Parametric Solutions for Reinsurance: An Introduction - ASEAN Reinsurance Programme (ARP)

Programme Highlights

This 3-hour introductory training offers a foundational overview of parametric insurance in reinsurance. Participants will learn how parametric models differ from indemnity-based ones, focusing on triggers, indices, and basis risk. The session explores real-world applications for natural catastrophes and extreme weather, highlighting benefits like faster recovery and protection gap reduction. It concludes with guidance on designing parametric reinsurance solutions and a Q&A segment.

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3 CPD Hours
Mode: Virtual
Date: 18 July 2025
Time: 9.30 a.m. to 12.30 p.m (Singapore Time)

For Whom

Early-career reinsurance and insurance professionals
Underwriting and claims staff exploring alternative risk transfer methods
Insurance brokers seeking to understand new solutions for clients
Professionals from development finance, NGOs, or public agencies involved in disaster risk financing
Anyone with an interest in innovative insurance mechanisms and emerging market solutions

Key Learning Objectives

At the end of the programme, participants should be able to:

Understand the fundamental principles and terminology of parametric insurance.
Recognize how parametric reinsurance differs from traditional indemnity-based structures.
Identify common use cases and real-world scenarios where parametric solutions are applied.
Gain introductory insights into trigger selection and basic design considerations.

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Programme Outline

Introduction to Parametric Insurance: What it is and why it matters
Comparing Parametric and Indemnity-Based Reinsurance
Use Cases: Natural Catastrophes, Weather Risks, and Rapid Payout Scenarios
Introduction to Triggers, Indexes, and Basis Risk
Key Considerations in Structuring Basic Parametric Covers
Q&A

Programme Leader

Andrew Harris is a seasoned insurance & reinsurance practitioner with more than 40 years of global experience starting at Lloyd’s of London, then progressing to Reinsurance underwriting in Bermuda, before re-locating to Singapore with an Asian Regional responsibility and focus.

Having held four CEO roles for Multi National Reinsurance Brokers in Singapore over a 32 year period involving all classes of General Insurance with a focus on Catastrophe Reinsurance Treaty programme design involving more than 500 Insurers across three decades, Andrew is now pioneering the fast growing innovative Parametric Insurance solutions sector utilizing Satellite Data science partner firms to improve Risk Management methodology within Climate change exposed sectors such as Agriculture and Renewable Energy.

As an independent Consultant, Andrew continues to be fully engaged across all Asean Insurance markets undertaking a number of Industry Conference Speaking engagements on his favoured topic of ‘Catastrophe Risk Management involving Natural Disaster Schemes’ and engaging in Workshops, Seminars, Training to facilitate the downloading of knowledge to generations XYZ on latest market developments.