Inrisk Labs, a pioneering insurtech company, has secured investment to enhance parametric insurance solutions for India's agriculture and weather-sensitive sectors, addressing the urgent need for timely and reliable responses to climate risks.

Target Information

Inrisk Labs is an innovative insurtech company dedicated to transforming the insurance landscape for climate-sensitive sectors in India, particularly agriculture. The company develops parametric insurance products designed to provide quick, reliable payouts based on measurable weather indicators, addressing the shortcomings of traditional indemnity-based insurance. Inrisk Labs aims to enhance business continuity and resilience by leveraging advanced climate data and actuarial science.

The platform collaborates with insurers, governmental agencies, corporations, and research organizations to facilitate automated payouts triggered by independently verifiable indices such as temperature, rainfall, soil moisture, and wind speed. This eliminates delays and uncertainty found in conventional claims processes, transforming how organizations manage climate-related risks.

Industry Overview in India

The insurance sector in India is at a crucial juncture, especially in light of increasing climate risks. The country has witnessed significant weather-related losses, with estimates rea