Pitch a Parametric Flood Insurance Scheme for Port Harcourt Residents

Port Harcourt floods every year. Neighbourhoods like Rumuola, Diobu, and parts of Woji see homes and small businesses submerged for days at a time. Residents lose stock, equipment, furniture, and sometimes their entire means of livelihood. No insurer is knocking on their doors, and most residents would not know how to file a traditional insurance claim even if coverage existed. Parametric insurance offers a different approach. Instead of assessing individual losses after the fact, a parametric product pays a fixed amount when a measurable trigger, such as rainfall exceeding a threshold recorded at a specific gauge, is reached. This removes the adjuster visit, speeds up payouts, and makes coverage viable in areas where traditional underwriting is too expensive to operate. Your task is to produce a pitch deck (10-15 slides) for a parametric flood insurance product targeting households in one specific Port Harcourt neighbourhood of your choice. The deck should cover: the customer segment and their current coping strategies, the parametric trigger you propose and the data source you would use to verify it, the payout structure, the premium, and the distribution method. Include a brief risk section addressing basis risk (the chance the trigger fires but the customer suffered no loss, or vice versa). Strong submissions will engage seriously with the data question: where does rainfall data come from in Nigeria, how reliable is it, and what happens if the nearest gauge is broken? You do not need to have all the answers, but you need to show you have asked the right questions.