Parametric Climate Insurance

Climate risk resolved in 72 hours.

Riskwright underwrites parametric climate policies indexed to weather-station data. When a trigger threshold is crossed, payment initiates automatically — no adjuster, no dispute.

Policy RW-2024-1087 · Drought Index PAID
Insured Sunbelt Grain Cooperative
Trigger metric SPI-3 ≤ −1.5 (60-day avg)
Station data NOAA / GHCN ATL-0044
Index reading −2.31 THRESHOLD EXCEEDED
Trigger date 2024-08-14
Net payout — wire transfer $180,000
Trigger
Paid in 68 hrs
  • Angel-backed, 2023
  • Policies paying in ≤ 72 hours
  • Weather-station indexed triggers
  • Agriculture & Infrastructure
The problem

Traditional insurance wasn't built for climate uncertainty.

Loss assessment takes 45–120 days. Disputes are common. Meanwhile, a grain co-op's operating line is frozen and a utility contractor can't make payroll. The weather already decided the outcome — the money shouldn't take months to follow.

Traditional indemnity insurance
  • Day 0 Loss event occurs
  • Day 5–14 Adjuster assigned
  • Day 20–45 Site inspection, documentation request
  • Day 60–120 Claim review & potential dispute
  • Day 90–180 Settlement — if approved
Riskwright parametric
  • Day 0 Trigger threshold crossed at weather station
  • Hour 4 Automated index verification
  • Hour 12 Payout notification sent
  • ≤ 72 hrs Wire transfer confirmed
How it works

Three steps. No claims process.

01

Define the trigger

We work with you to select an objective, independently verifiable weather index — drought SPI, wind speed exceedance, cumulative precipitation deficit, or temperature deviation. The trigger threshold is written into the policy contract.

02

Monitor the index

A designated weather station (typically NOAA GHCN or ASOS network) provides continuous data. No adjuster involvement. The index reading is public record and verifiable by any party.

03

Automatic payout

When the index crosses the agreed threshold, payment initiates. A wire transfer reaches your account within 72 hours of trigger confirmation. No claim to file. No dispute window.

Full process detail
Coverage

Two sectors. One mechanism.

Agriculture

Grain producers, vegetable growers, livestock operations, and agricultural co-operatives face compounding weather exposure. Parametric policies replace the slow indemnity cycle with objective payout triggers.

  • Drought index (SPI-3, SPI-6)
  • Excess precipitation / flooding events
  • Frost-degree days for specialty crops
  • Cumulative heat stress (growing degree days)
Agriculture coverage

Infrastructure

Utility operators, transportation networks, and energy project developers carry significant weather-linked operational risk. Parametric coverage activates on measurable atmospheric events, not assessed damage.

  • Wind speed exceedance (sustained or gust)
  • Freezing rain accumulation
  • Atmospheric river precipitation events
  • Lightning strike density (ISO cell)
Infrastructure coverage
Why parametric

The case for objective triggers.

Parametric insurance trades subjectivity for speed. Here is how the core dimensions compare.

Dimension Riskwright parametric Traditional indemnity
Payment speed ≤ 72 hours 45–180 days
Trigger basis Weather station index Adjuster assessment
Dispute risk None (index is binary) Common (subjective loss estimate)
Verification Public weather data Proprietary claim file
Basis risk Managed via station selection Moral hazard / under-insurance
Cash flow impact Predictable, immediate Uncertain, months delayed
Read our methodology
Data transparency

Every trigger is independently verifiable.

Riskwright policies reference publicly accessible weather station networks — NOAA GHCN, ASOS, and CWOP — so any counterparty can confirm the index reading that generated a payout. There is no proprietary black box.

  • Station data archived and auditable post-event
  • Index calculation methodology disclosed in policy schedule
  • Backup station protocol specified at policy inception
Weather station network — coverage sample
GHCN
ATL-0044
SPI −2.31
ASOS
ATL-0061
SPI −1.88
GHCN
MCN-0012
SPI −1.42
CWOP
BHM-0039
SPI −1.19
ASOS
SAV-0007
SPI −2.05
GHCN
JAX-0054
SPI −0.97
Trigger threshold crossed Monitoring (below threshold)
Early users

Speed changes the balance sheet calculus.

"

We had a drought year where our member farms were drawing heavily on their operating lines by August. Under traditional crop insurance we'd be waiting until January for the indemnity. With the parametric structure, when the SPI-3 crossed −1.5 in late August, we had a wire confirmation within three days. That's a different financial position entirely.

Marcus Treadwell CFO, Sunbelt Grain Cooperative
"

We manage weather risk across capital projects in multiple states. The question for us is always: when a wind event stresses the project, does the coverage respond fast enough to matter? With Riskwright's wind-speed trigger, the ASOS station data is the arbiter. No adjuster, no dispute. The policy pays on the measurement, and it's in our account before the emergency repair crew has finished billing.

Sandra Ochoa Risk Manager, Highroad Contractors
About Riskwright

Built by people who got tired of the claims process.

"Parametric structures have been available at the Lloyd's and Swiss Re level for decades. The mid-market grain producer and the regional utility contractor have never had access. That's not because the product is too complex for them — it's because no one prioritized the underwriting work for a $150,000 policy. That's the gap Riskwright is designed to close."

Patrick Durand CEO & Co-Founder, Riskwright
Our team and story
Start the conversation

Ready to remove weather uncertainty from your balance sheet?

Tell us your exposure — crop type, geography, trigger concern. Our underwriting team responds within one business day with a preliminary index analysis and indicative premium.

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