Machine Cover predicts parametric insurance to increase share of indemnity insurance market

Machine Cover Chief Executive Officer Inder-Jeet Gujral is interviewed by Captive International, where he predicts that parametric insurance will increase its share of the indemnity insurance market.

He states: “Parametric insurance is going to comprise a larger share of the indemnity insurance market, as there are classes of risk that are otherwise uninsurable. The annual worldwide P&C market is currently around $1500 billion, so even if parametric insurance grows to be only 10 percent, that is still a huge number.”

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