FutureProof Technologies, Inc

FutureProof Technologies, Inc. is an Insurtech Managing General Agent (MGA) that leverages AI technology to provide innovative insurance solutions, focusing on competitive pricing for resilient structures in disaster-prone areas. Founded in 2019 and headquartered in San Diego, US, FutureProof Technologies, Inc. operates as an Insurtech MGA, offering specialized insurance solutions.

The company has raised a total of USD 6. 5 mn across multiple funding rounds, with the latest round on April 19, 2022, led by AXIS Digital Ventures and included investors such as Innovation Endeavors and MS&AD Ventures. The leadership team includes CEO Alisa Valderrama and co-founders Alexander Gelber, Malika White, and Sarah Waddington. FutureProof Technologies, Inc.

specializes in delivering innovative insurance solutions through its core product, which operates as an Insurtech Managing General Agent (MGA). The company utilizes advanced AI-based technology to offer unique pricing granularity and near-real-time quotes, aimed at providing lower-priced insurance options for resilient structures in disaster-prone areas. This approach addresses significant challenges within the insurance sector, such as the escalating premiums driven by frequent weather disasters and the resulting financial burdens on consumers due to uninsured losses. FutureProof's target clientele includes policyholders seeking affordable insurance, brokers utilizing the company's API for efficient business acquisition, and carriers and reinsurers looking to enhance their capital returns based on improved risk selection.

The geographic markets served by FutureProof encompass regions significantly affected by natural disasters. FutureProof Technologies operates under a transaction structure that involves partnerships with brokers and direct interactions with consumers, positioning itself within a B2B framework. The company's revenue generation is primarily derived from the insurance premiums paid by policyholders, who benefit from competitive pricing due to the innovative risk assessment techniques employed. While specific pricing plans for their insurance products are not disclosed, the company's offerings are designed to appeal to both individual clients seeking personal coverage and businesses looking for comprehensive insurance solutions.

The collaboration with brokers and insurance carriers facilitates a streamlined process by which consumers can obtain quotes and coverage, fostering a robust ecosystem that enhances overall revenue potential. FutureProof's emphasis on resilience and affordability aligns with increasing consumer demand for viable insurance options in high-risk areas. In April 2022, FutureProof Technologies, Inc raised USD 6. 5 mn in venture funding led by AXIS Digital Ventures, with participation from other investors such as RWT Horizons and Thirdstream Partners.

The company plans to utilize this funding to expand its team in portfolio risk management and engineering talents. FutureProof is focused on launching new insurance products designed to enhance affordability and accessibility for consumers in disaster-prone areas. Additionally, the company aims to expand into new geographic markets that have been significantly affected by natural disasters.