Advanced Risk Advisory

Parametric Insurance for Trade & Cargo Risks

Protect your supply chain with trigger-based coverage for transit delays, weather disruptions, and cargo risks.

Traditional insurance requires proof of loss and lengthy claims processes. Parametric insurance uses objective triggers—like rainfall levels, port closure days, or temperature thresholds—to provide automatic payouts when predefined conditions occur. This innovative approach protects your trade operations, cash flow, and contractual commitments with unprecedented speed and transparency.

Trigger-Based Design

Structured coverage based on objective parameters like weather data, port statistics, or transit metrics.

Rapid Payouts

Automatic settlements triggered by verified data, eliminating lengthy loss assessment delays.

Claims Support & Servicing

Dedicated guidance during trigger validation with audit-friendly documentation.

Get Parametric Insurance options for your Trade Business
By clicking Continue, you agree to receive advisory communication from RiskBirbal. This is an educational interaction and does not guarantee policy issuance or claim approval.

Why Parametric Insurance Matters for Your Trade Business

Traditional insurance often fails to address modern supply chain risks where proving actual financial loss is complex, time-consuming, and disputed. Parametric insurance bridges this gap by using objective, verifiable triggers—like weather data, port closure days, or transit delays—to provide automatic, fast payouts. This ensures your business maintains cash flow during disruptions without lengthy claims processes.

RISK 01
Supply Chain Disruption
Port closures, excessive rainfall, or extreme temperatures can halt cargo movement, delay deliveries, and disrupt production schedules.
RISK 02
Cash Flow Uncertainty
Traditional claims take months to settle, creating liquidity gaps when you need funds most to manage operational disruptions.
RISK 03
Contractual Penalties & LC Complications
Delays in shipments can trigger penalties under trade contracts or complicate Letter of Credit terms, affecting business relationships.
RISK 04
Weather & Climate Vulnerabilities
Unpredictable rainfall, floods, or temperature extremes can damage perishable goods or make transportation routes impassable.

Benefits

Rapid, Transparent Payouts

Automatic settlements triggered by objective data, eliminating lengthy loss assessment and disputes.

Enhanced Cash Flow Management

Provides predictable, timely liquidity when predefined triggers occur, helping maintain business operations.

Objective Risk Transfer

Transfers hard-to-insure risks like weather disruptions or transit delays using verifiable third-party data.

Simplified Claims Process

No need to prove actual financial loss—payouts are based solely on trigger parameters being met.

This information is for educational purposes only. Coverage terms vary based on insurer, policy wording, and underwriting assessment.

What is Parametric Insurance?

Parametric Insurance is an innovative insurance product that pays out a predetermined amount when a specific, objectively measurable trigger event occurs—such as rainfall exceeding a threshold, port closure for defined days, or temperature reaching certain levels. Unlike traditional insurance that requires proof of actual loss, parametric insurance focuses on the occurrence of the triggering event itself, enabling faster, more transparent settlements.

Trigger-Based Protection

Coverage activates when predefined, objective parameters (like weather data or port statistics) reach specified thresholds.

Fast, Automated Payouts

Claims are settled automatically based on trigger verification, eliminating lengthy loss assessment processes.

Data-Driven Design

Uses reliable third-party data sources (weather stations, port authorities, etc.) to determine trigger events transparently.

Customisable Triggers

Triggers can be tailored to specific business risks—from rainfall affecting agriculture to port delays impacting logistics.

What It Does Not Do (Boundary Clarity)

  • Parametric Insurance does not cover actual financial loss beyond the predefined payout amount.
  • It does not require or consider proof of individual loss—payout is based solely on trigger occurrence.
  • It does not replace traditional insurance for physical damage but complements it for specific parameter-based risks.

In One Line

Parametric Insurance provides automatic, transparent payouts when predefined objective triggers occur, covering hard-to-insure risks like weather disruptions or transit delays.

This explanation is for educational purposes only. Actual coverage specifics depend on insurer wording, policy terms, endorsements, and underwriting assessment.

RiskBirbal's Insight: What Usually Goes Wrong in Parametric Insurance

While parametric insurance offers speed and transparency, its effectiveness depends entirely on precise trigger design and data reliability. Businesses often underestimate the complexity of aligning triggers with actual exposures or face disputes over data sources. RiskBirbal identifies these pitfalls early, ensuring your parametric coverage delivers real protection, not just theoretical payouts.

