Descartes Underwriting, a parametric-specialized provider of corporate insurance against nat cat and climate risks, has formed a new partnership with Reask, a tropical-cyclone risk analytics firm.
The collaboration aim to expand parametric cyclone insurance into new locations by combining wind data from Reask with Descartes’ ability to incorporate new technology into parametric insurance product design.
Notably, the firm’s believe that the global coverage of Reask’s tropical cyclone product, Metryc, will enable the expansion of parametric insurance policies into regions and geographies where data limitations impeded previous coverage.
