Imagine that you planned your dream family vacation only to have it spoiled by rain, tropical storms, or even a heat wave? WeatherPromise’s founders have a bold mission to guarantee the weather for travelers. By doing so, they are creating a new category of weather guarantees inside of a rapidly growing travel add-on market.
Start with a winning, high-character team
WeatherPromise is led by co-founders David Klemm and Daniel Price, who bring thirty years of collective insurance and finance experience. Yale and Oxford educated, they have previously founded startups and have had successful careers in financial services and consulting.
On top of domain excellence, I was impressed by their commitment to core values of integrity, humility and trust. “Trust is everything in insurance,” Daniel told me as he laid out several detailed measures they took to ensure trust and metrics to validate it was working. I was also impressed by their culture of hiring great people with rigorous experience while fostering a culture of transparency and honesty.
Solving a Growing Problem: Weather Uncertainty in Travel
WeatherPromise's technology addresses the uncertainty travelers face when booking trips. Their offering integrates into travel booking sites, providing a weather guarantee that gives peace of mind to consumers and enhances bookings for partners. WeatherPromise offers travelers a guaranteed refund for a flight or hotel if a predefined bad weather event occurs during the travel period. They have growing partnerships with top travel sites to embed the weather guarantee into the checkout process, and this drives ancillary revenue and increases overall bookings.
WeatherPromise has multiple data sets and AI algorithms tailored to work together, often called compound AI. The models’ performance and competitive advantages improve as the product scales. Each new customer interaction gives more data to train the model. One layer predicts the frequency of weather events by location and date. Another layer determines how to price each weather event guarantee. Yet another determines which weather events customers want to buy. Daniel and David, who have deep experience and passion for quantitative forecasting and human behavior, are an ideal founding team to win this space.
A Market Ready for Growth
The global market for single-trip travel insurance is estimated to be over $15 billion in 2024 and could exceed $50 billion by 2030. Additionally, the market for event insurance, where WeatherPromise can also play, is untapped. This creates a potentially huge addressable market for WeatherPromise.
Consumers are increasingly looking for ways to mitigate risks when booking travel, particularly with weather being perceived as more and more erratic, and WeatherPromise fills that need. The company is also positioned to grow by offering weather-appropriate activities after its weather guarantee is already part of the purchase process.
WeatherPromise has demonstrated powerful results from early partners like HomeToGo, which materially increased its WeatherPromise conversion rate and has seen strong growth through 2024. It has signed top logos and is in process of launching further high profile partnerships in the coming months.
The whole package
Our 1Flourish team is impressed by WeatherPromise on multiple fronts. The team's deep expertise in insurance and technology, the commitment to integrity, the novel way they are using AI, the strong product economics, and their early traction, all point to a company with immense potential. We also believe that their approach to insurance can disrupt the market and provide real value to both customers and travel partners. We believe WeatherPromise has a winning formula and we are honored and excited to be part of their journey as well. Exciting News as of 2/2025
Today is an exciting day as JetBlue has just announced their partnership with WeatherPromise publicly.
LinkedIn Post from Founder
We are also excited that JetBlue has created an entire page on their website dedicated to WeatherPromise.
Comments