1

Misaligned Triggers & Actual Exposure

Triggers that don't accurately correlate with business losses result in payouts when no real loss occurs, or no payout when loss happens.

2

Unreliable or Disputed Data Sources

Dependence on single data sources or sources with measurement gaps leads to disputes over whether triggers were actually met.

3

Inadequate Payout Structure

Flat payouts that don't scale with severity of the trigger event fail to provide meaningful financial protection during major disruptions.

4

Contractual Ambiguities

Vague definitions of triggers, measurement methodologies, or payout conditions create room for interpretation and disputes.

How RiskBirbal Prevents These Issues

Exposure-Trigger Correlation Analysis

We analyze historical business data against potential triggers to ensure strong correlation between trigger events and actual losses.

Multi-Source Data Validation

We specify multiple reliable data sources and verification mechanisms to minimize disputes over trigger occurrence.

Graded Payout Structures

We design payout scales that increase with trigger severity, ensuring meaningful protection for significant events.

Precise Contractual Language

We ensure unambiguous definitions of triggers, measurement standards, and payout conditions in policy wording.

RiskBirbal Signature Approach

Our hybrid "Tech + Human" model ensures:

RBIQ Data Correlation Engine

RBIQ analyzes historical exposure data against potential triggers before structuring coverage.

Data Source Due Diligence

Comprehensive vetting of data providers for reliability, transparency, and dispute resolution mechanisms.

Trigger Validation Framework

Structured processes for ongoing trigger monitoring and automatic payout verification.

Preventive Advisory

Proactive identification of basis risk and design flaws before policy finalization.

This section is advisory in nature. Actual coverage and claim outcomes depend on insurer policy wording, trigger definitions, and data source reliability.

What Does Parametric Insurance Cover?

Parametric Insurance covers predefined risks through objective, measurable triggers rather than actual loss assessment. Coverage is activated when specific parameter thresholds are met, providing automatic payouts that help businesses manage disruptions to cash flow and operations. While triggers can be customized, most parametric policies follow established structures for common trade and logistics risks.

Visual representation of parametric triggers: weather data, port statistics, temperature readings triggering insurance coverage

Coverage Structures

Rainfall & Weather Disruption

Triggers when rainfall exceeds defined thresholds at specified weather stations, covering agricultural losses, logistics delays, or event cancellations.

Port Closure & Delay

Activates when major ports close for predefined consecutive days due to weather, strikes, or other disruptions, covering associated supply chain costs.

Temperature Extremes

Triggers when temperatures fall below or rise above specified thresholds, protecting perishable goods, energy consumption, or operational efficiency.

Transit Route Disruption

Covers when key transportation routes (shipping lanes, rail corridors) are officially closed for predefined periods due to weather or political events.

Wind Speed & Cyclone

Activates when wind speeds exceed defined thresholds at designated measurement points, covering business interruptions and preparation costs.

Event Cancellation & Delay

Triggers when major events (exhibitions, conferences, sports) are cancelled or delayed due to predefined causes, covering associated financial losses.

Extended Protection (Add-Ons)

  • Graded payout scales (increasing with trigger severity)
  • Alternative data source verification
  • Multi-location trigger aggregation
  • Extended trigger observation periods
  • Data audit and verification services
  • Currency fluctuation protection
  • Basis risk coverage (gap between trigger and actual loss)

Boundary Clarity

Coverage applies only when precisely defined triggers are met—close is not enough.

Payout amounts are predetermined and not based on actual financial loss experienced.

Data source reliability and measurement methodology are critical—disputes can arise.

Insurer-specific definitions govern trigger activation and payout calculations.

This coverage summary is for educational purposes only. Actual coverage depends on insurer terms, conditions, and underwriting assessment. Always refer to the specific policy wording for complete details.
Illustration showing common parametric exclusions: data discrepancies, trigger thresholds not met, basis risk

What Parametric Insurance Does Not Cover (Important Exclusions)

Parametric Insurance provides innovative coverage through objective triggers, but it also has specific limitations and exclusions. Understanding these boundaries is essential to ensure realistic expectations and to complement parametric coverage with traditional insurance where needed.

