Insight
Parametric insurance: A captivating solution
Parametric policies, which pay based on the magnitude of an event, can bridge coverage gaps that are difficult to insure with a traditional indemnity policy.
In this paper, we have investigated an alternative approach that addresses some of Word’s shortcomings when professionals need to generate multiple actuarial reports. Specifically, we show how the Jupyter Notebook application and the Python programming language can be used to produce professional-looking reports in an automated fashion. We show how our prototype system works, and cover the following topics:
Insight
Parametric policies, which pay based on the magnitude of an event, can bridge coverage gaps that are difficult to insure with a traditional indemnity policy.
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