Finally able to take the wraps off this one ... Property insurance holds up so much of our modern world, in ways most people do not directly see. Yet you cannot get a mortgage without it, you cannot grow your business without it, and property insurance is at the center of a multi-trillion $ world of reinsurance, options contracts, and bonds that power financial liquidity globally. Unfortunately, climate change is fueling more dynamic and intense wildfires (and other catastrophes), stressing insurance in many markets, and undermining access to this financial system for millions of ordinary people. In California alone, 1/3 of homeowners live in areas the incumbent insurance industry has written off as high-risk, forcing >408,000 customers with $393bn of insurable loss value, onto the State's plan-of-last-resort. This is unsustainable. Thankfully, Delos Insurance Solutions is plugging this gap one policy at a time, bringing the full weight of their AI and advanced data science to forecasting wildfire risks. More than this, they are leading by servicing the home insurance market directly, instead of waiting for others to do the work. My team and I are excited to be supporting Kevin Stein, Shanna McIntyre, and the whole Delos team as they expand their accessible and affordable property insurance products to homeowners and businesses across the US.
We have a little secret... and we’re excited to share it! Delos Insurance Solutions has raised $9 million in Series A funding! This achievement was made possible through the support of our lead investor, HSBC Asset Management, along with IA Capital Group, Blue Bear Capital, Seraphim Space, and other valued angel investors. Want to know more about this exciting step forward? Check out the full announcement on #PRNewswire! #DelosInsurance #SeriesAFunding #WildfireProtection #HSBC #InsuranceInnovation #PRNews
Congrats Mike!
Thank you, Michael D'Aurizio! We couldn't be more excited to be working with you and the HSBC team!
Let's go!
Venture Capital Leader | Future of Mobility, Climate & Insurtech | Strategy, Innovation, & Digital Transformation
1wCongratulations, Kevin Stein, Shanna McIntyre, and Delos Insurance Solutions team! Best wishes for your continued success The Delos team is innovatively solving a tremendous problem to enable homeowners in wildfire-prone property markets like CA to obtain property insurance! #insurtech #innovation