Basis Risk (Trigger-Loss Mismatch)

Does not cover losses that occur without trigger activation, or trigger activation without actual loss (basis risk).

Data Source Failures

Excludes losses arising from data source inaccuracies, measurement errors, or unavailability of trigger data.

Threshold Proximity (Close But Not Met)

Does not provide partial payouts if triggers come close but don't exactly meet predefined thresholds.

Historical Data Revisions

Excludes claims based on subsequently revised historical data—triggers are based on data available at activation time.

Geographic Mismatch

Trigger measured at wrong location (even if nearby) generally does not activate coverage unless specifically included.

Contractual Interpretation Disputes

Excludes losses from disagreements over trigger definitions, measurement methodologies, or payout calculations.

Grey Areas (Common Dispute Zones)

These areas often lead to disagreements due to the technical nature of parametric triggers and data interpretation.

1

Data Source Substitution

When primary data source fails, whether alternative sources are acceptable and how they should be calibrated.

2

Trigger Measurement Timing

Disagreements over exactly when measurements should be taken (hourly, daily averages, peak readings) and time zones.

3

Calibration & Index Construction

How composite indices are calculated, weighted, and whether methodology changes during policy period affect triggers.

4

Force Majeure vs. Parametric Trigger

Overlap with traditional force majeure clauses and whether parametric payout affects other contractual remedies.

RiskBirbal Advisory Value

RiskBirbal proactively addresses parametric insurance complexities through:

Precise trigger definition with multiple fallback data sources

Clear contractual language on measurement methodologies

Basis risk analysis to identify coverage gaps

Ongoing data monitoring and trigger verification protocols

Boundary Clarity

These limitations are inherent to parametric structures.

Careful design can mitigate but not eliminate all exclusions.

Parametric should complement, not replace, traditional insurance.

This exclusion summary is for educational purposes only. Actual exclusions depend on insurer terms, policy wording, and underwriting requirements. Always refer to the insurer-issued document for full exclusions.

Enhance Your Protection With Add-On Covers

Parametric Insurance can be customized with specialized add-ons that address specific business needs, data reliability concerns, and payout structures. These enhancements ensure your parametric coverage aligns precisely with your risk profile and provides meaningful financial protection.

Visual showing enhanced parametric protection with layered triggers and data verification

Data & Verification Enhancements

Multi-Source Data Verification

Uses multiple independent data sources to verify triggers, reducing disputes and single-point failures.

Satellite & Remote Sensing Data

Incorporates satellite imagery or remote sensing data for triggers in areas with limited ground measurement.

Payout Structure Enhancements

Graded Payout Scales

Payouts increase with trigger severity (e.g., more rainfall = higher payout) rather than binary triggers.

Accumulation Periods

Triggers based on accumulated measurements over time (e.g., total rainfall over 30 days) rather than single events.

Layered Trigger Structures

Multiple triggers must be met (e.g., port closure AND high winds) for payout, reducing basis risk.

Risk Transfer Enhancements

Basis Risk Coverage

Partial coverage for losses that occur without trigger activation (reducing basis risk exposure).

Multi-Peril Aggregation

Combines multiple perils (rain + wind + temperature) into composite trigger indices.

Geographic Basket Triggers

Triggers based on measurements across multiple locations, covering dispersed operations.

Extended Observation Windows

Longer periods to verify trigger occurrence, accommodating data latency or verification needs.

Contractual & Financial Enhancements

Payout Certainty Enhancements

Guarantees payout timing (e.g., within 30 days of trigger verification) with penalties for delays.

Currency Risk Mitigation

Payouts in preferred currency or with exchange rate protections for international trade.

Index Transparency Reporting

Regular reports on trigger index values and near-miss events for better risk management.

When Do These Add-Ons Matter? (Advisory Guidance)

This block should educate businesses using simple, scenario-driven examples:

If you're in agriculture → Multi-source data verification prevents disputes over rainfall measurements.

If you ship perishable goods → Temperature triggers with graded payouts match loss severity.

If you have multiple locations → Geographic basket triggers cover your entire operation.

If you trade internationally → Currency risk mitigation protects against exchange rate fluctuations.

If you have complex supply chains → Layered trigger structures reduce false positives.

