Parametric quote-to-bind ratio remains low as education needed for captive owners

Interest around parametric insurance is growing, but the actual quote-to-bind ratio for these policies is still relatively low, Chris Sutton, partner in speciality broking at McGill & Partner, told Captive Intelligence.

Parametric products are good fit for captives because they have direct access to internal company data, while the automatic pay-out function of parametric insurance streamlines the claims process.