This platform offers weather risk insurance to tourism, outdoor experience, and event companies, protecting them from financial losses due to adverse weather, such as rain. By providing coverage against weather-related disruptions, the company enables businesses to safeguard revenue and maintain positive customer experiences.
Funding
Funding not disclosed
Founders
Product
Problem
Tourism, outdoor experience, and event companies face financial losses due to adverse weather conditions, such as rain, which can disrupt planned activities and negatively impact revenue. Traditional insurance processes often require lengthy claims and may not provide sufficient coverage for weather-related disruptions.
Solution
Orakle Weather provides weather risk insurance that protects businesses from financial losses caused by adverse weather, specifically rain. The company monitors weather forecasts and automatically notifies clients if their activity is eligible for compensation the day before the event. Clients have the flexibility to cancel up to one hour before the activity and receive 100% reimbursement, or proceed and be compensated up to 50% for additional expenses incurred due to rain. Orakle Weather leverages meteorological data and algorithms developed with climatologists to quantify precipitation risk and offer fair pricing.
Target Audience
The primary target audience includes tourism operators, outdoor experience providers, and event companies that are vulnerable to financial losses due to adverse weather conditions.
Features
- Automated monitoring of weather forecasts to determine eligibility for compensation
- Notification via email and SMS the day before the activity if the guarantee is triggered
- Option to cancel up to 1 hour before the activity for 100% reimbursement
- Compensation up to 50% for additional expenses if the activity proceeds despite rain
- Algorithms developed with climatologists to quantify precipitation risk
- Coverage against rain and wind