PRESS RELEASE from Outdoor Sportswire —
A letter of intent between Buddy (https://my.buddy.insure/) and Rezo Systems (https://rezosystems.com/), the foremost creator of custom activity-based reservation systems, was announced today. The agreement means that owners and operators in the adventure tourism and outdoor resort spaces (including ski, bike and kayak rentals; whitewater rafting trips, four-wheel drive and ATV rentals; and watersport rentals) will soon be able to electronically offer on-demand accident insurance for customers at the same time they reserve their gear or trips.
The adventure tourism sector has seen double-digit growth, and Buddy expects it to explode in the second quarter of 2021 as more parts of the United States ease lockdowns and other restrictions. Yet, some studies show that popular activities like mountain biking, horseback riding, hiking and surfing are high risk, and in some cases, injuries approach the same rate as motor vehicle accidents. Many times, these result in medical care costs that don’t reach the level of high deductibles most Americans carry, leaving them to pay out of pocket to the tune of thousands of dollars. Buddy is the only American company able to sell on-demand coverage in bite-sized chunks to fill this gap, starting at less than $10 a day.
“The idea for Buddy came about when we saw a growing number of friends running GoFundMe’s to cover getting hurt while mountain biking, skiing or kayaking,” said Buddy’s CEO, Charles Merritt. “Whether it’s their first time on the trail or they’re a veteran, everyone deserves to be protected while enjoying the great outdoors. Our agreement with Rezo will let us meet them at the moment they sign up so they can have a worry-free experience.”
Buddy was launched to empower Americans to fearlessly lead active lives while removing the financial pain and insecurity that accompanies any unforeseen accident. This coverage provides benefits that are paid directly to the policyholder. Customers only pay for the coverage they need, no more. It was this novel approach that led Outside Magazine to call Buddy one of the top outdoor innovators, and for Investopedia to name it among the five best personal accident insurance companies.
The on-demand accident plan provides benefit payments up to $50,000 for injuries treated by a medical professional or physical therapist, and up to and including paralysis, traumatic brain injury, and death. Plans can cover individuals, couples, families, or kids. The premium for a one-day plan starts around $9 in most states, and annual plans begin at $47 per month.
Rezo Systems started creating custom reservation systems for the vacation rental market in 2002. In 2005, it launched an activity-based reservation system for the ski rental industry. Since then, it has built and customized reservation systems for a wide variety of recreation industries, including: bike rentals, rafting trips, Jeep and ATV rentals, and watersport rentals. Rather than an off-the-shelf product, Rezo customizes each product to fit each client’s special requirements.
“If we learned one thing from the past year, it’s that life comes with risk and that includes being outdoors,” said Marc Harrell, owner of Rezo Systems. “By working with Buddy, we can let our clients provide additional value and a sense of security — physical and financial — when they head out on the trail, hill or water.”
About Rezo Systems
Rezo Systems started creating custom reservations system for the vacation rental market in 2002, working with multi-property vacation rental companies and individual stand alone properties — even a backcountry yurt. In 2005, we created our first activity-based reservation system for the ski rental business. Since then, we have built online reservation systems for a variety of recreation industries to include bike rentals, rafting trips, jeep/atv rentals and watersport rentals. We also offer a robust Guide Management System for fly fishing and bike tours. We understand that the needs of each business are unique and so offer industry-based custom platforms in an easy-to-manage platform. The end result is a product that makes the booking system simple for both the customer and the business, while giving you control of your products with just a few clicks. For more information, email email@example.com or visit https://rezosystems.com.
Buddy’s industry transforming Insurance Gateway is the simplest way for software companies to manage and sell insurance products to customers. Built for businesses but designed for developers, Buddy's single, forward-compatible connection enables software companies to offer and manage insurance without costly engineering hours. Buddy is based in Richmond, Va., and is an alumnus of Techstars and Plug and Play Accelerators. Buddy was named a 2019 “Outdoor Innovator” by Outside Magazine and an “Insurance Innovator to Watch” by Digital Insurance. Buddy is funded by Atypical Ventures, Sequoia Scout Fund, CIT, Techstars, and Plug and Play, as well as angel investors.