RiskBirbal Advisory Value

  • Historical Data Analysis
  • Trigger Correlation Assessment
  • Data Source Reliability
  • Basis Risk Quantification
  • Payout Structure Optimization
  • Contractual Precision
  • Integration with Traditional Coverage

Based on this, RBIQ suggests relevant add-ons automatically during the quotation journey.

This information is for educational purposes only. Add-on availability, definitions, and terms vary by insurer, underwriting guidelines, and policy wording.
Image showing diverse businesses like agriculture, logistics, events, and energy benefiting from parametric insurance

Who Should Consider Parametric Insurance?

Parametric Insurance is ideal for businesses facing risks that are measurable, correlated with objective parameters, and where traditional insurance falls short due to complexity, cost, or claims delays. It's particularly valuable for industries where rapid cash flow protection during disruptions is critical to business continuity.

Business Categories That Benefit from Parametric Insurance

01

Agriculture & Agri-Business

Protection against rainfall deficits, excessive rain, temperature extremes, or specific weather events affecting crops.

02

Logistics & Transportation

Coverage for port closures, shipping lane disruptions, or extreme weather delaying cargo movements.

03

Event Management & Tourism

Protection against event cancellations or significant attendance drops due to weather or other measurable disruptions.

04

Renewable Energy

Coverage for wind speed shortfalls (wind farms), sunlight deficits (solar), or temperature affecting energy production.

05

Commodity Traders & Processors

Protection against weather events affecting commodity quality, availability, or transportation.

06

Construction & Infrastructure

Coverage for weather-related project delays (excessive rainfall days, temperature extremes).

Operational Triggers Where Parametric Insurance Is Critical

  • If your business is highly sensitive to specific weather parameters
  • If you need rapid liquidity following disruptions to maintain operations
  • If traditional insurance is unavailable, too costly, or claims are too slow
  • If you have data showing clear correlation between parameters and losses
  • If you need transparent, objective coverage for contractual or stakeholder assurance

Special Scenarios Where Parametric Insurance Becomes Strategic

  • Supply chain finance and trade credit enhancement
  • Project finance requirements for risk mitigation
  • Contractual risk transfer to counterparties
  • ESG and sustainability-linked financing
  • Catastrophe risk layers complementing traditional programs

RiskBirbal Advisory Value

RiskBirbal guides businesses in understanding whether Parametric Insurance is appropriate by evaluating:

Parameter-Loss Correlation
Data Availability & Quality
Basis Risk Tolerance
Cash Flow Protection Needs
Claims Speed Requirements
Existing Coverage Gaps
Contractual & Regulatory Context

The RBIQ engine uses these inputs to determine if parametric solutions are viable, optimal, or should be combined with traditional coverage.

This information is for educational purposes only. Add-on availability, definitions, and terms vary by insurer, underwriting guidelines, and policy wording.

How Your Journey Continues

This block summarises the seamless continuation of your buying process:

1
Proceed to the Parametric Product Variant Selection Page
2
Choose your trigger structure (Rainfall, Temperature, Port Closure, etc.)
3
Fill in necessary details for accurate parametric structuring
4
Receive structured proposals from specialized insurers
5
Compare trigger definitions, data sources, payouts, and pricing
6
Finalise the best-fit parametric structure with advisory support

How Parametric Insurance Works With RiskBirbal

Implementing Parametric Insurance requires specialized expertise in trigger design, data verification, and risk structuring. RiskBirbal's ecosystem combines technical parametric knowledge with insurer relationships to deliver tailored, effective parametric solutions for your business.

1

Share Risk Profile & Objectives

Provide details about your business, specific risks, data availability, and financial protection goals.

2

Proceed to Parametric Structure Design

You will move to the next page where we help design optimal triggers, data sources, and payout structures.

3

RBIQ Prepares Technical Specifications

Our engine analyzes historical data, correlates parameters with losses, and prepares insurer-ready parametric specifications.

4

Specialist Insurers Review & Quote

Parametric specialists receive clear technical specs and respond with structured trigger-based proposals.

5

Expert Comparison & Advisory

RiskBirbal evaluates parametric structures, identifies basis risks, and prepares clear comparisons with recommendations.

6

Finalisation & Policy Issuance

Once structured, we coordinate issuance, data verification protocols, and integration with your risk management.

