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Jola

toujours là*
*never let you down
INNOVATIVE RISK MANAGEMENT SOLUTION
ECONOMIC DOWNTURN INSURANCE
transparent, quick, simple, payout automatically triggered a few weeks after a covered event occurs
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BUSINESS / PARAMETRIC INSURANCE AGAINST ECONOMIC DOWNTURN

WHAT IS COVERED ?

All kind of financial losses that result from the occurrence of covered events: 

  • Loss of revenue

  • Additional credit insurance costs

  • Increased borrowing costs

HOW DOES IT WORK ?

Inception

  • [Jola & Client] Definition of cover parameters : coverage period, covered events and associated modelled damage ratios

  • [Jola & Client] Definition of sum insured and deductibles

  • [Jola & Client] Selection of the insurance company

  • [Assureur & Client] Signature of the contract and payment of the premium at least 3 months before the start of the coverage period

At the end of the coverage period

 

HOW MUCH DOES IT COST ?

  • The insurance premium depends on the contracts parameters

  • Typically between 0.5% and 1.5% of total sum insured

ABOUT JOLA

Jola is an independent risk management consultant and insurance broker with strong expertise in the design parametric insurance and weather risk transfer solutions. 

Jola is a French "Société par Actions Simplifiée" with variable capital of 5.000 €, which registered office is at 74 A rue Lecourbe, 75015 Paris - France. Jola is registered in the Paris Trade and Companies Register under number 834 358 111. Jola is registered in the French registry of insurance intermediaries under number 18 007 161. Jola benefits from the free provision of services across the EU and is therefore authorized to distribute insurance to all clients in the European Union. 

 
 

BROKER / GIVE YOUR CLIENTS ACCESS TO ECONOMIC DOWNTURN INSURANCE

THE OPPORTUNITY

  • Bring your current clients new risk management solutions to protect their business that do not have many of the drawbacks of traditional insurance products.

  • Get competitive advantage by providing access to exclusive niche products and secure new clients

  • Secure loyalty of your existing clients

  • Reduce credit risk on your clients

  • Grow your revenue

WHAT JOLA WOULD BRING

  • Exclusive innovative parametric insurance products

  • Personalized written advice and quotation report to simply convey to your clients

  • Expertise and reactivity thanks to in-house strong actuarial tools and very good long-standing relationship with insurers, re-insurers and specialized funds in the parametric risk market 

  • Ideas and support on how to grow your portfolio of clients

WHAT YOU WOULD BRING

  • Management of relationship with your clients and prospects

  • Ability to properly convey Jola reports to your clients and prospects

  • Support Jola in the execution of contracts so that all the documentation is executed swiftly by the clients and premium payment are made in due time

(RE)INSURER : GET ACCESS TO JOLA METHODOLOGY AND/OR PROVIDE RISK TAKING CAPACITY

CONTEXT
 
Since the burst of covid-19 crisis, there is a surge in the interest for operating loss insurance. But traditional indemnity-based insurance products have suffer many criticisms : complex wording, painful and very long claim process, etc. Hence, insurance companies are eyeing to the parametric risk market, in which weather risks have been transferred for decades now, to see whether there could be suitable parametric operating loss insurance solutions for their clients. 
CO-DEVELOPMENT OF A PARAMETRIC INSURANCE OFFER
Today, thanks to world-class expertise in parametric insurance, Jola could provide assistance to insurance companies in order to co-develop with Jola a parametric pandemic insurance offer. More specifically, Jola could bring to an insurance company the following services : 
  • Intelligence report on the parametric risk market 
  • Documentation of Jola parametric economic donwturn insurance, index definition, historical data, actuarial support, and methodology to adjust covers to clients needs
  • Training and assistance to the insurer distribution network
  • Reinsurance capacity
PROVIDE RISK TAKING CAPACITY
As pandemic risk is typically a systemic risk, there is only little diversification that can be achieved inside of the risk class and therefore risk taking capacity for pandemic risk is limited for each risk taker. Therefore Jola welcome new partnership with insurance companies, reinsurance companies and specialized investment funds in order to ensure large capacity is available for Jola parametric economic downturn insurance.
 
 
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