Miller has launched a parametric insurance unit to be led by former Mastercard director Alice Glenister.
The segment will look to provide parametric solutions for a wide range of sectors and industries, from natural-disaster triggers to more specialist product such as reduction in yield, cyber downtime and wind deficiency policies.
Glenister was previously director of insurance at Mastercard. Prior to her two years there, she was a parametric underwriter for Generali.
The executive also spent just under eight years at Chaucer in various cat modelling and underwriting roles.
Miller has also hired Charlie Liddle, former associate at broker OneGlobal, to the team.
He is joined by Rowan Minhas, who joined Miller as an account handler last summer.
Miller head of energy and construction Martin Henderson 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.”
Glenister said: “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.”
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