Yokahu, a leading innovator in parametric insurance, has introduced cat-risk.com, the first independent, many-to-many parametric exchange designed to revolutionise disaster risk finance within the London re/insurance market.
The launch of cat-risk.com addresses inefficiencies in the existing parametric insurance market, where transactions are often slow and fragmented, according to InsurTech Insights.
By introducing a digital-first approach, Yokahu aims to enhance accessibility, streamline operations, and improve disaster resilience through faster payouts.
Yokahu specialises in parametric insurance solutions, focusing on improving disaster risk management through innovative technology. By leveraging real-time data and automated processes, the company enhances financial preparedness for extreme weather events and natural disasters.
cat-risk.com is designed to connect brokers, carriers, and data providers in a seamless and efficient manner. The platform significantly reduces friction in parametric insurance transactions, cutting quote and bind times from days to minutes. It facilitates real-time risk assessment, pricing, and capacity allocation, strengthening the role of parametric insurance in climate resilience and disaster preparedness.
A standout feature of cat-risk.com is its many-to-many model, allowing multiple carriers to co-insure risks based on their specific risk appetites. Yokahu, acting as a Coverholder, manages each carrier’s portfolio individually while ensuring efficient capacity allocation. By leveraging BiPar principles, a digital representation of Lloyd’s trading practices, the platform encourages more carriers to enter the parametric climate resilience market with reduced risk exposure.
cat-risk.com also enhances payout efficiency by automating claims processing. The platform monitors real-time weather data and automatically triggers policies, ensuring claims are presented to carriers for approval within minutes. This system enables claim payments to be completed in as little as 48 hours, significantly improving disaster recovery efforts.
At launch, cat-risk.com integrates with leading data providers such as ReAsk and is supported by major capacity providers and top-tier brokers. The platform currently covers extreme weather risks, including hurricanes, typhoons, and storms, with transaction limits up to $5m. Future developments will expand coverage to include earthquakes, higher coverage limits, and enhanced risk insights.
Yokahu Founder & CEO Tim McCosh said, “Parametric insurance has long been heralded as a solution for fast, reliable disaster payouts, but inefficiencies in placement have hindered adoption. With cat-risk.com, we are delivering on the promise of parametric insurance – removing barriers, improving accessibility, and ensuring resilience in the face of growing climate and disaster risks.”
Yokahu Co-Founder Farid Tejani said, “This is about evolution, not revolution. cat-risk.com enhances the existing parametric insurance ecosystem, making transactions smoother, data integration stronger, and payouts faster. We believe this will help unlock the full potential of parametric insurance for businesses, governments, and communities worldwide.”
Yokahu CFO Carsten Wolheimer said, “cat-risk.com is an important step forward in combining financial markets expertise with innovative parametric risk transfer. By streamlining transactions and leveraging robust financial market principles, we are creating a more efficient, transparent, and scalable solution for disaster risk transfer, fully aligned with Yokahu’s vision for a digital insurance marketplace that delivers real impact.”
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