STORM: Parametric Insurance to close the protection gap
STORM is a flexible and transparent insurance product that allows for fast payouts, within a few weeks, sometimes as fast as ten days.
This product is designed to closely mirror what the customer experiences during the storm. Just days after a tropical cyclone makes landfall, we receive a high-resolution wind map. We then find the highest one-minute sustained wind speed during the hurricane at the policyholder's location(s) and determine the payout based on this wind speed. This allows for policy holders to recover proceeds for tropical cyclones that have a meaningful impact at their locations.
We team up with the leading tropical cyclone wind speed data providers worldwide. Its policies can cover multiple locations and it offers the simplicity of minimum exclusions, no sub limits, and no deductibles.
Learn more: https://corporatesolutions.swissre.co...
Swiss Re
The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally
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