Natural hazard insurance
We use climate indices that measure your exposure to offer parametric insurance solutions.
We offer a quick and automatic payout.
No loss adjusters are required to assess the damage.
Example : Cyclone insurance
An airport in Key West is looking for an insurance solution against a potential cyclone that could lead to not only property damage but also to a decline in passenger traffic and increased operating costs.
Pain point: high level of deductibles of traditional coverage and Non-physical Damage Business Interruption exclusions.
AXA Climate Cyclone insurance product enables fast repairs and financial stability following a tropical cyclone.
WHAT WE OFFER
Rate on limit (purely indicative): 2-5%.
REAL WORLD EXAMPLE
Hotel chain in Gulf of Mexico
Trigger: cyclone category 3/4/5 passing within a 60-mile circle around each location.