marcus-schmalbach
Marcus Schmalbach, RYSKEX
3 July 2020New Captive Models

RYSKEX boss forms Ten C’s to develop parametric pandemic coverage


A group of insurance industry executives has joined together to form Ten C’s, a startup that will develop parametric insurance for business interruptions and event cancellations due to pandemics and other systemic risks.

Ten C’s was formed by Marcus Schmalbach, chief executive at RYSKEX, along with Patrick Kelahan of H2M architects and engineers - also known as the Insurance Elephant - and Joerg Proeve, an insurance executive and advisor.

It cited the example of the All England Lawn Tennis Club as evidence of the need for a new approach to pandemic coverage. The club had pandemic insurance cover when it cancelled the Wimbledon tennis tournament, but has since been told the policy will not be renewed for 2021. Some insurers have called pandemic risk “uninsurable”.

Ten C’s said it is forming a global team of data scientists, artificial intelligence, blockchain, insurance and risk transfer experts to tackle this challenge.

It is set to join the Lloyd’s Lab Fusion programme from July 21 – 23 to collaborate with managing agents and major insurance carriers to advance its disaster response insurance solution.


More on this story

Analysis
29 April 2019   RYSKEX, an AI-driven hedging platform for emerging risk that bring together risk management, captive insurance units and institutional investors, is among the second cohort of 12 teams to join Lloyd’s Lab, the experimental development hub to explore ways to boost efficiencies at Lloyd’s of London.
Actuarial & underwriting
9 March 2020   Parametric insurance is the solution to the re/insurance industry’s problem with intangible assets, according to Marcus Schmalbach, the chief executive officer of RYSKEX.
New Captive Models
28 July 2020   RYSKEX has been named as the winner of the Lloyd’s Lab Fusion event, designed to test early-stage start-up ideas aimed at dealing with COVID-19 and other systemic risks.

More on this story

Analysis
29 April 2019   RYSKEX, an AI-driven hedging platform for emerging risk that bring together risk management, captive insurance units and institutional investors, is among the second cohort of 12 teams to join Lloyd’s Lab, the experimental development hub to explore ways to boost efficiencies at Lloyd’s of London.
Actuarial & underwriting
9 March 2020   Parametric insurance is the solution to the re/insurance industry’s problem with intangible assets, according to Marcus Schmalbach, the chief executive officer of RYSKEX.
New Captive Models
28 July 2020   RYSKEX has been named as the winner of the Lloyd’s Lab Fusion event, designed to test early-stage start-up ideas aimed at dealing with COVID-19 and other systemic risks.