Insuretech Targets Climate Solutions for Travel and Event Insurance

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Sensible Weather, a climate finance platform that combines weather data, financial tools, and risk management technologies, has secured a second round of financing led by Amex Ventures with additional backing from its seed and series A investors.

Sensible Weather will use the capital infusion to further develop products and services that address weather related risks impacting travel, events, and outdoor experiences - including their flagship "Weather Guarantee" which issues reimbursements when covered travelers and the businesses offering them services encounter weather related cancellations.

Unlike traditional travel insurance, payouts are automatically processed when a predefined threshold of forecasted adverse weather is met, allowing time for travellers to adjust their plans and businesses that serve those travellers to mitigate losses.

Sensible Weather Founder and CEO Nick Cavanaugh says “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, added "Sensible Weather offers consumers peace of mind when booking weather-dependent experiences, thanks to their vision, innovative strategy, and compelling product.”