Weatherbill

Weatherbill
Startup/business
San Francisco, California, United States United States
http://www.weatherbill.com
  • Overview
  • Team
Company description

Weatherbill provides a financial services platform for managing weather risk.

 

WeatherBill, founded by former Googler David Friedberg, helps businesses weatherproof their revenue. WeatherBill offers custom weather contracts to protect businesses from financial loss caused by bad weather and provides tools to increase revenues through weather-related marketing promotions.

Businesses in industries ranging from construction and travel to agriculture and outdoor entertainment use WeatherBill’s tools to guarantee revenues in the face of uncertain weather. A requirement to qualify for coverage from WeatherBill is a net worth of over $1 million, and unlike insurance, there is no proof of loss or claims process required for payout. If the weather happens, you get paid. Each user can define what “bad” weather is and create a customized contract to match that need (e.g. excess rain for an amusements park or severe drought in the case of a farm).

Users select a weather station via a Google Maps mash-up and choose the weather conditions they want to protect against. These options include temperature and precipitation level, and the specific parameters can be selected by the user.

WeatherBill hedges its own risk via its weather algorithm and ongoing partnership with a large hedgefunds.

WeatherBill has launched in Canada, the UK, the Netherlands, Spain, Germany and Norway in addition to the US.

 


Business model
WeatherBill is the first service to provide affordable and easy-to-use weather coverage to protect revenue and control costs for the millions of businesses impacted by the weather.

WeatherBill coverage is safe and reliable. There is no unnecessary paperwork, no claims process, no proof-of-loss and no waiting for payment. WeatherBill is the only service that enables customers to customize, price and buy weather coverage online in just minutes, and pays automatically when bad weather occurs.

In addition to weather coverage, WeatherBill provides free services for businesses affected by the weather. Our free weather correlation tools help individual businesses understand how weather impacts their financial performance. Our research reports provide insight into the ways weather affects all industries. We believe every business should understand how the weather affects demand, yields, costs, schedules and the bottom line. WeatherBill can provide the earnings protection critical to every weather sensitive business.