This virtual session was hosted by the MicroInsurance Centre at Milliman (www.microinsurancecentre.org) and took place on 3 November, 2020 at the Munich Re Foundation's and Microinsurance Network's International Conference on Inclusive Insurance 2020 Digital Edition.
Parametric insurance and modelling are used by national governments and organisations in Latin America and the Caribbean (LAC) to help microentrepreneurs and other low-income populations manage the climate and catastrophe risks they face. This session explores the nuances and lessons of parametric insurance and modelling, including partnerships and model applications, and provides examples of how these solutions provide fast and reliable responses to catastrophic events, the potential for scaling, and increased protection for low-income populations. The panel will also look at the role of parametric insurance in the face of climate change.