Examining Community Needs for Reciprocal Parametric Insurance
Investigating how parametric insurance can provide much needed financial support in high risk U.S. regions.
Overview
This research investigates how parametric insurance models can be designed and implemented to better serve communities in high-risk regions of the United States. Traditional insurance often falls short in providing timely financial support after disasters, leaving vulnerable populations without the resources they need for recovery.
Research Questions
- How can parametric insurance be designed to meet the specific needs of high-risk communities?
- What are the key barriers to adoption of parametric insurance in residential contexts?
- How can we visualize predictive models in ways that build trust and understanding?
Methodology
This project employs participatory design methods to engage directly with community members in understanding their insurance needs and preferences. We combine qualitative interviews, co-design workshops, and prototype testing to develop insurance models that truly serve community needs.
Current Status
This research is ongoing. We are currently conducting community engagement sessions and developing visualization prototypes for parametric insurance concepts.