The first sensor-triggered earthquake coverage in the United States

Liberty Mutual Reinsurance (LM Re) and Safehub have partnered with the University of California (UC) to provide sensor-triggered parametric seismic coverage, marking the first coverage of its kind in the United States.

The policy uses 180 Safehub seismic sensors across the UCLA campus to trigger claims based on real-time data, providing improved accuracy compared to traditional parametric products. This reduces the risk of delayed payments and speeds up the claims process. The deal, brokered by Alliant and with additional support from Munich Re, aims to improve UCLA's earthquake preparedness and resilience.

“We are pleased to partner with Safehub to provide UCLA with sensor-based parametric earthquake coverage, providing unparalleled earthquake damage protection. Our goal is to expand our reach to provide policyholders around the world with this comprehensive solution, building on the success we have had in Mexico and the Caribbean – Jean-Christophe Garrix, Head of Agriculture and Educators at LM Re.

“Together with Liberty Mutual Re, we are excited to work with UCLA and its individual campuses to support earthquake recovery at these prestigious academic institutions.” – Andy Thompson, CEO, Safehub View the full company profile

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“Munich Re supports and drives innovation in parametric risk transfer around the world. Reducing fundamental risk using sensors in parametric insurance provides a strong value proposition. It is another step towards the increasing convergence between parametric and traditional insurance.” – Michael Roth, Practice Leader Public sector at Munich Re Capital Partners.

“UCLA is an organization built on innovation and continuous improvement. UCLA’s risk management team fully embraces this approach, and is always looking for new ways to innovate and improve its programs. By integrating sensors into Earthquake Insurance Mode, they have obtained important building data in Real time across all campuses and medical centers This is expected to reduce disaster recovery times and costs and enhance university resiliency – David Evans, Senior Vice President, Alliant Specialty.

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