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MAPFRE has invested in Blue Marble, turning into the sixth member in a consortium devoted to providing insurance coverage options to “underserved” communities affected by local weather change.
The consortium, which additionally consists of Aspen, Grupo ASSA, Marsh McLennan, TransRe and Zurich Insurance coverage Group, collaborates with numerous stakeholders to mitigate the affect of local weather change on susceptible livelihoods.
Blue Marble, an insurtech firm established in 2015, specialises in parametric insurance coverage instruments for rising markets.
The corporate stated that its proprietary platform helps these instruments, facilitating scalability.
Blue Marble CEO Jaime de Piniés stated: “MAPFRE’s membership is a milestone in our tenth anniversary yr and a strong sign of the rising significance of local weather resilience.
“Over the previous decade, Blue Marble has proven how world insurance coverage companies, working collectively, can launch first-of-their-kind merchandise and convey safety to underserved communities worldwide. With MAPFRE becoming a member of, our means to scale these improvements and shut safety gaps turns into even stronger.”
All through its first ten years, Blue Marble has launched insurance coverage programmes throughout 16 nations.
These programmes purpose to reinforce the local weather resilience of smallholder farmers, labourers, and small and medium-sized enterprises (SMEs) in areas like Africa, Asia and Latin America.
MAPFRE RE CEO and Blue Marble board member for MAPFRE Miguel Rosa stated: “Becoming a member of Blue Marble is a pure extension of MAPFRE’s dedication to constructing resilience for communities going through the best local weather dangers. By combining our technical data and world presence with the consortium’s collaborative method, MAPFRE can scale revolutionary options the place they’re wanted most.”
In July, MAPFRE Re reached an settlement to license flood insights information from ICEYE.
The incorporation of ICEYE’s information is predicted to enhance MAPFRE Re’s capability to reply to flood occasions.
“MAPFRE invests in local weather insurer Blue Marble ” was initially created and printed by Life Insurance coverage Worldwide, a GlobalData owned model.
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