Weather's lack of predictability can have a devastating effect on certain businesses. Rain can shut down a golf course for days, and a dearth of snow can wreak havoc on a ski resort's bottom line. Helping companies manage the risk caused by weather's uncertainty is the centerpiece behind startup company WeatherBill.
Launched earlier this year by former Google team members, WeatherBill provides an online platform to help small to midsize businesses insure themselves against adverse weather conditions. Companies can purchase customized coverage and receive automatic payment from WeatherBill without any underwriting or claims processing.
"We tried to make the process really simple," explains David Friedberg, WeatherBill CEO and one of its founders. "One of the reasons we think this industry hasn't taken off before is because of the complexity associated with weather contracts and how they're transacted. We really tried to simplify it to its core, which is to pay clients when things happen that hurt their business."
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