Parametric agricultural solutions

Parametric insurance covers the probability of a predefined event happening (e.g. a major hurricane or earthquake), paying out according to a predefined scheme instead of a lengthy claim adjustment process.

Unlike traditional insurance, which relies on lengthy loss adjustment procedures, parametric insurance pays out when a predefined event (i.e. flood, hurricane, earthquake, etc.) occurs as measured by a specified parameter, or index.

Parametric insurance offers financial protection against losses that are often hard, or even impossible, to get insurance for, except for in a non-traditional insurance structure. Traditional indemnity insurance, the kind we are all familiar with, pays out based on the cost of the loss incurred.