FutureProof Technologies develops AI-powered models that project asset-level losses from hurricane wind and flood to power a new generation of insurance underwriting. Its models use a broader swath of predictors to produce high-resolution, highly accurate out-of-sample predictions. The company's algorithmic underwriting enables carriers and wholesale brokers to select, price, and manage weather- and climate-related P&C risk more profitably and in near real time. FutureProof positions its products to help close the coverage gap and to create incentives for climate adaptation. The team is composed of insurance veterans, data scientists, economists, and climate scientists, including co-founder and Chief Insurance Officer Fid Norton, formerly Chief Risk Officer at XL Catlin. The company says the latest capital will support hiring in underwriting, portfolio risk management, and engineering and the launch of a digital MGA later this year; the raise brought total capital raised to nearly $10 million.

Total raised

$7M

Funding rounds

1

Latest round

Equity

Latest activity

May 2022