Insurtech targets under-insured with blockchain, parametric

If you’re familiar with blockchain and parametric insurance what comes to mind is gadget insurance, flights, and the gig economy. Instead, Skyline Partners targets the under and uninsured markets for weather events. The London insurtech’s first initiative will be a weather catastrophe insurance product for Indian tea farmers which will launch in the first half of 2019.

The protection gap

According to Swiss Re Institute in the last ten years, only 30% of catastrophe losses were insured. That means 70% ($1.3 trillion) is not covered and those losses are borne by individuals, business, and governments.

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