Bajaj Allianz General Insurance has unveiled ClimateSafe, India’s first-of-its-kind parametric insurance product offering instant protection against climate risks. Designed for retail customers, gig workers, office goers, and shop owners, ClimateSafe covers income loss and extra expenses triggered by extreme weather events like excessive rainfall, heatwaves, and cold waves.
The 100% digital product enables instant policy issuance, allows multiple purchases throughout the year, and offers automatic claim settlements within seven days without the need for customer intimation. Customers can self-select their location, weather risk, and insurance period, starting from as short as one day. Dynamic pricing based on real-time climate data ensures affordability and flexibility.
Dr. Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance, said, “Climate change is no longer a distant threat. ClimateSafe is our proactive solution to safeguard livelihoods from climate-related disruptions.”