The new policy triggers financial relief when a set number of people are affected by extreme weather, and follows the rollout of a similar impact-based policy in Lao PDR in 2025.
Under the proposed model, channels that require greater involvement in customer onboarding, advice, and ongoing servicing are expected to attract relatively higher payouts.
The deal, subject to regulatory and other customary approvals, is structured to run at for least 10 years and aims to expand cyber risk capabilities and market growth for both the carrier and MGA.
