U.S. based general agency AIR Parametric, Inc. has announced expanded coverage options for its heat stress insurance product, Milkshake™, in 2025. Following a successful 2024 launch, the innovative parametric insurance solution will now be available to more distributing partners who recognize the significant risks heat stress poses to U.S. dairy and cattle producers.
“Listening to farmers and their insurance advisors is a key part of our product development,” said Jamie Luce, CEO and Co-Founder of AIR Parametric, Inc. “This broader coverage addresses more extreme heat events, further enhancing Milkshake’s value to dairy and cattle producers.”
Originally designed to protect farmers from prolonged seven-day heat stress events, the 2025 enhancements introduce options for shorter, more frequent three-day and five-day events. With three customizable trigger options, Milkshake™ provides flexible protection to meet a variety of risk management needs and budget considerations.
Leveraging AIR Parametric’s advanced weather data, engineering expertise, and machine learning capabilities, Milkshake™ tailors coverage to a customer’s precise location by identifying unique weather triggers. “Parametric insurance remains an underutilized tool for businesses looking to mitigate the growing risks of extreme temperatures and weather events,” said Ed Yorty, AIR Parametric investor and Head of Product. “This approach enables us to focus our technical expertise on creating solutions that truly address customer needs.”
With extreme weather placing increasing financial strain on businesses across all sectors, AIR Parametric collaborates with industry customers, specialized agents, and carrier partners to develop tailored risk management solutions. “When I ask customers how weather impacts their business, the answers are often surprising,” added Luce. “Traditional underwriting and product design don’t always account for the full financial risks of extreme weather. Events like excessive rainfall, persistent heat domes, or polar vortexes may not cause significant physical damage but can still lead to major financial losses.”
AIR Parametric remains committed to delivering innovative insurance solutions that help businesses safeguard against the growing challenges of extreme weather.
– ENDS – ]
Notes to editors:
About AIR Parametric
AIR Parametric is a specialty insurance provider delivering parametric insurance solutions for businesses affected by lost revenue due to extreme weather events. Our proprietary products and pricing models utilize leading weather data, geospatial and AI technologies, and 24/7 monitoring to ensure transparency and immediacy while dramatically simplifying the insurance process for customers and distribution partners.
For more information, visit www.airparametric.com or www.milkshakeins.com
About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the eighth largest global property and casualty insurer based on 2023 gross written premium. We also rank 87 on the Fortune 100 list of largest corporations in the US based on 2023 revenue. As of December 31, 2023, we had $49.4 billion in annual consolidated revenue.
We employ over 45,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.
About Guy Carpenter
Guy Carpenter, a business of Marsh McLennan (NYSE: MMC), is a leading global risk advisory and reinsurance specialist and broker. Marsh McLennan is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $23 billion and more than 85,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit guycarp.com, or follow on LinkedIn and X.
For questions please contact Jamie Luce.