Post-Purchase Support

Trigger Monitoring

We monitor trigger parameters and provide alerts when thresholds are approached or breached.

Payout Facilitation

We facilitate rapid payout processes when triggers are met, coordinating data verification and settlements.

Performance Analytics

Regular reports on trigger performance, near-miss events, and basis risk analysis for program optimization.

Types of Parametric Insurance in India

Explore different parametric insurance structures available in India, designed to protect businesses against measurable, trigger-based risks.

Weather Index Insurance

Covers agricultural, energy, or event risks based on rainfall, temperature, humidity, or wind speed measurements from designated weather stations.

Primary Use Agriculture & Energy

Port Closure & Delay Insurance

Provides payouts when major Indian or international ports officially close for predefined consecutive days, covering supply chain disruptions.

Primary Use Logistics & Trade

Catastrophe Bond Triggers

Parametric structures for catastrophic events like earthquakes or cyclones, using seismic measurements or wind speed data for automatic payouts.

Primary Use Catastrophe Risk

Custom Parametric Solutions

Bespoke parametric structures for specific business risks—from renewable energy output shortfalls to construction delay triggers.

Coverage Type Specialized Business Risks

Our Insurance Partners

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Claims Support & Claim Readiness With RiskBirbal

While parametric insurance promises automatic payouts, successful claims depend on precise trigger verification, data source reliability, and proper documentation. RiskBirbal's parametric claims framework ensures your triggers are properly monitored, verified, and settled promptly, while maintaining transparency and auditability throughout the process.

What To Do When Trigger Thresholds Are Approached

1

Monitor Trigger Parameters

Use RiskBirbal's monitoring tools or designated data sources to track parameters as they approach trigger thresholds.

2

Notify RiskBirbal Parametric Desk

Alert our team when thresholds are neared so we can initiate verification protocols and prepare documentation.

3

Verify Data Source Integrity

Ensure designated data sources are functioning correctly and capture the trigger event as defined in the policy.

4

Document Independent Verification

Gather supplementary evidence (news reports, official notices) supporting the trigger occurrence for dispute prevention.

Documents Typically Required

  • Original parametric policy copy
  • Official data source reports (weather bureau, port authority)
  • Alternative data verification (satellite, news reports)
  • Trigger calculation worksheets
  • Date/time stamps of trigger occurrence
  • Location verification of measurement points
  • - Payout calculation as per policy formula
  • Data source reliability certifications

How RiskBirbal Supports Parametric Claims

Trigger Monitoring & Alerts

We monitor designated data sources and alert you when triggers are approached or breached.

Data Verification

We verify trigger data from multiple sources and ensure it meets policy definitions.

Payout Calculation

We calculate exact payouts based on policy formulas and trigger severity.

Dispute Resolution

We mediate any disputes over data interpretation, measurement methodologies, or payout calculations.

Rapid Settlement Facilitation

We expedite the payout process once triggers are verified, aiming for the fastest possible settlement.

Common Claim Challenges & Prevention

Data Source Discrepancies

Pre-specified multiple data sources with hierarchy for verification.

Measurement Methodology Disputes

Clear definitions of measurement units, timing, and location in policy.

Basis Risk Realization

Comprehensive correlation analysis during policy design phase.

Delayed Payout Despite Automation

Contractual payout timing guarantees with penalties for delays.

RiskBirbal Parametric Philosophy

We believe parametric insurance succeeds when triggers are perfectly correlated with business losses, data sources are beyond dispute, and settlements are truly automatic. Our advisory focuses on designing robust parametric structures that deliver real financial protection, not just theoretical payouts.

Parametric Insurance – Frequently Asked Questions (FAQs)

These FAQs address the most important questions businesses ask when evaluating Parametric Insurance. Each answer is simplified for easy understanding while maintaining technical accuracy.

All Questions
Coverage
Claims
Pricing
Data & Triggers
1

What does Parametric Insurance cover?

Parametric Insurance covers predefined risks through objective triggers (like rainfall levels, port closure days, temperature thresholds) rather than actual loss assessment. It provides automatic payouts when triggers are met, regardless of individual financial loss.

2

How are triggers determined in Parametric Insurance?

