Sensible Weather, a climate finance platform dedicated to empowering individuals to confidently engage with the world around them, has recently announced the closure of a strategic investment from Amex Ventures.
This funding round also witnessed participation from Sensible’s seed and series A lead investors, Wonder Ventures and Infinity Ventures, as well as the new investor, Industry Ventures.
This significant injection of capital is set to fortify Sensible Weather’s mission of delivering seamless products and services that assist in mitigating the disruptive impacts of adverse weather conditions on travel, events, and outdoor experiences.
The centerpiece of Sensible Weather’s offerings, their inaugural product known as the “Weather Guarantee,” serves as a source of assurance and protection for consumers.
By integrating the latest weather forecasting, financial, and risk management technologies, the Weather Guarantee proactively issues reimbursements to users when their planned experiences are at risk due to unfavourable weather conditions.
This unique financial product, currently available through a multitude of partner websites, caters to both American and European travelers worldwide. It not only safeguards consumers’ interests but also aids businesses in minimising losses stemming from weather-related cancellations.
What sets Sensible Weather apart from conventional travel protection models is its automatic reimbursement process. Users who opt for the Weather Guarantee are reimbursed if a predefined threshold of forecasted adverse weather is met.
Crucially, the platform takes a proactive approach by alerting consumers to the availability of reimbursements before disruptive weather events occur, allowing travelers and event-goers to make informed decisions about their plans.
Nick Cavanaugh, PhD, Founder, and CEO of Sensible Weather, emphasises the growing demand among consumers for better protection against unpredictable weather conditions.
He notes, “The success of the Weather Guarantee, with over 50,000 sold and attach rates up to 5x higher than travel insurance offerings, is a reflection of the growing need for travel, outdoor, and event consumers to better protect themselves against disruptive weather. The investment from Amex builds on our momentum and enables us to help more consumers enjoy their experiences, no matter the weather.”
Matt Sueoka, Global Head of Amex Ventures, expressed pride in supporting Sensible Weather’s innovative solutions for consumers who cherish travel and outdoor adventures but contend with the challenges posed by erratic weather.
Sueoka commended Sensible Weather’s vision, innovative strategy, and compelling product, stating, “Sensible Weather offers consumers peace of mind when booking weather-dependent experiences, thanks to their vision, innovative strategy, and compelling product.”