Bajaj Allianz General Insurance Company has launched ClimateSafe, an innovative parametric insurance product offering instant, digital protection against climate risks. Aimed at retail customers, gig workers, delivery agents, shop owners, and home service professionals, ClimateSafe covers financial losses from extreme weather events including excessive rainfall, cold waves, and heatwaves.
The 100% digital product enables on-the-spot policy issuance with dynamic pricing based on real-time climate data. Customers can purchase multiple policies annually, select risk periods as short as one day, and benefit from automatic claim settlements within seven days — without needing to initiate a claim. The product covers a wide range of climate-induced disruptions, from commute delays to event cancellations and household damage.
Dr. Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance, stated, “ClimateSafe is a first-of-its-kind solution empowering individuals to manage the growing unpredictability caused by climate change.” With the city’s thriving retail and service economy often hit by climate disruptions, this affordable and hassle-free insurance option is expected to gain rapid traction among local shop owners, gig workers, and home residents.
