Jola
toujours là*
*never let you down
PARAMETRIC INSURANCE / CITRUS
INDEPENDENT CONSULTANT & BROKER
EXPERT ON WEATHER RISK MANAGEMENT & PARAMETRIC INSURANCE
TRAINING
PARAMETRIC INSURANCE
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Historical overview
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Main players
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Available products
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Keys to designing an efficient cover with optimized parameters
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Keys to good tender processing and risk taker selection
Training delivered by Bernard Finas, expert in parametric insurance, Associate Member of the French Institute of Actuaries.
BROKERAGE
WEATHER RISKS INSURANCE
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Multiperil crop insurance
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Area yield insurance
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Hail insurance
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Frost insuranceF
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Drought insurance
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Lack of drought stress insurance
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Other bespoke insurance products
We analyse for you the products offered by insurance compagnies, both traditional ones (with claim adjustment) and non traditional ones (e.g. parametric or hybrid). We define with you the parameters and we assess the price of parametric insurance contracts, independently from insurance companies.
Our expertise, strong technical skills and work ethics are acknowledged by insurance companies. Thanks to the strong relationships we have with risk takers we can have new concepts we develop to better serve our protection buyers clients turn quickly into real insurance products.
TRADITIONAL INSURANCE HAIL
Hail insurance, which appeared in the early 19th century, is the oldest form of crop insurance. While the probability of occurrence of a hail event is rather low, the severity is very high as hail events could destroy up to 100% of the value of a plantation in a few minutes.
As a traditional insurance product, the indemnity of a hail insurance contract is determined by a claim report established by a claim adjuster after visiting the damaged area.
In case the traditional hail insurance product would not be available or would not be adequate, it would be possible, for large growers or for growers union, to set up a non traditional hail insurance contract, with automatic payout based on connected weather sensors.
PARAMETRIC INSURANCE FROST AND OTHER PERILS
Parametric insurance provide you with new tools to protect against weather risks, to be used as stand alone insurance or as a complement of a traditional insurance contract (e.g. Hail or MPCI).
Key strengths :
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Payout automatically triggered, without on-site claim adjustment process
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Possibility to insure only part of the crops and part of the surfaces
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Suited to conventional as well as to organic farming
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Cover can be purchased up to 15 days before the start of the risk period
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Very attractive pricing for large deals (competition between several insurance companies)
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Personalized and expert insurance advice to fine tune the parameters of the cover and to get a good understanding of the payout mechanism.
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Possibility to get subsidy from the UE in the case of group insurance contract set up by growers union (operational programmes)
PARAMETRIC INSURANCE
WEATHER / FROST
Severe frost snap as the one that stroke Texas in early 2021 can not only destroy last season but also next season harvests and even kill trees. To compensate for financial losses, a frost cover can be put in place, so as to automatically trigger compensation if the temperature drops below certain predefined thresholds.
PARAMETRIC INSURANCE
WEATHER / EXCESS HEAT
Excess heat can also cause significant damage, especially when it occurs in a situation of prolonged drought. Thanks to the excess heat cover, it is possible to automatically trigger compensation when temperatures rise above certain critical thresholds.
PARAMETRIC INSURANCE
WEATHER / DROUGHT
Drought can cause extensive damage to trees, including dieback. Thanks to drought cover, it is possible to automatically trigger compensation when the variation in cumulative rainfall from normal falls below certain critical thresholds.