Vacation travel parametric insurance
Compensates part of a pre-booked holiday when it rains more than the agreed threshold during the traveller's stay.
Index, trigger and payout
Payout
How the cover works
What is measured, and when it pays.
- Risk covered
- Reduced value of a pre-booked holiday from excessive rainfall during the traveler's stay.
- Parametric trigger
- Daily precipitation over the traveler's stay window.
- Payout
- Predefined payout compensating the loss, sized on an 11-tier trigger scale.
- Index resolution
- Grid cell, per event
- Data and model
- Log-normal severity distribution — same actuarial basis as Event.
- Typically for
- Events, tourism & leisure
Weather family
Other weather covers.
Next step
Test the trigger on your own location.
We back-test the index at your site over its full history and come back with indicative terms, before anything is bound.