reThought Insurance is a tech-enabled Managing General Agent (MGA) focused on U.S. commercial flood risk. Launched in 2017 and based in Broomfield, Colo., it writes flood coverage for complex mid-tier commercial risks and high-net-worth properties and also offers business interruption insurance. The company is developing offerings for other perils beyond flood. Its proprietary model convergence engine allows targeting of complex risks including major public transit, underground parking garages and outdoor swimming pools. It can provide coverage up to tens of millions of dollars to work around the National Flood Insurance Program's $500,000 cap. The company intends to use proceeds to expand its sales team, technology and R&D and to grow in the flood insurance market. reThought Insurance (branded in the article as reThought Flood) is a Broomfield, CO-based, technology-centric MGA that focuses on commercial flood. The firm emphasizes advanced precision in underwriting, arguing that inches matter when assessing flood risk. It has developed a proprietary underwriting methodology and risk assessment technology to visualize, assess, underwrite and price commercial flood exposures. The company positions that its approach enables more accurate and profitable flood underwriting compared with conventional methods. In connection with its operations, reThought filed a Form D with the SEC for an equity round totaling approximately $1.8 million. The article does not provide additional operating metrics, investor names, or prior financing details.

Total raised

$17M

Funding rounds

2

Latest round

Series A

Latest activity

Aug 2021