×Parametric Insurance

Corporations can use WindX to purchase insurance cover on a parametric basis. Rather than getting paid for actual losses, corporations could purchase parametric insurance cover that will pay them based on windspeed measurements. Benefits of this type of cover are:

  • Quick pay—insured is paid days after the event, rather than waiting for months to settle a claim
  • Can be used for business interruption (BI)—unlike traditional BI cover, this payout does not require property loss. This can be useful for corporations that can suffer significant BI losses while sustaining minimal property damage
  • Tailored—windstations can be installed at the client’s site to give the best estimate of local wind speeds