AXA Hong Kong and Macau has introduced a pioneering "Heatwave Parametric Insurance" to protect outdoor workers from rising climate risks in the region. As temperatures in Hong Kong continue to rise—up by 0.30°C per decade since 1994—outdoor workers such as those in construction, property management, public utilities, and transportation are increasingly vulnerable to extreme heat. AXA’s new insurance product is designed to offer flexible protection during these high-risk summer months.
The innovative insurance plan provides coverage during peak heat periods from August to October. With a premium of just HKD19.9 per person, insured workers will receive a payout of HKD100, or an anti-heatwave kit of equivalent value, if temperatures exceed 36.0°C for three consecutive days. AXA will automatically monitor weather conditions and inform customers when the payout trigger is met, removing the need for claim forms or proof of loss.
Emily Li, Chief Employee Benefits & Wellness Officer at AXA Hong Kong and Macau, emphasized the importance of protecting employees amid escalating climate risks, noting that the product is the first parametric insurance in Hong Kong tailored specifically to address climate change’s impact on workers. This initiative highlights AXA’s commitment to integrating sustainability into its services and providing comprehensive protection in a rapidly changing environment.
The new insurance is backed by AXA’s scientific climate models, developed by over 150 experts globally, and simplifies the claims process, offering a practical and efficient solution for companies looking to enhance workforce protection during extreme heat events.
