Climate property risk analytics: Faura
The startup, which had a $500,000 funding round with Metaprop and others earlier this year, offers climate and property risk analytics for MGAs, carriers and agencies to reduce natural disaster risk exposures. "For resilience, understanding a building and what components of the building correlate to how likely it is to survive," said Valkyrie Holmes, co-founder and CEO of Faura.
Auto and home insurance verification: Modives
What began out of frustration with waiting to be verified to buy a car turned into an insurtech startup that now serves most of the U.S. for both auto and home insurance verification. The insurtech, founded in 2022, connects directly to insurance carriers to check that a car buyer's insurance coverage is active, accurate and adequate.
Embedded insurance: Walnut
The Toronto-based embedded insurance platform startup aims to make the distribution format more profitable for insurers and better at serving policyholders.
Cyber risk assessment: KYND
Recognized as one of the leading global insurtechs of 2024, KYND helps demystify complex cyber risk analysis. "We provide technographic mapping and active portfolio monitoring of cyber risks. It's a full end-to-end underwriting workbench, from understanding insurers and avoiding adverse selection to improving posture in control and risk," said Ben Duffy, KYND's head of North America.
Flood risk analysis: 7Analytics
7Analytics, founded in Norway in 2020, focuses on specific high-resolution land and building images and data for sophisticated conclusions about flood risks. With 4 million euro in funding led by Scale Capital in May 2024, the startup, founded in 2020, is entering the U.S. following the severe flooding from hurricanes
Commercial underwriting: Send
In 2017, the three founders of Send–Andy Moss, Ben Huckel and Matt McGrillis–had a vision to reshape and enhance the underwriting processes of commercial insurers.
