Outdoorsy, a marketplace for recreational vehicle rentals, has been recognized as the 4th most innovative company in the Travel and Hospitality sector by Fast Company’s World’s Most Innovative Companies for 2023.
According to a press release, the list is the definitive source for recognizing organizations transforming markets and shaping economies.
Since its launch in 2015, Outdoorsy has introduced millions of guests to the freedom of outdoor travel and driven fast growth, exceeding $2 billion in transactions.
“Receiving this recognition, especially after these turbulent past few years — shifting macro events and soaring consumer demand for outdoor travel — highlights the resilience of our products, teams, and ability to innovate during both hard and good times,” said Outdoorsy’s CEO Jeff Cavins said.
One of the distinguishing innovations that made Outdoorsy stand out for the Most Innovative Companies list was its pioneering of digital insurance products through its Roamly platform, designed explicitly for the travel markets.
Roamly is growing faster than 240% YoY and eliminates the commercial exclusion clause prohibiting online renting. It differentiates itself from legacy insurance companies by opening new revenue streams for RV hosts participating in peer-to-peer marketplaces like Outdoorsy.
Roamly underpins the Outdoorsy marketplace and enables other online markets through its proprietary digital insurance offerings. The insurtech is pacing to exceed $330 million in premium by the end of 2024.
In the year ahead, Outdoorsy plans to continue transforming the outdoor hospitality space by bringing more outdoor accommodations online and offering an end-to-end travel experience that fulfills the guest journey.
According to Cavins, the company aims to continuously serve today’s consumer needs and expand its product offerings to build a truly outdoor-focused ecosystem.
Fast Company’s World’s Most Innovative Companies list is its signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy.
The recognition from Fast Company comes after a turbulent few years, shifting macro events, and soaring consumer demand for outdoor travel.
Outdoorsy’s resilience and ability to innovate during challenging times have earned the company a place among the world’s greatest innovators.