A climate-focused insurance startup has raised $500 million to provide coverage for properties that traditional insurers have abandoned, using AI-powered risk modeling and reinsurance partnerships to make coverage viable.

The Model

The company uses satellite data, climate models, and property-specific risk analysis to price coverage more accurately than traditional insurers. Homes that were quoted $10,000+ by standard insurers can get coverage for $3,000-5,000.

Coverage Areas

Initial focus includes wildfire zones in California, hurricane-prone Florida coasts, and flood-risk areas in the Gulf states where major insurers have pulled out.