Blue Marble, a specialist in designing innovative parametric insurance products, has joined forces with MAPFRE to widen access to parametric cover as climate-related risks grow in both frequency and intensity.
The tie-up will see the two firms expand the reach of parametric solutions, which draw on objective data, advanced analytics, artificial intelligence and automation to release financial support quickly once a predefined trigger event takes place.
Because the model strips out much of the complexity found in traditional claims processes, payouts arrive sooner, bolstering financial resilience at the moment it matters most.
Under the partnership, Blue Marble’s strengths in building novel parametric products will be paired with MAPFRE’s deep understanding of local markets and its well-established distribution networks. The two companies intend to bring insurance to regions where protection gaps remain considerable, helping communities become more resilient in the process.
Blue Marble focuses on the design of innovative parametric insurance offerings aimed at underserved populations and businesses exposed to climate hazards.
The rising uptake of parametric cover mirrors a broader industry move towards digital, data-led solutions that improve accessibility, efficiency and scalability.
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