Mia Vioulès, AXA Climate & Robert Schablik, CoreLogic: Hailstorm parametric insurance - an innovation success story (192)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Business, Entrepreneurship, Investing

4.9 • 51 Ratings

🗓️ 5 June 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the strengths of using parametric insurance for climate-related perils and events is the ability to offer an immediate payout to policyholders who can’t afford to wait for financial assistance. AXA Climate Underwriter Mia Vioulès and Robert Schablik, Associate Vice President, Head of Global Risk Management Sales at CoreLogic, join Matthew to discuss how the two companies are providing parametric insurance for property damage and business interruption caused by hailstorms. The conversation covers how the technology behind the product works and the pain points being solved by parametric insurance. Talking points include: The data and triggers being used in CoreLogic’s hailstorm model Using parametric to overcome traditional barriers to underwriting hail Educating buyers on the potential of parametric insurance Working with clients and brokers to build appropriate coverage How the AXA Climate School helps clients understand their climate change exposures If you like what you are hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. More information and content from AXA XL and CoreLogic are available on their respective InsTech member profiles pages. The InsTech report mentioned in the episode, ‘Parametric Insurance in 2022 - the 150+ companies to watch’, will be released on Tuesday 14 June. The report is free to InsTech members and we are offering a 50% discount code to non-members who register before 14 June. If you would like to get regular updates on parametric insurance and climate-related risk developments, sign up to our Parametric Post and Climate Risk newsletters. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. The Learning Objectives for this podcast are: Discuss some of the typical pain points from climate-related perils and how parametric insurance offers a solution to those Identify the relevant data and information needed to build effective hailstorm models Explain the importance of companies understanding their climate change exposures If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 192 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Hello and welcome and if this is your first time joining us then thank you very much for plugging us in.
0:18.6	I'm Matthew Grant, one of the partners at Instech and your podcast
0:21.9	host today. Of course, if you're a regular listener, welcome back and thanks again for inviting us
0:26.8	along whether you're running, cycling, walking, driving to school, ironing, or even now that
0:31.6	summer is here for some of us, maybe even mowing the lawn. Today, you're going to be hearing
0:36.1	about hellstorms or more precisely the work that acts of climate and
0:39.3	core logic are doing to provide parametric insurance to pay out when hail storms cause damage.
0:43.3	Now, for those of us in the UK, the idea that hailstorm could do damage seems a bit far-fetched.
0:48.3	But keep listening if you want to find out the typical size of damagingorms in the US and elsewhere. And as we know, you could be listening in from anywhere in the world.
0:56.5	We're using the universal language of sport to describe those hailstorms.
1:00.4	More will be revealed shortly.
1:02.5	We're delighted of CoreLogic and AXA as corporate members of Instac.
1:05.7	Two of over 170 companies we're working with to help reveal
1:08.8	what is really going on in the world of insurance innovation or in some case it is not. If you are not yet one of our members and wondering
1:15.4	what you're missing, then please email any of us, hello at instech.co or contact me,
1:20.7	Matthew Grant, on LinkedIn. Okay, time to meet Mia Vueless and Rob Shablek.
1:30.6	So I'm delighted today to bring together two really well-known organizations who are collaborating
1:36.0	to provide solutions for protecting companies from hell damage.
1:39.8	So I've got joining me from AXA Climate, Mia Vueless, based in Paris, I believe, Mia.
1:45.6	Hello.
1:46.2	Yes, hello.
1:47.5	And Rob Chablick, head of global risk management at CoreLogic.
	...

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