Parametric insurance to grow where insurers won’t tread

Richard Chattock, chief executive of U.K.-based venture capital firm Insurtech Gateway, said that parametric insurance is expected to grow in areas where indemnity insurance struggle to provide adequate protection, Artemis reports. Even though parametric insurance will never replace indemnity structures, there is scope for the purchase of an indemnity and parametric policy together, and there are some elements of parametric within some existing indemnity models, Mr. Chattock said.

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