Climate Finance Platform Sensible Weather Announces Strategic Investment From Amex Ventures
The investment will help advance Sensible Weather’s objective to support travel, event, and outdoor businesses by creating better experiences for consumers in the face of growing weather uncertainty.
By the team at Sensible Weather
September 25, 2023
LOS ANGELES--(BUSINESS WIRE)--Sensible Weather, a climate finance platform with a mission to empower people to confidently get out and experience the world around them, announced today that it has closed a strategic investment from Amex Ventures, along with Sensible’s seed and series A lead investors, Wonder Ventures and Infinity Ventures, and new investor Industry Ventures.
This investment will help Sensible Weather, which offers a climate finance platform that combines the latest weather, financial, and risk management technologies, better deliver seamless products and services that help mitigate the impacts of disruptive weather on travel, events, and outdoor experiences.
Sensible's first product, a Weather Guarantee, gives consumers confidence and protection by issuing proactive reimbursements when their experiences may be affected by undesirable weather. This embedded financial product, currently sold through thousands of partner websites to Americans and Europeans traveling globally, helps businesses mitigate the impact of disruptive weather by avoiding weather-related cancellations and lost revenue.
In contrast to the traditional travel protection model, Sensible automatically reimburses consumers who purchase a Weather Guarantee if a pre-set threshold of forecasted weather is met. Before disruptive weather occurs, Sensible proactively notifies consumers that a reimbursement is available, and the consumer can still take part in their planned travel or activity.
“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,” says Nick Cavanaugh, PhD, Sensible Weather CEO and Founder. “The investment from Amex builds on our momentum and enables us to help more consumers enjoy their experiences, no matter the weather.”
"We are proud to support Sensible Weather in its efforts to provide novel solutions for consumers who love travel and outdoor experiences but face increasing challenges from unpredictable weather,” says Matt Sueoka, Global Head, Amex Ventures. “Sensible Weather offers consumers peace of mind when booking weather-dependent experiences, thanks to their vision, innovative strategy, and compelling product."
To learn more about Sensible Weather, visit sensibleweather.com.
About Sensible Weather
Sensible Weather is a climate finance platform that combines the latest weather, financial and risk management technologies to develop seamless products and services that offer greater predictability and confidence to how consumers experience the world around them. The Weather Guarantee, launched in 2021, proactively reimburses travel, outdoor and event experience consumers in the event of disruptive weather. With over 50,000 Weather Guarantees sold, Sensible has helped a rapidly growing list of businesses worldwide neutralize the impact of an unpredictable climate by increasing customer satisfaction and providing incremental revenue. For more information, please visit sensibleweather.com.