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Location:
445 Bush Street, Suite 100,
San Francisco, California 94108,
United States
Admins (1)
Followers (7)
Weatherbill
Company description
Weatherbill provides a financial services platform for managing weather risk.
WeatherBill, founded by former Googler David Friedberg, helps businesses weatherproof their revenue. WeatherBill offers custom weather contracts to protect businesses from financial loss caused by bad weather and provides tools to increase revenues through weather-related marketing promotions.
Businesses in industries ranging from construction and travel to agriculture and outdoor entertainment use WeatherBill’s tools to guarantee revenues in the face of uncertain weather. A requirement to qualify for coverage from WeatherBill is a net worth of over $1 million, and unlike insurance, there is no proof of loss or claims process required for payout. If the weather happens, you get paid. Each user can define what “bad” weather is and create a customized contract to match that need (e.g. excess rain for an amusements park or severe drought in the case of a farm).
Users select a weather station via a Google Maps mash-up and choose the weather conditions they want to protect against. These options include temperature and precipitation level, and the specific parameters can be selected by the user.
WeatherBill hedges its own risk via its weather algorithm and ongoing partnership with a large hedgefunds.
WeatherBill has launched in Canada, the UK, the Netherlands, Spain, Germany and Norway in addition to the US.
Team
David Friedberg
CEO at WeatherBill. David Friedberg currently serves as the CEO of WeatherBill.
He founded the company in 2006, prior to which he was with Google, where he
joined as one of the founding members of the company's Corporate Development
team. David managed a number of strategic projects for Google, including
identifying and leading several of Google's largest acquisitions. David also
served as a Business Product Manager for AdWords - Google's primary revenue
source. Prior to Google, David spent several years working in private equity and
investment banking. He has invested in and advised dozens of companies in the
technology industry. Earlier, David worked at the Lawrence Berkeley National
Laboratory, where he led several projects as a mathematical programmer. David
received his BA in Astrophysics from UC Berkeley.
Siraj Khaliq
CTO at WeatherBill. Siraj Khaliq is currently CTO of WeatherBill. He founded the
company in 2006, having previously worked at Google in lead technical roles on
several high-profile projects, including Google Book Search, Patent Search and
other offline content search initiatives. Prior to joining Google, Siraj
obtained a Masters degree in Computer Science at Stanford University, where he
was also a software architect for the Folding@Home research project. Siraj
received his Bachelors in Computer Science from the University of Cambridge,
England.
Business model
WeatherBill is the first service to provide affordable and easy-to-use weather
coverage to protect revenue and control costs for the millions of businesses
impacted by the weather.
WeatherBill coverage is safe and reliable. There is no unnecessary paperwork, no claims process, no proof-of-loss and no waiting for payment. WeatherBill is the only service that enables customers to customize, price and buy weather coverage online in just minutes, and pays automatically when bad weather occurs.
In addition to weather coverage, WeatherBill provides free services for businesses affected by the weather. Our free weather correlation tools help individual businesses understand how weather impacts their financial performance. Our research reports provide insight into the ways weather affects all industries. We believe every business should understand how the weather affects demand, yields, costs, schedules and the bottom line. WeatherBill can provide the earnings protection critical to every weather sensitive business.
WeatherBill coverage is safe and reliable. There is no unnecessary paperwork, no claims process, no proof-of-loss and no waiting for payment. WeatherBill is the only service that enables customers to customize, price and buy weather coverage online in just minutes, and pays automatically when bad weather occurs.
In addition to weather coverage, WeatherBill provides free services for businesses affected by the weather. Our free weather correlation tools help individual businesses understand how weather impacts their financial performance. Our research reports provide insight into the ways weather affects all industries. We believe every business should understand how the weather affects demand, yields, costs, schedules and the bottom line. WeatherBill can provide the earnings protection critical to every weather sensitive business.
