Analysis of Parametric Insurance Market Size by Research Nester Reveals the Market to Register a CAGR of 11.7% During 2025-2037 and Reach USD 62.7 billion by 2037

Research Nester’s recent market research analysis on “Parametric Insurance Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitor’s analysis and an overview of the global parametric insurance market in terms of market segmentation by coverage, distribution channel, end use, application, and by region.
Growing Need for Innovative Solutions to Combat The Impact Of Natural Disasters
The global parametric insurance market has witnessed remarkable growth in recent years owing to the rising demand for risk management solutions to handle uncertain and unforeseeable natural calamities. Parametric insurance offers a streamlined approach with high transparency and prompt processing of claims to mitigate the high volatile environmental risks. Unlike traditional insurance, parametric insurance offers quick payouts based on pre-defined triggers. Companies in the market are focused on launching new products and solutions to cater to rising demand and enhance their product base.
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Some of the key growth factors and challenges of the global parametric insurance market include:
Growth Drivers:
• Increasing Focus on Risk Management
• Rapid Technological Innovations
Challenges:
Technological challenges such as modeling complexities, integration problems, scalability limitations, and cybersecurity risks can hamper the overall adoption of parametric insurance.
The natural catastrophe insurance segment is expected to account for 56.7% share during the forecast period owing to rising need for advanced parametric solutions for natural disasters, and high coverage costs of natural catastrophes.
By region, North America is expected to dominate the market with a share of 36.1% during the forecast period owing to the rising incidence of natural disasters such as hurricanes, floods, wildfires, and earthquakes across the region, increasing availability of parametric models with high accuracy and growing demand for advanced parametric insurance solutions in public and private sectors. In addition, rising support from governments and businesses to support parametric insurance products are expected to boost market growth in North America going ahead.
This report also provides the existing competitive scenario of some of the key players of the ASA XA, Swiss Re, Nephila Capital, Floodflash Limited, Allianz Group, and others.
Access our detailed report at:
https://www.researchnester.com/reports/parametric-insurance-market/6467
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