Igloo and DANA launch $0.028 parametric rain insurance in Indonesia

It automatically compensates users when rainfall in their location reaches 2.5mm or more.

Igloo and DANA have launched DANA Rain Protection, a parametric weather insurance product in Indonesia.

The insurance cover, priced at $0.028 (IDR500) per policy, automatically compensates users when rainfall at their location reaches 2.5mm or more during the coverage period, with no paperwork and human adjudication required.

Claims are validated using satellite precipitation data and the user’s GPS coordinates, Igloo and DANA said in an announcement in September 2026.

Igloo and DANA said that rain in Indonesia causes ride-hailing prices to surge, outdoor plans to be cancelled, and commutes to be delayed, whilst small merchants lose critical foot traffic.

Parametric insurance is historically sold to farmers protecting crop yields against drought or flood.

“What DANA Rain Protection shows is that the technology Igloo has built over the years can make something useful but niche, mainstream, directly benefiting the life of a commuter caught in a downpour,” said Raunak Mehta, Co-Founder and CEO of Igloo.

DANA Rain Protection is available on the DANA app.