Plover Parametrics

The firm addresses the growing gap in coverage for risks like climate change, where traditional insurance models are often insufficient. Plover has developed a software-enabled brokerage model to accelerate the distribution of Excess and Surplus (E&S) lines coverages. The company's platform provides services such as data integration, parametric trigger design, risk analysis, and monitoring to insurance carriers, helping them design and manage new insurance products more efficiently. By doing so, Plover enables insurers to enter new risk markets and geographies. Its business model involves working with agents and brokers to offer these specialized parametric solutions to their clients, focusing on perils like wildfire, flood, and wind where traditional carriers are retracting coverage.

Plover Parametrics has also developed specific insurance products. One notable example is a parametric Directors and Officers (D&O) liability product, created in collaboration with CRC, which is triggered by a stock price drop followed by a securities class action filing. This product offers up to $2 million in limits with no deductible. In May 2025, the intellectual property and distribution rights for this specific product were acquired by Arch Insurance Company. The company has secured significant venture capital, with reports of raising between $4.82 million and $5 million to expand its brokerage team and invest in its software platform.