Sensible Weather, a climate technology insurance company focused on helping consumers understand climate, has closed a strategic investment to help it expand its solutions.
Founded in 2019 by climate scientist Nick Cavanaugh, Sensible claims it is de-risking weather for consumers and outdoor experience partners.
The company is backed by a National Science foundation grant and $22m in total financing.
Sensible Weather’s first product, the Weather Guarantee, is built upon satellite imagery and climate analytics developed from over a decade’s worth of research in industry and academia.
Sensible Weather has partnered with EP Golf Ventures to enable the company to have access to its Weather Guarantee Protection. This, the climate InsurTech said, will eliminate the burden of issuing rain checks and give golfers the option to protect against the risk of volatile weather when booking tee times and lodging packages online.
EP Gold Ventures, a new investment partnership created by the PGA of America and Elysian Park Ventures, the private investment arm affiliated with the Los Angeles Dodgers ownership group, made the strategic investment.
Sensible Weather’s Weather Guarantees automatically reimburse tee time and other travel-related costs in the case of rain, extreme temperatures or other undesirable weather during a round.
The service is designed to streamline operations for PGA Members, increase golfer satisfaction, decrease last-minute cancellations, avoid “rain check” issuance, and generate incremental revenue for golf facilities.
The additional capital will allow Sensible Weather to continue rapid development of its proprietary climate data and risk analytics platform, and expand its popular Weather Guarantee protection.
Arjun Chowdri, , PGA of America chief innovation officer, said, “The PGA of America is thrilled to bring Sensible Weather to PGA facilities nationwide “The weather is something out of our control and affects the lives of our PGA Professionals and their facilities every day. Having a company and product that is good for our Members, their facilities and golf consumers is an all-around winning formula.”
In December last year, FinTech Vitesse, climate risk insurance platform Yokahu and parametric InsurTech FloodFlash teamed up to support climate vulnerable communities after extreme weather events.
Copyright © 2023 FinTech Global