Italian insurer Revo is planning to expand its insurance portfolio by offering parametric covers through partnerships with consumer-facing brands and embedding them within specialty policies. The company revealed this strategy as part of its 2026-28 business plan.
Revo has recently partnered with several companies to offer innovative parametric insurance products. For instance, it has teamed up with utility firm Optima to protect customers against increased household energy consumption due to abnormal temperatures. Additionally, Revo is working with ADR Mobility, part of the Aeroporti di Roma group, to offer parametric flight delay and cancellation coverage to travelers booking airport parking spaces.
One of Revo’s earlier parametric insurance partnerships was with Spiagge.it, a beach resort management platform, where it provides automatic reimbursement for beach umbrella bookings if it rains. This partnership has been in place since 2022.
Beyond consumer-facing products, Revo is also embedding parametric covers into its specialty insurance offerings. For example, the company now provides property catastrophe insurance that complies with Italy’s new catastrophe insurance requirements. This includes parametric add-ons that allow businesses to receive quick payouts following earthquakes or floods, alongside traditional indemnity-based catastrophe insurance.
Revo’s chief underwriting officer, Simone Lazzaro, believes that Italy’s new catastrophe insurance laws will encourage businesses to opt for parametric coverage as they assess their insurance needs. The insurer is also including parametric natural catastrophe covers in its higher-tier commercial combined insurance products.
Revo, previously known as Elba Assicurazioni, was acquired in 2021 by a Special Purpose Acquisition Company (SPAC) founded by industry veterans. The SPAC aimed to make Revo a leader in parametric and specialty insurance for small and medium-sized businesses. In 2024, Revo’s gross written premiums reached 309 million euros, with its parametric business line contributing 400,000 euros. The company aims to exceed 550 million euros in premiums by 2028 under its current business plan.
