Nakita Devlin On The Promise Of Parametric Insurance
Parametric insurance is all the rage in climate resilience circles. This is a financial product that pays out to policyholders upon a triggering event – like after a certain amount of rainfall hits an area, or if temperatures exceed a certain threshold for a number of consecutive days. Nakita Devlin is the CEO and Co-Founder of Ric, a parametric insurance startup that caters to individuals caught in rainfall-induced flooding events. She talks with Louie about the current vogue for this type of insurance, why established carriers and startups alike are excited by its potential, and the tech and policy hurdles – and opportunities – she faces. Nakita also discusses how parametric insurance fits in with the broader ecosystem of climate solutions, and the importance of community-based resilience. Sign up to climateproof.news for a twice-weekly dose of climate adaptation & resilience news and insights. Questions? Comments? Email Louie at louie.woodall@loremedia.info