Jola
toujours là*
*never let you down
PARAMETRIC WEATHER INSURANCE
PARAMETRIC INSURANCE / HAIL
WHAT IS COVERED ?
All kind of financial losses that result from the occurrence of covered events that are not covered by your current insurance policies :
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Damage to solar panels
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Increased prevention costs
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Crisis management costs
HOW DOES IT WORK ?
Inception
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[Jola & Client] Definition of cover parameters : risk period, location of the hail sensor to be installed, covered events and associated damage ratio, limit and deductible
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[Jola & Client] Selection of the risk taker (e.g. insurance company)
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[Risk taker & Client] Signature of the contract and payment of the premium at least 15 days before the start of the coverage period
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[Jola] Collection of weather data from the Data Provider
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[Jola] Calculation of the damage ratio from weather data and contract parameters
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[Jola] Calculation of amount that can be claimed by the insured
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[Jola] Sending the calculation report to the Client and the Risk taker
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[Client] Signature of the loss notice
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[Jola] Sending the signed loss notice to the Risk taker
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[Risk taker] Payment of the payoff to the Client
HOW MUCH DOES IT COST ?
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The insurance premium depends on the contracts parameters
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Typically between 0.5% and 3% of the sum insured
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Examples (Europe)
PARAMETRIC INSURANCE / LOW SUNSHINE
OBJECTIVES
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Protect revenue against low sunshine
HOW DOES IT WORK ?
Inception
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[Jola & Client] Definition of cover parameters : risk period, reference weather data, index calculation methodology, strike, exit (cap/floor), tick, maximum payment amount
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[Jola & Client] Selection of the counterparty (risk taker)
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[Risk taker & Client] Signature of the contract and payment of the premium at least 15 days before the start of the coverage period
At the end of the coverage period
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[Jola] Collection of weather data
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[Jola] Calculation of the payoff of the cover
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[Jola] Sending the calculation report to the Client and the Risk taker
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[Risk taker] Payment of the payoff to the Client
HOW MUCH DOES IT COST ?
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The insurance premium depends on the contracts parameters
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Typically between 5% and 20% of the maximum payment amount
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Examples (Europe)