FAQ · 18
Questions,
answered in numbers.
Sorted by what you’re deciding. Every answer uses the same demo storm, so you can follow one policy from quote to payment.
01
Basics
What do I actually buy?
A policy written in five numbers: an index, a location, a strike, an exit and a limit. When the reading in your cell crosses the strike, the policy pays a share of the limit; at the exit it pays all of it. There is no loss to prove, because the index is the measure.
What do I actually buy?
A policy written in five numbers: an index, a location, a strike, an exit and a limit. When the reading in your cell crosses the strike, the policy pays a share of the limit; at the exit it pays all of it. There is no loss to prove, because the index is the measure.
How is this different from a standard property policy?
A property policy pays for the damage a surveyor can document. A Tripline policy pays for a reading that an independent source can confirm. The first fits a slow, precise loss; the second fits a loss that is clear within hours and expensive if it waits. Many clients keep both and use the Tripline policy for cash in the first days.
How is this different from a standard property policy?
A property policy pays for the damage a surveyor can document. A Tripline policy pays for a reading that an independent source can confirm. The first fits a slow, precise loss; the second fits a loss that is clear within hours and expensive if it waits. Many clients keep both and use the Tripline policy for cash in the first days.
What is a cell?
A cell is a square of 10 by 10 kilometres on our grid, and it is the unit we measure. Your insured location belongs to exactly one cell, and the policy reads that cell and nothing else. The policy schedule shows the cell identifier, for example FL-0417, together with its latest reading.
What is a cell?
A cell is a square of 10 by 10 kilometres on our grid, and it is the unit we measure. Your insured location belongs to exactly one cell, and the policy reads that cell and nothing else. The policy schedule shows the cell identifier, for example FL-0417, together with its latest reading.
02
Triggers & data
What does "strike" mean?
The strike is the reading at which the policy starts to pay. For wind it can be 150 km/h, for rainfall 43 mm in six hours, for a flight 187 minutes. Below the strike, nothing is owed and nothing needs to be argued; at the strike, Tier 1 pays 25 % of the limit.
What does "strike" mean?
The strike is the reading at which the policy starts to pay. For wind it can be 150 km/h, for rainfall 43 mm in six hours, for a flight 187 minutes. Below the strike, nothing is owed and nothing needs to be argued; at the strike, Tier 1 pays 25 % of the limit.
Where do the readings come from?
From at least three kinds of source for each peril, for example ground stations, radar and satellite for wind. The Data page lists the sources used in this demo, some of them public programmes and some fictional. Every settlement note names the sources it used and the value each one gave.
Where do the readings come from?
From at least three kinds of source for each peril, for example ground stations, radar and satellite for wind. The Data page lists the sources used in this demo, some of them public programmes and some fictional. Every settlement note names the sources it used and the value each one gave.
What if two sources disagree?
The calculation agent signs a reading only when at least two of three sources land within a stated margin, for wind ±3 % (about 5 km/h at 171 km/h). If they do not, the policy falls back to the order written in your schedule, usually the nearest ground station, and the settlement note says so. You can always read the numbers that were compared.
What if two sources disagree?
The calculation agent signs a reading only when at least two of three sources land within a stated margin, for wind ±3 % (about 5 km/h at 171 km/h). If they do not, the policy falls back to the order written in your schedule, usually the nearest ground station, and the settlement note says so. You can always read the numbers that were compared.
03
Payouts
How long does a payment take?
In the demo storm, the peak happened in cell FL-0417 and the payment was recorded at T+41 h, which includes the time the storm needed to pass, the sources to settle and the transfer to clear. Policies state their own calculation window in the schedule. We give the window as a number of hours, not as a promise of speed.
How long does a payment take?
In the demo storm, the peak happened in cell FL-0417 and the payment was recorded at T+41 h, which includes the time the storm needed to pass, the sources to settle and the transfer to clear. Policies state their own calculation window in the schedule. We give the window as a number of hours, not as a promise of speed.
Do I have to file a claim?
No. If the index crosses the strike, we send the payment to the account on the schedule and a settlement note to the contacts you named. In the demo storm, 61 cells crossed the line and the number of claim forms filed was 0. You can still tell us about a loss in the Report an event page, but it never changes what the index pays.
Do I have to file a claim?
No. If the index crosses the strike, we send the payment to the account on the schedule and a settlement note to the contacts you named. In the demo storm, 61 cells crossed the line and the number of claim forms filed was 0. You can still tell us about a loss in the Report an event page, but it never changes what the index pays.
What happens between two tiers?
The ladder is a staircase, not a ramp. A reading of 171 km/h on a wind policy with tiers at 150, 168 and 189 km/h pays Tier 2, which is 50 % of the limit, and not an interpolated 54 %. The settlement note shows the next tier, so you can see how far the reading was from it.
What happens between two tiers?
