating further cooling is likely to come instigating wetter-than-average conditions for northern and eastern Australia.
In this podcast, we look at the likelihood of this growing risk as with climate change taking a turn for the worse, unexpected losses could put a financial strain on individuals, businesses and societies.
Learn how STORM, a parametric windstorm solution, can swiftly predict optimal insurance solutions in fast-changing climatic environments. This allows settlement of natural disaster claims within days of the storm, based on pre-agreed parameters such as the storm's wind speed at a specific location. Thus, addressing the protection gap and complementing traditional insurance policies which generally cater to tangible losses.
This session covers:
- A parametric data-based insurance solution STORM protecting businesses with fast, transparent and flexible solutions.
- Parametric insurance radically reshaping the insurance industry and protection gap; providing a growing opportunity for a paradigm shift in the world of insurance products.
The webinar was hosted by Stephen Higginson, Head of Customer & Distribution for Australia and New Zealand at Swiss Re Corporate Solutions and was joined by:
- Martin Hotz – Head Parametric Nat Cat at Swiss Re Corporate Solutions
- Thomas Loridan – CEO and Co-Founder Reask