Associated tags: Intelligence, AM Best, Insurance, General agent, MGA, Rest, Guy-wire, Reinsurance, Lloyd's of London, SAN, Digital, Algorithm
Locations: LONDON, DELOS, CALIFORNIA, UNITED STATES, LLOYD, SAN FRANCISCO
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CO SAN FRANCISCO, April 30, 2024 /PRNewswire/ -- Delos Insurance Solutions, which uses wildfire science and satellite imagery expertise to solve homeowners' wildfire insurance availability issues, today announced it will offer wildfire insurance to more California policyholders with vacant properties. Delos is expanding its coverage availability through a new partnership with certain underwriters at Lloyd's of London. Delos is one of a select number of Lloyd's coverholders in the United States, which are authorized to place business into the world's oldest insurance marketplace.
Key Points:
- Delos is expanding its coverage availability through a new partnership with certain underwriters at Lloyd's of London.
- Delos is one of a select number of Lloyd's coverholders in the United States, which are authorized to place business into the world's oldest insurance marketplace.
- The U.S. Census Bureau's definition of vacant homes includes unoccupied secondary homes and rentals, abandoned or foreclosed homes, and investment properties.
- We are committed to creating insurance products that will help more homeowners in California, who may otherwise go uninsured, find insurance coverage."
Retrieved on:
Friday, November 10, 2023
Exavalu implemented a non-admitted homeowners' product on the Guidewire InsuranceNow platform with a full-range of capabilities covering new business issuance, rating, endorsements, renewals, billing, forms and rating.
Key Points:
- Exavalu implemented a non-admitted homeowners' product on the Guidewire InsuranceNow platform with a full-range of capabilities covering new business issuance, rating, endorsements, renewals, billing, forms and rating.
- Exavalu worked closely with Guidewire and Delos to successfully deliver the implementation in an accelerated timeframe within six months from inception to product launch.
- Exavalu brought expertise in Insurance advisory, core & digital implementations, and Guidewire InsuranceNow cloud platform that helped with a smooth implementation.
- Exavalu is honored to have partnered with Delos to rapidly launch products that meets the needs of wildfire exposed at-risk homeowners in California."
Retrieved on:
Tuesday, November 15, 2022
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Reinsurance SAN FRANCISCO, Nov. 15, 2022 /PRNewswire/ -- Delos Insurance Solutions, which uses wildfire science and aerospace expertise to solve insurance availability and affordability issues, today announced the launch of a program to expand homeowners' insurance options for California homeowners facing wildfire risks and provide full home insurance policies to homeowners currently on the California Fair Access to Insurance Requirements (FAIR) Plan. Delos has partnered with A-rated insurance and reinsurance companies, as well as Gallatin Point Capital LLC, to provide backing for this program.
Key Points:
- SAN FRANCISCO, Nov. 15, 2022 /PRNewswire/ -- Delos Insurance Solutions, which uses wildfire science and aerospace expertise to solve insurance availability and affordability issues, today announced the launch of a program to expand homeowners' insurance options for California homeowners facing wildfire risks and provide full home insurance policies to homeowners currently on the California Fair Access to Insurance Requirements (FAIR) Plan.
- Delos has partnered with A-rated insurance and reinsurance companies, as well as Gallatin Point Capital LLC, to provide backing for this program.
- Under the agreement, Delos will have increased capacity to underwrite homeowners' insurance for more than 15,000 FAIR Plan policyholders through the newly created California FAIR Plan Clearinghouse.
- Delos Insurance Solutions uses cutting-edge technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk.
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Industry Delos Insurance Solutions (Delos), a technology-powered insurance provider, and Guidewire (NYSE: GWRE) announced that Delos selected InsuranceNow to increase agent digital engagement for business growth.
Key Points:
- Delos Insurance Solutions (Delos), a technology-powered insurance provider, and Guidewire (NYSE: GWRE) announced that Delos selected InsuranceNow to increase agent digital engagement for business growth.
- The company plans to implement InsuranceNow to its homeowners line of business in the state of California.
- Delos is a managing general agent (MGA) focused on providing property insurance in catastrophe-affected areas.
- Delos Insurance Solutions uses cutting-edge technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk.
Retrieved on:
Wednesday, December 1, 2021
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Reinsurance SAN FRANCISCO, Dec. 1, 2021 /PRNewswire/ -- Delos Insurance Solutions, a catastrophe insurance managing general agency (MGA) with a specialty in California wildfire-related risks, today announced that its seed funding round has closed.
Key Points:
- SAN FRANCISCO, Dec. 1, 2021 /PRNewswire/ -- Delos Insurance Solutions, a catastrophe insurance managing general agency (MGA) with a specialty in California wildfire-related risks, today announced that its seed funding round has closed.
- "Delos, combining their technology, insurance, and wildfire experience, is writing this coverage line profitably and their catastrophe insurance modeling shows great potential," said Steve Bernardez, Partner at Avanta Ventures.
- IA Capital is dedicated to partnering with innovative entrepreneurs in venture and growth capital investments across insurtech and fintech.
- As the venture capital arm of CSAA Insurance Group, Avanta Ventures empowers startups to bring fresh ideas forward in the areas of technology, insurance, and beyond.
The unexpected changes over the last five years have driven many insurance carriers to pull back from large segments of the California homeowners insurance market, creating a crisis of insurance availability and affordability for millions of California families living in wildfire-stressed areas.
Key Points:
- The unexpected changes over the last five years have driven many insurance carriers to pull back from large segments of the California homeowners insurance market, creating a crisis of insurance availability and affordability for millions of California families living in wildfire-stressed areas.
- Many insurance carriers have decided that homes in areas potentially exposed to wildfire are uninsurable or not insurable at affordable rates.
- "More than ever, California homeowners need reliable insurance protection at a more affordable price," according to Kevin Stein, co-founder and CEO of Delos Insurance Solutions.
- Delos Insurance Solutions uses cutting-edge technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk.
b'SAN FRANCISCO, April 27, 2021 /PRNewswire/ --Delos Insurance Solutions, using aerospace expertise to solve insurance availability and affordability issues, today announced an agreement with A+-rated reinsurance companies that will result in a five-fold increase in insurance capacity for California homeowners in areas prone to wildfires.
Key Points:
- b'SAN FRANCISCO, April 27, 2021 /PRNewswire/ --Delos Insurance Solutions, using aerospace expertise to solve insurance availability and affordability issues, today announced an agreement with A+-rated reinsurance companies that will result in a five-fold increase in insurance capacity for California homeowners in areas prone to wildfires.
- The Delos model identifies homes in stressed areas of California that cannot find insurance protection but are not highly exposed.
- With this knowledge, Delos underwriters can confidently insure homes that other insurance providers consider too risky.\n"Many people living in wildfire-stressed areas simply cannot find reasonably-priced homeowners insurance, if they can find insurance at all," says Kevin Stein, CEO and co-founder of Delos.
- "\n"This new capacity means that many more California homeowners will now be able to buy insurance to protect what for many people is their largest investment.
