What's The Gap? Basis Chance In The Age Of Parametric Insurance
Webinar

Webinar Recording

AkinovA is a neutral, regulated and digital first marketplace where capital can meet insurance and reinsurance risks directly, advised by data driven brokers and powered by insights from third party data and analytics providers. AkinovA is used to transfer indemnity re/insurance products but we see a real demand for parametric products. Parametric risk transfer is not new. It is typically used in insurance linked securities including catastrophe bonds and industry loss warranties. Those have been used to transfer risks between capital markets and the insurance sector over the last 25 years. But this is changing. An assortment of insured dissatisfaction with complex wordings, delayed payments, a need to create innovative products and underwriting capacity for risks which are not traditionally thought to be insurable, all mixed with a post pandemic world where viruses, whether digital or not, pose a clear and present danger, where intangible assets now make 4/5th of the value of most corporates without obvious ways to cover intangible risks all combine to become a powerful platform for change. Parametric risk transfers are spreading to SMEs, corporates and beyond.

In this presentation we will cover:

  • the basics of parametric vs indemnity products;
  • the basis risks/basis chance terms often put forward as issues with such products;
  • the rationale behind the need for both indemnity and parametric products right across the re/insurance and capital markets landscapes as investors seek a new source of alpha decorrelated or time shifted from capital markets movements;
  • if time permits, we will also explore how new data sources already enable new entrants operating on modern technology infrastructures to deliver new products and, in doing so, compete effectively with incumbents (or become M&A targets for incumbents where they seek to access new products more effectively).

Speaker:

Dr Henri Winand is a growth and change oriented CEO with a passion for scaling up a broad set of technologies globally using different business models and team-based delivery. He serves as CEO for AKINOVA Ltd, an insurance technology company he co-founded with a specialist insurance linked securities and related insurance products fund manager. Prior to this, Henri served as CEO of a British tech company listed on the London Stock Exchange Main Market (a $1bn tech IPO) with, over time, in excess of $250m raised from a broad range of sources, leading to strong top line growth, largely from internationally-based customers.

Henri has served on several Boards in the UK, Singapore, India, Japan and the US in the energy, software services, film contents publishing and automotive sectors. He also served on the Board of an EU funded €1bn+ public private tech partnership (PPP), served on several advisory bodies to Ministers, Secretaries of State and Officials in the new energy, automotive and materials science sectors in the UK as well as on the Alumni Advisory Board of the Warwick Business School and of the University of Cambridge.

He has more than a dozen patents granted and pending and several papers published in well-known, peer reviewed, scientific journals, topics including composite materials, neutron diffraction and processes to improve industrial product development cycles. Henri is regularly invited to speak at international conferences and spoke in the US Senate and French Sénat. He provides advice to selected major global institutional, venture capital and private equity funds. In addition to meeting several Heads of State including that of France, India and the UK over the last few years, he has made several appearances on live and recorded TV, and Radio programmes (e.g. Live CNBC TV, Live Bloomberg TV, Live BBC Radio 4 “The Today Programme”, recorded BBC and other programmes, provided thought leadership and quoted articles in broadsheets and digital publications).

Date
Tuesday, 12 January 2021

Time
11:00 - 11:45 GMT

Cost
N/A

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Speaker(s):
  • henriwinandred.jpg
    Dr Henri Winand
    Co-founder & CEO
    AkinovA
Chairman:
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    Professor Michael Mainelli
    Executive Chairman
    Z/Yen Group