Blue Marble, a micro insurer operating out of the UK, is taking steps to broaden parametric climate protection through the introduction of a new reinsurance facility. This initiative, known as the Impact Reinsurance Facility, is crafted to bridge the gap in protection for communities hit hardest by climate disruptions. The goal is to give insurers and brokers the tools they need to develop wide-reaching and effective climate protection solutions, all based on a simple, trigger-based parametric coverage model.
With support from Zurich Insurance and a host of international reinsurers, this facility aims to amplify climate insurance options across Latin America, Africa, and Asia. Whether communities face cyclones, droughts, heavy rain, extreme temperatures, hurricanes, or storms, this facility offers vital coverage. It’s an appealing option not only for reinsurers hoping to extend their climate risk initiatives using parametric strategies but also for brokers looking to boost capacity for their clientele.
In a post on LinkedIn, Blue Marble highlighted that this initiative is poised to benefit a wide range of stakeholders. Financial institutions, governments, international organizations, and industries that serve communities often overlooked, including banking sectors, agricultural traders, cooperatives, and the tourism industry, are all set to gain from this venture. They emphasize that the facility is “designed to be agile and responsive, allocating capacity where it’s needed most.”
Back in December 2024, Blue Marble, along with a consortium of insurers, paired up with InsuResilience Solutions Fund to roll out forecast-based insurance in the Kyrgyz Republic.
The company also offers two innovative technology solutions: AgSuite, which helps design and manage parametric agriculture schemes, and DxSuite, an API designed to scale up mass-market solutions.
Originally reported by Life Insurance International, a GlobalData brand, this update about Blue Marble launching a reinsurance facility for climate protection is part of their broader informative offerings. Please note that the information presented here is intended for general informational purposes. It shouldn’t be taken as direct advice. Before you decide on any action based on the content presented, we recommend seeking specialized professional advice to ensure accuracy and relevance to your specific situation.
