Yokahu, a leading innovator in parametric insurance, has unveiled cat-risk.com, the first independent, many-to-many parametric exchange designed to revolutionize disaster risk finance within the London re/insurance market.
cat-risk.com aims to transform the traditionally slow and fragmented process of parametric insurance transactions by seamlessly connecting brokers, carriers, and data providers. This platform streamlines operations, significantly reducing friction and ensuring swift, transparent payouts when catastrophic events occur.
Built to complement the existing London market ecosystem, cat-risk.com dramatically cuts quote and bind times from days to minutes. The platform facilitates real-time risk assessment, pricing, and efficient capacity allocation, expanding the role of parametric (re)insurance in climate resilience and disaster preparedness.
A unique feature of cat-risk.com is its ability to allow multiple carriers to co-insure risks based on their individual risk appetites. Yokahu, acting as a Coverholder, manages each carrier’s portfolio separately and discreetly, allocating capacity using BiPar principles that reflect traditional Lloyd’s trading practices in a digital environment. This approach encourages more risk carriers to enter the parametric climate resilience market with smaller initial lines and reduced portfolio volatility.
Beyond transactional efficiency, cat-risk.com ensures rapid and transparent payouts to policyholders. By monitoring real-time weather data, automating policy triggers, and instantly presenting claims for carrier approval, the platform reduces claim payment times to as little as 48 hours.
At launch, cat-risk.com integrates with leading data providers such as ReAsk and is supported by multiple major capacity providers and top-tier brokers. The platform currently addresses extreme weather risks, including hurricanes, typhoons, and storms, with limits up to $5 million per transaction. Future expansions will include earthquake coverage, higher limits, and enhanced risk insights.
Tim McCosh, Founder & CEO of Yokahu, 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.”
Farid Tejani, Co-Founder of Yokahu, 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.”
