Blue Marble Microinsurance has partnered with MAPFRE to expand access to parametric insurance solutions in markets with significant protection gaps.
The collaboration brings together Blue Marble's expertise in product design and risk modelling with MAPFRE's local market knowledge and distribution capabilities to develop climate insurance products for underserved communities and businesses.
Expanding access to climate protection
The partnership will focus on developing parametric insurance solutions that use objective data and predefined triggers to enable faster claims payments following climate-related events.
Unlike traditional insurance, parametric products provide payouts when agreed trigger conditions are met, allowing policyholders to receive financial support more quickly after qualifying events.
Blue Marble said the collaboration is designed to improve access to climate risk protection in markets where insurance penetration remains low.
Strengthening financial resilience
By combining Blue Marble's product development and modelling capabilities with MAPFRE's local distribution network, the companies aim to broaden the availability of climate insurance while helping vulnerable communities and businesses strengthen their financial resilience.
The partnership reflects growing interest in parametric insurance as a tool for addressing climate-related risks and closing protection gaps in regions that remain underserved by traditional insurance products.
