Arbol to offer parametric weather protection for vacation rentals
Following its $7 million Series A round which was announced earlier this year, NY-based Arbol is now announcing a partnership with RealTimeRental, the NJ-based provider (team of 6) of vacation rental and property management software.
Arbol claims it will now offer the first parametric weather protection program for vacation rentals . The Arbol-RTR weather protection program automatically refunds the renter’s selected coverage amount if it rains for more than half of their vacation. For example, the renter gets refunded their coverage amount if it rains for four or more days of a seven-day vacation. The program will be rolled out immediately for all RealTimeRental customers.
“We are excited to partner with RealTimeRental to offer a program that leverages Arbol’s cutting edge technology and hyperlocal, real-time weather data to give property managers the ability to offer rainfall protection to their renters. By basing settlements on objective weather data, we can help vacation property managers differentiate their spots and offer their clients peace of mind that their vacation will be protected.” – Sid Jha, founder and CEO of Arbol.
“We are pleased to partner with Arbol to give RealTimeRental clients the opportunity to offer weather protection for the vacation rental industry. The parametric weather protection is a unique product that fills a need in the vacation rental industry. Through this partnership, we are excited to offer property management companies the ability to keep their rental guests happy in the case of inclement weather during their vacation and help differentiate their properties.” – Joe Testa, co-founder IHC to sell interest in pet division .