Risk modeling firm RMS launched Cat-in-a Box, a cloud-based app designed to provide a quick and graphical approach to make the underwriting of parametric catastrophe risk contracts easier. Come again. Parametric insurance is used to offer coverage for high intensity, low frequency losses, such as hurricanes and earthquakes, where claims payments aren’t based on actual losses but rather on parametric triggers Also referred to as the ‘pay now, argue later’ policy. Bottom Line: part of RMS’ Miu portfolio management platform. Never confused with Miu Miu.