Today, we're announcing Stand: property insurance for those impacted by climate-driven disasters. The growing impacts of wind, wildfire, and flood are pushing insurers out of markets, when that safety net is needed most. This can't be solved with insurers' typical tools.
$22T of home value is at risk from climate catastrophes. As these grow, insurers are rapidly updating risk models, pushing rates up and availability down. But this ignores a critical truth: it's not just the location that matters, it's also the structural resilience of the home.
Stand treats every home as unique: we create a physical simulation of each home to identify the specific causes of loss. This lets us help homeowners adapt while protecting the character of a property— not requiring them to turn their home into a concrete bunker.
One of the most underused tools for insurers is to work *with* customers to help them avoid a loss in the first place. For homeowners today, the opposite is happening: insurers are looking for any reason they can to drop coverage in favor of lowering their exposure.
We're starting by launching homeowners insurance in California, where wildfires have become the proximate cause in a massive availability crisis in the state. We believe by working with homeowners, we can help them not only insure their homes, but help them make them safer.
I'm joined by my co-founders Jason Mueller, Sam Shank, Bill Clerico,
and an incredible team. Each of them have built wonderful businesses in some of the most challenging industries. They also happen to be wonderful people!
Read more here --
https://lnkd.in/ePEiqf2w