Parametric insurance ‘natural fit’ for Asia as natural disasters rise

Tom Johansmeye, global head of index classes at Inver Reinsurance Brokers Ltd., said that parametric insurance and reinsurance seems to be a natural fit for the Asian region, which is seeing an increase in natural disasters, Reinsurance News reported. A whitepaper by Mr. Johansmeyer said that while traditional insurance usually requires historical data around penetration, premium spend and losses, parametric insurance and reinsurance does not have to deal with these constraints.