Parametric insurance and modelling are used by national governments and organizations in Latin America and the Caribbean (LAC) to help microentrepreneurs and other lowincome populations manage the climate and catastrophe risks they face. This session explores the nuances and lessons of parametric insurance and modelling, including partnerships and model applications, and provides examples of how these solutions provide fast and reliable responses to catastrophic events, the potential for scaling, and increased protection for low-income populations. The panel will also look at the role of parametric insurance in the face of climate change.
“Macro, meso, micro: Practical experiences at all levels of parametric insurance“ at the ICII 202 Matt Chamberlain (Principal and Consulting Actuary, Milliman, United States), Iker Llabres (Business Manager for El Salvador and Actuarial Officer, MiCRO, United States), Isaac Anthony (CEO, Caribbean Catastrophe Risk Insurance Facility (CCRIF), Cayman Islands), Indira Gopalakrishna (Microinsurance Specialist, MicroInsurance Centre at Milliman, Singapore)
This virtual session was hosted by the MicroInsurance Centre at Milliman (www.microinsurancecentre.org) and took place on 3 November 2020 at the Munich Re Foundation’s and Microinsurance Network’s International Conference on Inclusive Insurance 2020 Digital Edition.