Royal HaskoningDHV Southern Africa and CelsiusPro have co-created a catastrophe risk model and parametric index for Mozambique. The index will help to quantify the impacts of tropical cyclones in the country. It will also be used to inform parametric insurance policies, which could improve the region’s financial resilience against tropical cyclones.
The catastrophe risk model is an open source, plug-and-play model that shows the hazard, exposure, vulnerability, impact, and parametric index for tropical cyclones in Mozambique. It can rapidly calculate the parametric index following a cyclone event, which can then be used to inform parametric insurance products.