Triggers are determined based on historical data analysis, business exposure correlation, and data availability. They must be objectively measurable, verifiable through reliable third-party sources, and strongly correlated with the business losses being covered.

3

What is "basis risk" in Parametric Insurance?

Basis risk is the mismatch between trigger occurrence and actual financial loss. It occurs when the trigger activates without significant loss (overpayment risk) or when loss occurs without trigger activation (underpayment risk). Careful trigger design minimizes basis risk.

4

How fast are parametric insurance payouts?

Typically within 30-60 days of trigger verification, significantly faster than traditional insurance claims. Some policies guarantee payouts within specified periods (e.g., 30 days) once data is verified.

5

What happens if data sources disagree or fail?

Well-structured parametric policies specify multiple data sources with a hierarchy for verification. If primary sources fail, predetermined alternative sources are used. Dispute resolution mechanisms are typically defined in the policy.

6

Can Parametric Insurance replace traditional insurance?

Usually not. Parametric insurance complements traditional coverage by addressing risks that are hard to insure conventionally (like weather disruptions) or where rapid payouts are critical. It's best used alongside traditional insurance for comprehensive protection.

7

How is parametric insurance premium calculated?

Premiums are based on historical trigger frequency, payout amounts, data reliability, basis risk, and insurer capital requirements. Unlike traditional insurance, premiums aren't based on individual loss history but on statistical trigger probabilities.

8

What industries benefit most from parametric insurance?

Agriculture, renewable energy, logistics, event management, construction, and commodity trading benefit significantly. Any business with measurable risks correlated to objective parameters can potentially use parametric solutions.

9

How does RiskBirbal help with parametric claims?

We monitor triggers, verify data from multiple sources, calculate payouts, facilitate rapid settlements, and mediate any disputes. We ensure the parametric structure works as intended when triggers occur.

10

What data is needed to structure parametric coverage?

Historical parameter data (weather, port operations, etc.), business loss data correlated to parameters, preferred data sources, and financial protection objectives. More data improves trigger design and reduces basis risk.

11

Can parametric triggers be customized for my business?

Yes, parametric structures can be highly customized. Triggers can combine multiple parameters, use specific measurement locations, incorporate business-specific indices, and have graded payout scales matching your risk profile.

12

Is parametric insurance regulated in India?

Yes, parametric insurance products are regulated by IRDAI. They must comply with insurance regulations, though specific guidelines for parametric structures are still evolving as the market develops.

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These FAQs are for educational purposes only. Insurance coverage, claims, and terms depend on insurer policy wording, underwriting requirements, and regulatory guidelines.

The RiskBirbal Ecosystem: One Connected Insurance Operating System

Every policy, quotation, claim, and servicing request inside RiskBirbal is powered by a unified ecosystem designed to integrate advisory expertise, underwriting accuracy, digital platforms, automation, lifecycle management, and claims intelligence. This ecosystem ensures that your business experiences insurance as a continuous, structured journey—not fragmented transactions.

Purpose of the RiskBirbal Ecosystem

The RiskBirbal ecosystem acts as the central brain that aligns strategy, technology, underwriting logic, insurer communication, documentation standards, and client workflows. It is built for:

Insurer Partners

Structured communication, complete documentation, standardised processes

Corporate Risk Managers

Integrated advisory, technology platforms, lifecycle management

Internal Teams

Underwriting, operations, CRM, servicing with structured tools

Technology Teams

Product, Policies, Claims, Documentations, Relationships on unified system.

Its purpose is to ensure one unified version of truth across all interactions and all insurance products.

The Seven Governing Principles

Hybrid Tech + Human Excellence

Technology enhances capability; advisory expertise ensures correctness.

Single Customer Identity

All platforms sync into one central client profile.

Unified UI/UX Framework

A consistent design system across all portals ensures user familiarity.

Integrated Advisory + Technology Model

Insurance buying, risk management, and digital platforms operate as a unified suite.

Deep Automation Across the Lifecycle

Automation powers quoting, servicing, follow-ups, and documentation.

Enterprise-Grade Documentation & Compliance

Insured-friendly processes ensure auditability and transparency.

