Parametric Insurance In An Hour

Description

This one-hour continuing education course provides a focused and practical introduction to parametric insurance—an innovative, event-based risk transfer solution that is transforming the insurance marketplace. Participants will explore how parametric insurance is defined by leading authorities such as IRMI and Descartes Insurance Solutions, how it differs from traditional indemnity-based coverage, and why it is increasingly used as a complementary solution for catastrophic risks. The session explains how measurable parameters-such as wind speed, rainfall, earthquake magnitude, or storm surge-serve as triggers for pre-defined payouts, often enabling faster and more transparent claims settlement. Attendees will review current market options, major industry players, real-world policy examples, and key underwriting considerations including modeling, fortuity, trigger mechanisms, and payout structures. The course concludes with a practical risk management framework to help determine when parametric solutions make sense for buyers.