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Insurtech Floodbase – which is a data provider for parametric risk transfers and a reporting agent – has partnered with African Risk Capacity Limited and CelsiusPro’s Global Parametrics to deliver parametric flooding insurance programs. Mozambique You can also find out more about the following: Malawi.
In October, it was announced African Risk Capacity Limited, (ARC Ltd.), had entered into a strategic partnership with Floodbase. The two would work together to develop, scale, and distribute parametric flood insurance policies for Africa.
That partnership is already bearing fruit and with the addition of expertise from Global Parametrics, as well as a grant awarded to Floodbase through the U.S. Agency for International Development (USAID) as part of the President’s Emergency Plan for Adaptation and Resilience (PREPARE), these first African parametric flood insurance programs are set to launch.
Floodbase has highlighted the fact that historically, insurers have struggled to develop economically viable flood insurance policies for African buyers.
“Modeling flood risk across large, agricultural regions is challenging to do…