What the Ecosystem Includes (Platform Map)

Quotation & Advisory Layer

  • RBIQ: India's intelligent RFQ and quotation automation engine
  • Corporate buying journeys
  • Parametric, Marine, Fire, Liability
  • EB, Engineering products

Servicing & Lifecycle Management

  • Operational CRM
  • Portfolio CRM
  • Surveyor integration
  • Claims workflow

Employee & Retail

  • Wellconnect (HR, employees, claims, endorsements)
  • Corporate VAS benefits
  • Retail Motor, Life, Health
  • Travel platforms

NBFC & Special Programs

  • NBFC platform (CD balance, issuance, finance reconciliation)
  • CFA/Logistics Rapid Marine Booking
  • CAR/EAR Contractor Engineering Program
  • Fleet Insurance Program
  • POSP (RBOne) agent platform

Insights & Intelligence

  • RiskMantra predictive risk analytics
  • Parametric Trigger Design Engine
  • AI-driven follow-up engine
  • WhatsApp/email automation

The Four Ecosystem Layers

1

Customer Layer

Corporates, SMEs, contractors, NBFC branches, employees, and retail customers interact through intuitive journeys.

2

Internal Operations Layer

Underwriters, claims teams, servicing executives, finance, RMs, PMT teams, and CRM workflows operate with structured, standardised tools.

3

Technology Layer

RBIQ, CRM, Wellconnect, NBFC portal, Retail portal, and RiskMantra are interconnected systems powered by uniform design and data logic.

4

Insurer Integration Layer

APIs, structured email RFQs, U/W frameworks, risk input templates, and documentation pipelines ensure insurer-friendly interactions.

RiskBirbal's ecosystem ensures that every policy issued, every quote prepared, and every claim handled follows a consistent, structured, and data-driven methodology. This creates a long-term, measurable, and reliable insurance experience for your organisation.

Your Complete Parametric Insurance Solution

Backed by Advisory + Technology + Data Expertise

You now have a complete understanding of how Parametric Insurance protects your business through objective triggers, rapid payouts, and transparent structures. Before you move forward, here is a quick snapshot of why choosing RiskBirbal ensures a sophisticated and effective parametric insurance journey.

What you get with Parametric Insurance

Rapid, Automatic Payouts

Receive settlements within days or weeks (not months) when predefined triggers are met, without lengthy loss assessment.

Objective Risk Transfer

Transfer hard-to-insure risks like weather disruptions or supply chain delays using verifiable, objective data.

Enhanced Cash Flow Protection

Maintain liquidity during disruptions with predictable payouts that help fund alternative arrangements or cover fixed costs.

Why RiskBirbal Makes it Better

Sophisticated Trigger Design

Our parametric experts design triggers that closely correlate with your actual exposures, minimizing basis risk.

Data Source Due Diligence

We vet data sources for reliability, specify multiple verification sources, and establish clear dispute resolution mechanisms.

Trigger Monitoring & Alerts

Our systems monitor trigger parameters 24/7 and alert you when thresholds are approached or breached.

Integration with Traditional Coverage

We ensure parametric solutions complement your existing insurance program rather than creating coverage gaps.

Final Confidence Message

When you choose RiskBirbal for parametric insurance, you choose sophisticated risk engineering, data expertise, and integrated advisory—not just a policy. Our goal is to design parametric structures that actually protect your business, with triggers that matter, data you can trust, and payouts that arrive when you need them most.

Parametric Insurance Articles

IRDAI Guidelines for Parametric Insurance in India

Regulatory framework and compliance requirements for trigger-based products… Read more

14 Nov 2022 by 2700 Views

Renewable Energy and Parametric Weather Risks

Protecting solar and wind investments against weather-related production shortfalls… Read more

30 Oct 2022 by 2400 Views

Event Cancellation Insurance: Parametric Approaches

Trigger-based coverage for concerts, exhibitions, and sports events… Read more

15 Sep 2022 by 2100 Views

RiskBirbal for Business – Parametric Insurance – Customer Reviews

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★★★★★ 4.6
Jan 02, 2025

Manoj

Extensive cover with great features.

Bengaluru
★★★★★ 4.6
Jan 02, 2025

Tanay

User friendly website and smooth process.

HP
★★★★★ 4.6
Jan 02, 2025

Rohit

Plans are affordable and reliable.

MH
★★★★★ 4.6
Jan 02, 2025

Sunil

Insurance helped recover losses.

Bihar