The platform aims to reduce friction in parametric trading by offering faster quote and bind times, real-time risk assessment, and automated payouts, ensuring claims are settled within 48 hours. It allows multiple carriers to co-insure parametric risks based on their individual risk appetite, with capacity allocated following Lloyd’s trading principles in a digital context.
Initially supporting extreme weather risks such as hurricanes, typhoons, and storms, the platform offers limits of up to $5 million per transaction. Future expansions will include earthquake coverage, higher limits, and enhanced data-driven risk insights. Yokahu is already working with leading data providers like Reask and major capacity providers.
CEO Tim McCosh emphasized that parametric insurance has long promised fast, reliable payouts, but inefficiencies have hindered adoption. Co-Founder Farid Tejani added, “This is about evolution, not revolution. Our platform enhances existing processes, making transactions smoother and payouts faster.”
By digitally connecting cedents with risk capital, Yokahu’s platform is expected to improve market accessibility, competition, and efficiency, reinforcing parametric insurance as a vital tool for climate resilience and disaster recovery.
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