Climate finance platform Sensible Weather has announced 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, issues proactive reimbursements when customers’ 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.
“The success of the Weather Guarantee, with over 50,000 sold and attach rates up to five times 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,” said Nick Cavanaugh, 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.”
Matt Sueoka, Global Head, Amex Ventures, added: “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. Sensible Weather offers consumers peace of mind when booking weather-dependent experiences, thanks to their vision, innovative strategy, and compelling product.”