Auckland, New Zealand–headquartered Tower Insurance has officially launched Rainfall Response Cover in Fiji, its second parametric insurance product, via CelsiusPro’s award-winning White Label Platform.
According to Tower, it is designed to provide greater peace of mind and financial security for Fijian communities this wet season.
“It provides a rapid cash pay-out when a customer is impacted by heavy rainfall, regardless of damage and without the need for an insurance assessor’s signoff,” the firm explained.
The new product also builds on Tower’s successful rollout of parametric Cyclone Response Cover in partnership with the UNCDF in Fiji (2022) and Tonga and Samoa (2023).
“We were honoured to have the New Zealand High Commissioner to Fiji, Her Excellency Charlotte Darlow, and Reserve Bank of Fiji (RBF) Deputy Governor Esala Masitabua speak at the event, alongside Tower Chief Underwriting Officer Ronald Mudaliar and United Nations Capital Development Fund (UNCDF) Inclusive Insurance Solutions Hub Coordinator Akata Taito,” Tower added.
Mudaliar commented, “For 151 years in the Pacific and 156 in New Zealand, we have been committed to helping people protect what matters most. Creating innovative parametric products is one way we are helping the Pacific Islands to be future-ready.
“On top of Cyclone Response Cover, we are thrilled to help further increase insurance accessibility through the launch of Rainfall Response Cover. We want to help local communities think ahead and help facilitate a faster recovery from rainfall damage.”
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