New parametric insurance can deliver payouts for even the lightest showers

Policyholders can choose a payout cap tied to 0.25 inches, 0.5 inches, or 1 inch of rain. Unlike traditional rain insurance, which only issues a claim when precipitation reaches a fixed trigger point, RainSure delivers incremental payments as each hundredth of an inch is recorded, creating a tiered system that accounts for varying degrees of weather impact.