The insurance product compensates outdoor workers with small payouts or anti-heatwave kits when summer temperatures surpass 36°C for three days straight.
The parametric product, underwritten by Swiss Re and provided locally by ICICI Lombard, was triggered by 40°C heatwaves in May, paying out to 46,242 low-income women in India.
NFRA issued new guidelines to promote the development of inclusive insurance in China, focusing on broad coverage, affordability, fairness, and sustainability.
Insurtech partners with Zalopay, Lotte Finance, OPES, and FE Credit in Vietnam as it continues its goal to improve insurance accessibility and affordability across Southeast Asia.
