SAN DIEGO–(BUSINESS WIRE)–#climaterisk–Climate-smart P&C insurtech FutureProof announced that Joseph Strickland has joined the company as Head of Underwriting. Backed by Axis Digital Ventures as well as MS&AD Ventures, FutureProof has raised nearly $10M in venture funding and will enter the market later this year, offering Florida E&S homeowners insurance quotes through its algorithmic underwriting and pricing platform.
Strickland was previously Senior Vice President for Wholesale Property at AIG’s Lexington Specialty Insurance Agency, where he led regional Property teams across the United States.
“Joe’s unique combination of Florida knowledge, deep experience delivering E&S products through wholesale distribution, and passion for climate-smart underwriting make him a perfect fit for FutureProof,” said FutureProof Co-Founder and CEO, Alisa Valderrama.
Fid Norton, FutureProof Co-Founder and Chief Insurance Officer, added: “We are thrilled to welcome an underwriter of Joe’s caliber to FutureProof. Joe’s underwriting acumen, coupled with our next-generation hurricane model, will help us to address the crisis in the Florida homeowners insurance market. Our digital platform, powered by our model, will price and manage risk more profitably, because our model quantifies climate risk and social inflation factors such as litigation and assignment of benefits with unprecedented granularity, so we can offer a more accurate price signal to the market.”
Strickland commented: “I am thrilled to join this team of such accomplished professionals who are dedicated to delivering a new and sustainable underwriting approach to a market in desperate need. FutureProof’s unique modeling and pricing capabilities are poised to bring Florida homeowners, brokers and the wider insurance sector more reliable solutions in what has recently been one of the most vulnerable markets in our industry.”
FutureProof’s AI-powered projections of asset-level losses from hurricane wind and flood are helping power a new generation of insurance underwriting. FutureProof’s climate-smart insurance products will help close the coverage gap and motivate investment in climate adaptation.
Alisa Valderrama at firstname.lastname@example.org