Swiss Re introduces a new parametric coverage

SWISS REIn order to meet the current needs of companies, Swiss Re has established a partnership with the tech group Hitachi. Such agreement allows the Swiss reinsurer to develop a cover against business interruption risks.

The new product, which is based on Iot (Internet of Things) data, deals with a digital and automated process. In the upcoming weeks, Swiss Re will unveil the first parametric offers targeting the industrial and transport sectors.

The damages are automatically compensated as soon as the predefined threshold, measured by an Iot sensor, is reached.

Read also | Lloyd's launches a parametric policy

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