Parametric cover and real-time claims: what P&C stacks must change

Parametric products pay on an event, not an adjuster’s judgment. That only works if policy, event feed, and payout sit on a path you can audit in hours, not weeks.

You do not always need a new PAS. You do need a claims event bus, a rules service the actuarial team can change, and a payment instruction that finance will accept without a manual journal.

Start with one peril and a small book. Prove the payout clock. Then talk about scaling. Carriers that reverse this order end up with a lab and an unchanged claims shop.