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Blue Marble partners with MAPFRE to expand parametric climate coverage
The partnership will use objective data and predefined triggers to support faster payouts after climate related events.
Blue Marble Microinsurance is partnering with MAPFRE to expand access to parametric climate insurance in markets with significant protection gaps, according to Coverager.
The collaboration combines Blue Marble’s product design and modeling capabilities with MAPFRE’s local market knowledge and distribution network, aiming to make climate protection more accessible while strengthening financial resilience for vulnerable communities and businesses.
The companies plan to build solutions that use objective data and predefined triggers, with the goal of enabling faster payouts following climate related events.
Coverager also notes that MAPFRE is working to extend low cost coverage alongside its parametric approach, including protection for illness, accidents, death, and homes and small businesses.