In a move responding to the growing need for climate risk protection, Bajaj Allianz General Insurance Company has introduced ClimateSafe, a 100% digital parametric insurance product. Designed for retail customers, gig workers, office goers, delivery agents, and shop owners, ClimateSafe offers coverage against financial losses caused by excessive rainfall, heatwaves, and cold waves.
Customers can buy multiple policies during the year, with risk periods starting from just one day. The product features dynamic pricing based on real-time climate data, automatic claims settlement within seven days without customer intimation, and minimal documentation. Coverage includes higher living expenses, commute disruptions, reduced sales, supply chain delays, event cancellations, and household damages caused by extreme weather.
Dr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance, emphasized that ClimateSafe is “a commitment to protect people from financial losses caused by climate-induced disruptions.” The city’s dense retail networks, service sector, and gig economy stand to benefit from this affordable, quick-response insurance solution, offering much-needed financial resilience amid increasing climate volatility.
