US: RealTimeRental, a cloud-based vacation rental and property management software platform, has partnered with Arbol, an insurtech platform for parametric weather protection products, to offer the first parametric weather protection program for vacation rentals.
The “first-of-its-kind” program will offer vacation renters a solution to protect their vacation against rainy weather.
Sid Jha, founder and CEO of Arbol, said: “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.”
Joe Testa, co-founder of RealTimeRental.com, said: “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,” he added.
The Arbol – RealTimeRental weather protection program will automatically refund 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.
Arbol leverages big data and cutting-edge technology [including AI, machine learning, blockchain] to bring transparency and efficiency to the weather risk market, and its products serve individuals and businesses in the agriculture, energy, maritime and leisure industries.
Founded in 2000, RealTimeRental is a cloud-based vacation rental software solution for rental companies of any size.