Don't let bad weather take you by surprise – insure against it!

A new generation of parametric insurance

Don't let bad weather take you by surprise – insure against it!

A new generation of parametric insurance

Ingenious parametric insurance against weather uncertainty

We offer new, revolutionary parametric insurance products based on machine learning solutions and real-time weather monitoring to offer fast, simple, digital weather insurances. Everything online with no physical damage assessment, claim paperwork, full transparency and immediate compensation payout

Products

bad weather

Travel

Protection against bad weather on holidays: rain, temperature, lack of snow etc.

tornado
Coming soon

Agriculture

Protection against destructive weather: spring ground frost, hailstorms, drought etc.

wind energy
Coming soon

Energy

Flexible solutions for renewables including lack or excess of rainfall, wind, or solar radiation

strond wind at construction site
Coming soon

Other

Our technology allows us to cover all weather sensitive industries such as transport or construction

Fast and simple, without paper and claim managers

Parametric insurance

weather event

Event occurs

An extreme weather event (e.g., rainfall, frost) occurs at a location covered by the insurance

confirmation

3rd party confirmation

Within an hour Climatica receives a confirmation of the event from an independent 3rd party collecting weather data

money payout

Compensation payout

Climatica transfers the pre-agreed amount to the insured without any additional formalities

Average time from event to payment:

~12h

Traditional insurance

event occurs

Event occurs

An extreme weather event (e.g., rainfall, frost) occurs at a location covered by the insurance

idnetify damage

Insured identifies damage

The insured needs to confirm that damage occured and obtain sufficient proof for the insurance company (e.g., pictures or receipts)

claim submit

Insured submits the claim

The damage has to be reported to the insurer, usually by filling out a form, providing a lot of details (policy number, personal details, damage description etc.) and attaching relevant documentation (e.g., pictures)

claim process

Company processes the claim

Insurance company registers the claim: verifies if the damage is covered by the policy, enters data to claim handling systems, starts claim processing workflow

validate

Adjuster assess the damage

A claim adjuster analyzes the submitted claim, contacts the customer in case data is missing or insufficient (e.g. unclear pictures) and calculates the compensation amount

money payout

Compensation payout

A transfer order is sent to accounting and the compensation is paid when the internal approval process is completed

renegotiate

Potential renegotiation

The insured may want to reopen the claim if he/she finds the adjuster's calculation to be inadequate. The process starts over

Average time from event to payment:

~3 weeks

Get started today!

For insurers

Want to create brand new, innovative parametric weather event insurance products for your customers? 

Get in touch

For distributors

Want to increase your revenue and expand your product offer for customers?

Get in touch