Miller expands into parametric insurance market

Insurance broker Miller is set to expand into the parametric market with the launch of a new global team.

In a statement, Miller said its newly formed parametric team would focus on parametric insurance and bring “deep knowledge of the application of parametric structures across a range of industries and sectors”.

The broker aims to broaden the range of parametric triggers beyond natural catastrophes and explained that its focus would be on delivering a varied set of solutions customised to meet clients’ specific requirements and risk profiles.

Martin Henderson, head of energy and construction at the broker, said: “The formation of this specialised team underscores Miller’s ongoing commitment to innovation and client-centricity, allowing us to develop and implement cutting-edge parametric solutions tailored to meet the diverse needs of clients across various industries and geographic regions.”

Led by

The team, based in London, will be led by Alice Glenister, who will join the firm from Mastercard – where she was director of insurance.

Glenister will also bring her parametric underwriting experience from her time at Generali to the role.

She will be joined by Charlie Liddle from OneGlobal and Rowan Minhas from Miller.

Glenister said: “This is an exciting opportunity to expand on the parametric work Miller have been doing and I am delighted to be leading the formation of this dedicated global team

“Parametric insurance offers numerous advantages over traditional insurance products, including faster claims processing and greater transparency.

“Working across a range of sectors, we will be able to provide coverage for those risks that were once considered too complex or too difficult to insure, allowing Miller clients access to enhanced risk management capabilities.

“By harnessing the power of parametric solutions, Miller are poised to redefine the way their clients protect their assets and mitigate risks in an ever-changing world.”