Parametric Insurance Market - Top Companies and Manufacturers

Companies Dominating the Parametric Insurance Landscape

The parametric insurance market is highly competitive comprising several companies, operating and global and regional levels. These key players are transforming the parametric insurance market by addressing the associated risks and are providing reliable and customizable solutions to customers. These companies are focused on strategizing innovative methods such as mergers and acquisitions, partnerships, and joint ventures to edge over the competition and enhance their product base. Some leading companies fueling global parametric insurance market growth include:

AXA SA
- Company Overview
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- Key Performance Indicators
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AIG (American International Group)
Berkshire Hathaway
Lloyd's of London
Nephila Capital
Neptune Flood Incorporated
Global Parametrics Limited
Floodflash Limited

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Parametric Insurance Market Size & Share | Growth Forecasts 2037

In the News

In February 2024, MIC Global, a provider of embedded microinsurance solutions, partnered with WRMS Global, a leader in climate and agricultural risk management, to launch a flood resilience insurance product for India's gig economy workers and merchants.
In June 2020, Global reinsurer Swiss Re helped Nagaland to secure parametric insurance for excess rainfall events that could result in devastating flooding. The parametric framework is designed to cover the entire state of Nagaland through six distinct zones, with a progressive payment system that ensures funds are allocated where losses occur and in proportion to the quantity of recorded rainfall, to match its impact.

Frequently Asked Questions (FAQ)

In 2024, the industry size of the parametric insurance market is USD 16.6 billion.

The market size of the parametric insurance industry is projected to cross USD 62.7 billion by the end of 2037 expanding at a CAGR of 11.7% during the forecast period i.e., between 2025-2037.

The major players in the market are Nephila Capital, Neptune Flood Incorporated, Global Parametrics Limited, Floodflash Limited, and others.

In terms of coverage, the natural catastrophe segment is anticipated to garner the largest market share of 56.7% by 2037 and display substantial growth opportunities during 2025-2037.

The market in North America is projected to hold the largest revenue share of 36.1% by the end of 2037 and provide more business opportunities in the future.

Parametric Insurance Market - Top Companies and Manufacturers

Companies Dominating the Parametric Insurance Landscape

Browse Key Market Insights with Data Illustration:

In the News

Frequently Asked Questions (FAQ)

How big is the parametric insurance market?

What is the outlook for the parametric insurance market?

Who are the major players dominating the parametric insurance market?

Which segment will capture the significant market share for the parametric insurance market by 2037?

Which region will provide more business opportunities for the growth of the parametric insurance market in the future?