![Parametric Insurance: A hopeful vision coming to life Parametric Insurance: A hopeful vision coming to life](/sites/default/files/styles/fullwidth/public/15023535677_20194bb58b_0.jpg?itok=vIDESkUh)
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Despite representing only a small portion of the total Property & Casualty market, parametric insurance has evolved rapidly in the last decade. This relatively new approach to insurance is index-based. At AXA, we believe that parametric insurance will continue to flourish in the future. Despite representing only a small portion of the total Property & Casualty market, parametric insurance has evolved rapidly in the last decade. This relatively new approach to insurance is index-based. For instance, in some geographies, claims could be paid out based on actual meteorological conditions measured