Former Google Team Members Launch Online Service for Managing Weather Risk

SAN FRANCISCO, Jan. 17 /PRNewswire/ -- Former Google team members have turned their attention to empowering businesses to manage how weather affects their bottom line. WeatherBill provides an online platform which allows companies to purchase coverage that automatically pays for adverse weather conditions without any claims hassle. A retailer, golf course, or production company that might lose $20,000 in potential revenue during an unusually rainy weekend could be covered for as little as $1,000. WeatherBill also provides free tools to help businesses understand how weather impacts their financial performance. Weather-prone industries -- from construction to travel -- are all set to benefit.

Weather has a staggering impact on the U.S. economy: up to 30% of the GDP, valued at several trillion dollars, is affected. Weather impacts consumer purchasing behavior, crop growth, fuel costs, transportation, and manufacturing production, though only recently has there been significant growth around weather analytics and risk management. Before WeatherBill, only the largest and most sophisticated corporations were positioned to address weather risk. WeatherBill demystifies weather risk management, and makes critical analytical tools and services accessible to all businesses, allowing them to quickly and easily correlate weather conditions with corresponding financial performance.

Comprised of an experienced team of mathematicians and computer scientists, WeatherBill has developed state-of-the-art weather-forecasting algorithms; in addition, their risk-management relationships with large financial institutions ensures fast, competitive pricing of weather coverage and guaranteed payment to customers. WeatherBill uses data from 200 National Weather Service stations, which allows any user to effectively tailor a contract to their needs.

"In the past, managing weather risk may have seemed impossible, or too good to be true," says David Friedberg, CEO of WeatherBill. "Now, however, it's quickly and easily managed with WeatherBill's comprehensive and easy-to-use service. Weather risk management is a necessity for a successful business interruption strategy. A 'weather-proof' plan offers competitive advantage by potentially reducing earnings volatility, freeing cash reserves, and reducing debt costs. Weather risk management is an integral component to sound business management."

WeatherBill, Inc. (http://www.weatherbill.com/ ) provides an online weather risk management service offering tools to help business assess how weather impacts financial performance, as well as customized coverage to offset financial risk. Founded by David Friedberg and several other former key members of the Google team, WeatherBill, Inc. is funded by New Enterprise Associates and Index Ventures. WeatherBill, Inc. is headquartered in San Francisco, California.