Insights
Arbol and RealTimeRental Partner to Offer the First Parametric Weather Protection Program for Vacation Rentals
May 14, 2021
NEW YORK (May. 14, 2021) — Arbol Inc., an InsurTech platform for parametric weather protection products, today announced it has partnered with RealTimeRental (RTR), the original cloud based vacation rental & property management software platform, to offer the first parametric weather protection program for vacation rentals. This first-in-kind program will offer vacation renters a simple solution to protect their vacation against rainy weather.
“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,” said Sid Jha, founder and CEO of Arbol. “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.”
“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,” said Joe Testa, Co-Founder RealTimeRental.com.
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.
RealTimeRental.com is a leading cloud based vacation rental software solution for rental companies of any size. As the first web based vacation rental software on the market in the year 2000, RealTimeRental has consistently provided a comprehensive reservation and accounting system for the past 21 years. In addition to the reservation management tools and fully integrated trust accounting package, RealTimeRental offers rental website integration options and online portals for rental guests and property owners. As a cloud based software, RealTimeRental clients have the peace of mind that their reservation management system can be accessed 24/7 via the cloud. Learn more at RealTimeRental.com
Arbol is an InsurTech platform for parametric products that pay users quickly and fairly covering external risks such as unexpected weather. Arbol leverages big data and cutting edge technology (AI, machine learning, blockchain) to bring transparency and efficiency to the weather risk market. Arbol’s proprietary pricing platform enables users to customize a coverage program and get live pricing directly through the app. It is powered by an AI underwriter built to keep premiums as low as possible. Arbol’s self-executing smart contracts are triggered by objective, tamper-proof and trusted datasets, which facilitate an automatic payout for the user when the threshold for loss in their contract is met, meaning they never have to file a claim to get paid. Arbol’s products currently serve individuals and businesses in the agriculture, energy, maritime and leisure industries.