The ladder is a staircase, not a ramp. A reading of 171 km/h on a wind policy with tiers at 150, 168 and 189 km/h pays Tier 2, which is 50 % of the limit, and not an interpolated 54 %. The settlement note shows the next tier, so you can see how far the reading was from it.
04
Prevention
What is a prevention alert?
A message sent to the contacts on your schedule when a forecast puts your cell on a path to cross a tier. It carries the cell, the forecast reading, your strike and a short list of what other operators usually do. In the demo storm, 214 policyholders were alerted 36 hours before landfall.
What is a prevention alert?
A message sent to the contacts on your schedule when a forecast puts your cell on a path to cross a tier. It carries the cell, the forecast reading, your strike and a short list of what other operators usually do. In the demo storm, 214 policyholders were alerted 36 hours before landfall.
Does acting on an alert change my premium or my payment?
It never changes a payment. It can lower your next premium: two logged actions in a policy year take 8 % off the renewal, whether the storm hit or not. Ignoring an alert never raises a premium. The alert is included in every policy because a payment helps less than a loss that did not happen.
Does acting on an alert change my premium or my payment?
It never changes a payment. It can lower your next premium: two logged actions in a policy year take 8 % off the renewal, whether the storm hit or not. Ignoring an alert never raises a premium. The alert is included in every policy because a payment helps less than a loss that did not happen.
How early can you warn me?
It depends on the peril. A named storm can be seen about 36 hours ahead, a river flood up to 72, a heat wave around seven days, a delayed flight a few hours, and an earthquake not at all. For earthquakes the notice follows the event within minutes and carries the checklist for the first hour.
How early can you warn me?
It depends on the peril. A named storm can be seen about 36 hours ahead, a river flood up to 72, a heat wave around seven days, a delayed flight a few hours, and an earthquake not at all. For earthquakes the notice follows the event within minutes and carries the checklist for the first hour.
05
Brokers
Can my clients buy through me?
Yes. Brokers place Tripline policies for their clients and keep the relationship: 12.5 % commission on every premium, renewals included, quotes by address inside your portal, and a settlement note for each client after every event. To start, use Become a broker on the Brokers page.
Can my clients buy through me?
Yes. Brokers place Tripline policies for their clients and keep the relationship: 12.5 % commission on every premium, renewals included, quotes by address inside your portal, and a settlement note for each client after every event. To start, use Become a broker on the Brokers page.
What does a broker see after an event?
A settlement note for each client, listing the cell, the three source values, the tier reached and the payment, at the same moment the client receives it. The same file is available as a PDF and as a CSV so it can be dropped into your own client report.
What does a broker see after an event?
A settlement note for each client, listing the cell, the three source values, the tier reached and the payment, at the same moment the client receives it. The same file is available as a PDF and as a CSV so it can be dropped into your own client report.
Can I write the policy wording myself?
The wording stays with the capacity partners, because they sign it. What you can change is the schedule: the locations, the strikes, the limits and the notification contacts. Anything beyond that goes through underwriting, and a request is answered with a yes, a no or a counter-offer in writing.
Can I write the policy wording myself?
The wording stays with the capacity partners, because they sign it. What you can change is the schedule: the locations, the strikes, the limits and the notification contacts. Anything beyond that goes through underwriting, and a request is answered with a yes, a no or a counter-offer in writing.
06
Pricing
How is the price set?
We replay ten to thirty years of readings for your cell against the strike and exit you choose, count how often each tier would have paid, and add our costs and a margin for capital. A lower strike pays more often and costs more. The quote shows the tier frequencies, so you can see what you are paying for.
How is the price set?
We replay ten to thirty years of readings for your cell against the strike and exit you choose, count how often each tier would have paid, and add our costs and a margin for capital. A lower strike pays more often and costs more. The quote shows the tier frequencies, so you can see what you are paying for.
What is basis risk, and can I see mine?
Basis risk is the gap between what the index pays and what you lose. Your site can be in a cell that stays under the strike while the next one is hit, or the other way round. Every quote includes a replay of past events against your records, and the Policy Disclosures page explains how to read it.
What is basis risk, and can I see mine?
Basis risk is the gap between what the index pays and what you lose. Your site can be in a cell that stays under the strike while the next one is hit, or the other way round. Every quote includes a replay of past events against your records, and the Policy Disclosures page explains how to read it.
Where does a dollar of premium go?
In the demo schedule, 61.4 cents covers expected payments, 13.2 cents buys reinsurance capacity, 11.7 cents funds data and the calculation agent, 8.3 cents pays distribution, and 5.4 cents is our margin. These numbers are illustrative; your quote shows the real split. No line is spent on a surveyor’s visit, because no surveyor is sent.
Where does a dollar of premium go?
In the demo schedule, 61.4 cents covers expected payments, 13.2 cents buys reinsurance capacity, 11.7 cents funds data and the calculation agent, 8.3 cents pays distribution, and 5.4 cents is our margin. These numbers are illustrative; your quote shows the real split. No line is spent on a surveyor’s visit, because no surveyor is sent.
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