Meteo Protect has launched its open insurance platform to help insurers and startups around the world release their own parametric insurance programs.
ParametricAPI.com gives direct access to 300 pre-configured parametric or index insurance products to cover weather-related risks, to protect individuals, SMEs and corporate clients. Protections include drought, excess rain, heat and frost, as well as a number of other risks.
The service can be integrated with a business’ existing infrastructure to provide weather insurance on their own product offering.
Meteo Protect founder Gabriel Gross said, “Parametric insurance is the best solution to cover climate change related risks and reduce the protection gap, but it can be very complex to setup both on a regulatory perspective and technically. With ParametricAPI.com, we are ready to leverage our experience, algorithms and database as well as our risk-taking capacity, and support traditional insurers and startups alike globally.”
France-based Meteo Protect is an underwriting agency, authorized as Lloyd’s coverholder, which means ParametricAPI.com polices leverage Lloyd’s insurance and reinsurance licenses around the world.
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