New-age non-life company Digit Insurance is using data mining and analytics to develop low-cost micro products — like a cover for flight delays of 60-75 minutes — for a double-digit premium. The idea behind the flight delay policy is that passengers usually end up spending more money in the airport if they have to wait an additional hour. They will either buy a book or spend time in a coffee shop. The insurance cover compensates them by paying a claim amount of Rs 1,000.