The newly formed team will be exclusively dedicated to parametric insurance and bring an extensive knowledge of the application of parametrics across a wide range of industries and sectors, from more conventional natural catastrophe (nat cat) triggers to highly bespoke programmes such as reduction in yield, cyber downtime, and wind deficiency policies. Expanding the scope of triggers beyond nat cat, Miller will work to provide clients with a diverse range of solutions tailored to their specific needs and risk profile.

Based in London, the team will be led by Alice Glenister who joins from Mastercard where she was Director of Insurance, focusing on data-led and payment-led solutions to drive innovation across the parametric market. Alice also brings parametric underwriting experience from her time at Generali. She will be joined by Charlie Liddle, from OneGlobal, and Rowan Minhas from Miller.

Martin Henderson, Head of Energy & Construction, said: “I’m delighted to have Alice onboard to spearhead our work in this newly formed parametric division with the full support of Charlie and Rowan. 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.”

Alice Glenister commented: “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.”