Overview of WeatherIt Products

WeatherIt currently offers rain-based parametric protection products.

Product Parameters

Each product is defined by a fixed and transparent set of parameters that are locked at the point of purchase:

flowchart LR
    A["Location"] --> E["Policy<br/>Created"]
    B["📅 Coverage Period"] --> E
    C["Weather Trigger"] --> E
    D["Payout Amount"] --> E
    E --> F["Parameters locked<br/>— cannot change<br/>after purchase"]

    style A fill:#e3f2fd
    style B fill:#e3f2fd
    style C fill:#e3f2fd
    style D fill:#e3f2fd
    style E fill:#fff3e0
    style F fill:#e8f5e9

Parameter	Description
Location	Specific geographic point tied to the nearest official weather station
Coverage period	Defined date and time window
Weather trigger	Rainfall threshold that activates a payout (e.g. mm of rain)
Payout amount	Pre-agreed amount paid if trigger conditions are met

Product Characteristics

WeatherIt products are:

Characteristic	Detail
Optional	Offered at checkout as an add-on — never mandatory
Dynamically priced	Premium is calculated based on the value of the customer's booking
Customer-purchased	The customer makes the purchase decision
Automatically triggered	If pre-specified weather conditions are met, payout happens without a claim

Key Principle
All parameters are set before purchase and do not change after the policy is issued. This gives customers certainty about exactly what they're covered for.