Overview
Poncho (formerly Bluveyl) is a parametric weather insurance MGA based in Morges, Switzerland, targeting travel operators, tour companies, outdoor activity providers, and vacation booking platforms across Europe. Founded in 2023 by Omar Jerrari and Nicolas Lagreze, the company provides embedded weather guarantees that integrate directly into business booking processes.
Poncho underwrites parametric weather coverage using proprietary algorithms that generate real-time insurance offers during the booking process. Coverage is calibrated to specific locations, dates, and activity types. Carrier capacity details are not publicly disclosed. When predefined weather thresholds are exceeded -- as determined by continuous monitoring of satellite data, radar feeds, and data from NOAA, ECMWF, and DWD -- customers receive automatic refunds immediately without filing a claim.
As of late 2024, Poncho had launched commercially in Switzerland with five selected travel and leisure business partners. The company raised a CHF 550k (approximately EUR 589k) seed round in November 2024 led by WeBuild Ventures and Fusion Partners, coinciding with its initial product launch.
Products & Services
Weather Guarantee
Poncho embeds parametric weather guarantees into the checkout flow of travel and outdoor activity businesses via API. The platform monitors weather conditions continuously and triggers automatic refunds when predetermined thresholds are crossed, eliminating the need for customer claims.
Key Features
- Automatic refund triggered when weather conditions exceed predefined thresholds
- Real-time weather monitoring via satellite, radar, NOAA, ECMWF, and DWD data
- Coverage tailored to specific location, date, and activity type
- Same-day payout processing (triggers evaluated at 8 PM daily)
Target Users: Travel operators, tour companies, outdoor activity providers, vacation booking platforms
Distribution: Direct integration via API with travel and leisure businesses; point-of-sale web interface for businesses without online sales channels