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Specialist reinsurance dealer Miller has entered the parametric insurance coverage enviornment, launching a devoted world group.
This new group will give attention to the applying of parametric insurance coverage throughout varied industries, providing options past conventional pure disaster triggers.
It is going to be primarily based in London and led by Alice Glenister, who has expertise in parametric underwriting and insurance coverage.
The parametric insurance coverage group at Miller goals to supply shoppers with tailor-made options, starting from typical pure disaster triggers to bespoke programmes.
These embrace discount in yield, cyber downtime and wind deficiency insurance policies.
Miller stated the enlargement types a part of its dedication to diversifying its choices and assembly the particular wants and danger profiles of its shoppers.
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Beforehand, Glenister held the function of director of insurance coverage at Mastercard, the place she targeted on data-led and payment-led options.
She additionally brings underwriting expertise from her tenure at Generali.
Becoming a member of Glenister within the parametric insurance coverage group are Charlie Liddle, previously of OneGlobal, and Rowan Minhas from inside Miller.
Miller head of power & building Martin Henderson stated: “The formation of this specialised group underscores Miller’s ongoing dedication to innovation and client-centricity, permitting us to develop and implement cutting-edge parametric options tailor-made to satisfy the various wants of shoppers throughout varied industries and geographic areas.”
Glenister added: “That is an thrilling alternative to broaden on the parametric work Miller have been doing and I’m delighted to be main the formation of this devoted world group. Parametric insurance coverage presents quite a few benefits over conventional insurance coverage merchandise, together with sooner claims processing and better transparency.”
This group formation follows Miller’s appointment in January of Ollie Spells as head of London property facultative enterprise, bolstering the corporate’s International Facultative group.
In December 2023, Miller partnered with Salesforce to leverage its synthetic intelligence and cloud instruments to reinforce productiveness.
The middleman stated it’s going to deploy Salesforce Einstein and Monetary Providers Cloud to optimise operations throughout the corporate.
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