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.

Listen below, download from the Podcasts page on Climate Proof, or tune in via Spotify or Apple Podcasts.

We talk about:

👉 What parametric insurance is all about, and why it’s turning into a popular climate resilience solution

👉 Why Nakita and Ric are targeting individuals, households, and employers with their micro insurance product

👉 How parametric insurance fits in with efforts to build community-based resilience

👉 What the insurance and tech industries are doing to adapt to the changing climate and welcome new players

Future guests include Jonathan Bowers of Path & Focus and Julie Gorte of Impax Asset Management.

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Thanks for listening!

Louie Woodall
Editor