Rokstone is advancing the capabilities of parametric insurance with the launch of our new portfolio, powered by NormanMax, Lloyd’s Syndicate 3939 - the first syndicate to focus exclusively on natural catastrophe parametric reinsurance.
Starting with an initial $10m line size, this portfolio offers worldwide coverage for earthquakes, hurricanes, tropical cyclones and typhoons, with big plans for expansion into 2025. By merging our Rokstone expertise in parametric solutions with NormanMax’s capacity, we are making natural catastrophe coverage faster, smarter and more reliable for clients across the globe.
Addressing the Protection Gap with Precision
Traditional natural catastrophe insurance can be complicated, involving drawn-out claims processes when fast action is critical. Rokstone Parametric Insurance simplifies this. Instead of relying on a lengthy claims assessment, this approach uses predefined parameters - such as hurricane wind speeds or earthquake magnitudes, that trigger payouts quickly without the need to prove physical loss. This innovative model offers rapid financial liquidity, allowing clients to recover faster and address immediate needs following a disaster.
“Parametric insurance presents an important opportunity for brokers to close the protection gap left by limited capacity in the traditional market,” said Robin Ungless, Deputy Chief Underwriting Officer, Specialty at Rokstone. “At a time of rising climate risk and volatility, Parametric Insurance delivers a flexible, responsive solution built for speed and ready to provide liquidity when needed most.”
The Perfect Synergy
Why partner with NormanMax? For us, the answer is simple. Shared values and complementary strengths. Entrepreneurial in their approach to business, NormanMax is committed to delivering superior solutions for the natural catastrophe market. This pairs perfectly with our established parametric capabilities, particularly in Caribbean hurricane markets - through our sister MGA Aura Underwriting.
This partnership creates a powerful combination and is the natural next step in expanding our reach and bringing accessible parametric products to more markets than ever before.
As CEO of NormanMax Syndicate 3939 Bradley Meier put it, “We are delighted to partner with Rokstone. I believe that we are at the beginning of a global parametric insurance revolution. The ability to work with large, respected MGAs like Rokstone to provide worldwide access to parametric solutions, utilising both public and proprietary data, is an important step toward the mainstream adoptions of parametric products.”
Speed, Security and Simplicity
Quotes from Rokstone’s parametric portfolio are available the same day, if not immediately, with payouts on qualifying claims happening quickly. Backed by real-time climate monitoring and advanced data analytics, Rokstone’s collaboration with NormanMax will redefine what brokers can expect from parametric insurance.
Mark Groenheide, Chief Revenue Officer of NormanMax Insurance Solutions, said, “Parametric insurance is here to stay. While market conditions accelerated its growth, the speed and certainty it provides customers have made it an established tool in a brokers’ progressive portfolio of services.”
Excited to partner with Rokstone to distribute their products globally, Mark continued, “We are excited to reach many underserved markets that currently lack adequate natural catastrophe insurance solutions with the financial security of the Lloyd’s Market.”
Pioneering the Future of Catastrophe Insurance
Rokstone’s parametric portfolio represents the future of natural catastrophe protection - where technology, speed and financial security converge to offer brokers and clients unmatched value and resilience. Together with NormanMax, we can deliver rapid, reliable solutions to meet the evolving demands of a world defined by climate risk.
From brokers looking to expand their offerings to businesses needing agile protection, Rokstone’s parametric insurance portfolio is setting a new standard. Welcome to the future of disaster protection, brought to you by Rokstone, powered by NormanMax.
