Caught in the rain? DANA users can now get an insurance payout

Parametric insurance has mostly protected farmers against drought and flood, but thanks to Igloo and DANA, everyday consumers can now benefit from it when rain ruins their night out. DANA Rain Protection costs IDR 500 and pays IDR 50,000 automatically when satellite data shows at least 2.5mm of rain, with no claim form. Igloo Co-Founder and CEO Raunak Mehta called it proof that Igloo’s technology can make “something useful but niche, mainstream”.