A pre-agreed payout, triggered by the event itself.

Parametric insurance doesn't adjust your loss — it measures the event. Wind speed at your coordinates, shake intensity, inches of rain. Trigger hits, payment moves, usually in days. For volatile exposures and coverage gaps the traditional market handles slowly or not at all.

Coverage options

Hurricane & Named Storm

Payouts tied to measured wind speed or storm intensity at or near your locations — capital that arrives while the traditional claim is still being adjusted, when payroll, debris removal, and deductibles are due.

Hail & Severe Convective Storm

Index triggers based on hail size at your coordinates — increasingly valuable for dealerships, solar arrays, and property owners in hail alleys where traditional deductibles have climbed to percent-of-value levels.

Earthquake

Shake-intensity triggers at your site, paying without an adjuster ever walking the property. Often the practical answer where traditional earthquake pricing or deductibles have priced businesses out entirely.

Weather, Rainfall & Temperature

Rainfall, drought, snowfall, and temperature indices for businesses whose revenue is weather — construction schedules, agriculture, outdoor venues, seasonal retail. If weather moves your P&L, it can be structured.

Deductible Buy-Down & Gap Fill

Parametric layers sized to fund the percentage deductibles and sublimits in your traditional program — wind and hail deductibles, flood gaps — so a covered event doesn't still cost you six figures out of pocket.

Non-Damage Business Interruption

Traditional business interruption requires physical damage to your property. Parametric doesn't — if the triggering event occurs and your revenue stops, the payment doesn't care whether your building was touched.

Why clients choose Geneva Insurance Group

Basis Risk, Addressed First

The known weakness of parametric is the event that hurts you without firing the trigger. We design triggers around that risk from the start — station selection, threshold tiers, dual triggers — and tell you plainly what each structure won't catch.

Access to Parametric Markets

Parametric capacity comes from specialist MGAs, carriers, and reinsurance-backed facilities most retail agencies never touch. As an independent specialty practice, we bring those markets to mid-size businesses — not just Fortune 500 risk managers.

Complement, Not Replacement

Parametric works best layered with a traditional program — funding deductibles, gaps, and speed — not replacing it. We structure both sides together so the layers meet instead of overlap.

Plain-Language Triggers

A parametric contract is a few pages of trigger math, and you should understand every line. We walk you through exactly what fires it, what doesn't, who measures it, and when the money arrives — before you sign.

Frequently asked questions

How is parametric insurance different from traditional insurance?

Traditional insurance pays your adjusted, documented loss after a claims process. Parametric pays a pre-agreed amount when a defined, independently-measured trigger occurs — Category 3 winds within a set radius, hail above two inches, ground motion above a threshold. No adjuster, minimal documentation, payment typically in days. The trade-off: the payment is the agreed amount, whether your actual loss was more or less.

What is basis risk in parametric insurance?

The gap between what triggers the contract and what actually hurts you — a storm that devastates your site while the official measurement misses the threshold, leaving no payout. It's the most important concept in parametric design, and it's manageable: tiered thresholds, careful measurement-point selection, and right-sized limits. We treat basis-risk design as the core of the placement, not a footnote.

What does parametric insurance cost?

Pricing tracks the modeled probability of the trigger: a payout level expected once in 20 years costs materially more per dollar of limit than once-in-100. There's no loss-history penalty and no deductible — pricing is about your location and trigger, not your claims record. We model a few trigger-and-limit combinations so you can see the price curve before choosing.

Do I need to prove a loss to get paid?

Most contracts require only a short attestation that you sustained economic loss from the event — a regulatory requirement that keeps the product insurance rather than a wager. What you don't need: itemized inventories, contractor estimates, or months of adjustment. Trigger verification comes from the named independent data source, and payment follows in days.