Delivery & Logistics
All India Logistics, operating a fleet of trucks in India, procures parametric insurance to mitigate risks during the monsoon season. When heavy rainfall leads to flooding in key transportation routes, triggering the parametric insurance based on predefined parameters, All India Logistics swiftly receives a payout to cover financial losses incurred from delays
Who Can Benefit
- Logistics and Courier Services
- Retailers and E-commerce Platforms
- Food delivery companies
- Manufacturing Companies
- Importers & Exporters
- Agri Businesses and Food Producers
- Technology Delivery Services
Rainfall
Cyclone
Flood
Sample Policy
Payout is paid by mapping real-time routes to pre-defined grid points. If rainfall exceeds the threshold near the closest grid point to the truck’s location, a payout is made; payouts across grid points add up for the claim per route.
Coverage Terms
POLICYHOLDERAll India Logistics
LOCATIONIndia Wide
DATA SOURCETotal Precipitation, ECMWF ERA-5 Land (Geo Ref: Enroute Predefined Grid Points)
PAYOUT BASED ONPast 4 hours excess rainfall above a threshold, when near a grid point
COVERAGE PERIOD1st January to 31st December
PAYOUT LEVEL 14 hours cumulative 30mm-50mm rainfall pays ₹1,000 per grid point
PAYOUT LEVEL 24 hours cumulative 50mm-70mm rainfall pays ₹2,000 per grid point
PAYOUT LEVEL 34 hours cumulative >70mm rainfall pays ₹3,000 per grid point
MAXIMUM PAYOUT₹1,00,000 per truck per year
Payout Sheet
For illustration purposes, a sample of one cover is presented below. Generally, covers using multiple indices are offered for comprehensive coverage.
More products
Explore other parametric covers built for different risks and stakeholders.
