InsurTech NY News: Going Bare on Homeowner’s Insurance

Carriers dropping out of markets and approval of new rate increases are having unintended consequences on the homeowner’s insurance markets.

Homeowners are now deciding to “go bare” and forego homeowner’s insurance completely. According to Axios, almost 40% of homes in the US are mortgage-free, so they don’t have lender requirements. As a result, data from III shows that 12% of homeowners are not covered with insurance, more than double the 5% rate just a few years ago.

This change in the market is an opportunity for startups.

It is an opportunity because startups that are selling into difficult markets like Greenshield Risk, SPIN, and Sola – graduates of our MGA Lab – can capture market share and benefit from high rates while incumbents stay out of the market.

Beyond broadening the market, our hope is we can take long-term view and focus on risk mitigation. Solutions like creating defensible space and hardening properties will allow homeowners to rest assured and afford protection.

If you are curious about some of the startups shaking up the space, join us to meet some of them at our InsurTech Spring Conference.

As a regular newsletter subscriber, you can save 10% off tickets with code “Go-Bare”.

Register and learn more at: https://www.insurtechny.com/insurtech-spring-conference/

Spotlight: InsurTech Slopes 2024

On Jan 31, 20 founders and investors gathered in Montana to forge new relationships. This event was the sixth in a series of small group events we have been holding under the InsurTech Founder and Investors Forum Series.

The summer edition, InsurTech Rapids has just been announced; learn more and join the waitlist: InsurTech Rapids.

Upcoming InsurTech Community Events and Programs

InsurTech Spring Conference
Mar 20-21 | 2 Days | Pier 60
– 1000+ influencers, 100+ speakers, 10 startup presentations, + expo hall

The Sound of Underwriting
Jun 4 | Flatiron District, NYC
– Learn how underwriters think about entertainment + listen to an InsurTech musician

InsurTech NY Sponsors

Thank you to sponsors of our upcoming InsurTech Spring Conference.

If you are interested in sponsoring our events? Make a request here

InsurTech East Coast Deals, Partner Events, and Open Roles

Discover a curated mix of InsurTech financings, exits, partnerships, opportunities, and partner events on the East Coast.

InsurTech News and Deals

• Buddy ($7M, Sequoia Capital): VA-based insurance gateway for software companies.
• Cake ($1.3M, Markd): IN-based transactional marketplace for independent insurance agents
• Kin ($15M, Activate Capital): IL-based home insurance provider

Partner Events and Programs

• Data Innovation in Insurance (Mar 5-6)
• InsurTech Hartford Symposium (Apr 17-18)
• NY DFS Exchange (Jun 30)
• InsurtechLIVE 24 Conference (Feb 13)
• RevTech Labs – NYC Fintech Pitch Event (Apr 11)
• RevTech Labs – Fintech + Insurtech Generations (Jun 12-13)

See more information about our partner events here: https://www.insurtechny.com/upcoming-insurtech-conferences/

Jobs In Carrier/Broker Innovation and Venture Teams

Anansi – Strategic Account Manager
Extend – Actuarial Manager
Gallagher – Client Service Positions
Lockton – Personal Risk (High Net-Worth) Sales Executive

See more information and apply via our blog: https://www.insurtechny.com/jobs

Consider Sponsoring InsurTech Spring

Has the InsurTech NY community helped you make a lasting connection? Do you want an opportunity to get your brand out there? Show your support for InsurTech NY by sponsoring our Spring Conference on March 20-21. To learn more or request information reach out to contact@www.insurtechny.com