(Re)Insurance

Earling, the a leading provider of short-term natural disaster risk systems, has the potential to impact both risk takers, such as insurance companies, and risk owners, including enterprises and small to medium-sized enterprises (SMEs), in the context of parametric insurance.

Impact on Risk Takers (Insurance Companies)

1. Data-Driven Underwriting: Earling's technology can provide insurers with accurate and timely seismic data, enabling them to underwrite parametric insurance policies more effectively[2][3].

In recent years, the insurance industry has witnessed a paradigm shift with the introduction of innovative products designed to offer more efficient and tailored coverage to individuals and businesses. One such innovation is parametric insurance, a concept that is gaining traction due to its unique approach to risk management. In this blog post, we'll delve into the definition of parametric insurance, its key features, advantages, and potential applications.

In the event of flooding, sensors measure the water level on site and payment of the sum insured is triggered the moment the water reaches the predetermined depth.

In New Zealand, a region prone to seismic activity due to its location along the Pacific Ring of Fire, advancements in seismic risk modeling play a critical role. The complex tectonic setting necessitates a comprehensive approach, considering factors such as fault lines, historical seismicity, and future event potential. Accurate seismic risk modeling empowers authorities, businesses, and individuals to implement effective preparedness measures, enhancing resilience against potential earthquakes.