FutureProof, a climate-smart property & casualty (P&C) insurtech, has appointed Joseph Strickland as Head of Underwriting.
He joins from AIG’s Lexington Specialty Insurance Agency where he served as Senior Vice President for Wholesale Property. Within that role he led regional property teams across the US.
“Joe’s unique combination of Florida knowledge, deep experience delivering E&S products through wholesale distribution, and passion for climate-smart underwriting make him a perfect fit for FutureProof,” said FutureProof Co-Founder and CEO, Alisa Valderrama.
Addressing his appointment, Strickland, said: “I am thrilled to join this team of such accomplished professionals who are dedicated to delivering a new and sustainable underwriting approach to a market in desperate need. FutureProof’s unique modeling and pricing capabilities are poised to bring Florida homeowners, brokers and the wider insurance sector more reliable solutions in what has recently been one of the most vulnerable markets in our industry.”
Fid Norton, FutureProof Co-Founder and Chief Insurance Officer, also commented: “We are thrilled to welcome an underwriter of Joe’s caliber to FutureProof. Joe’s underwriting acumen, coupled with our next-generation hurricane model, will help us to address the crisis in the Florida homeowners insurance market.
“Our digital platform, powered by our model, will price and manage risk more profitably, because our model quantifies climate risk and social inflation factors such as litigation and assignment of benefits with unprecedented granularity, so we can offer a more accurate price signal to the market.”
Furthermore, FutureProof has now raised nearly $10 million in venture funding. It’s most recent capital raise of $6.5 million was backed by AXIS Digital Ventures.
The company will enter the market later this year, offering Florida E&S homeowners insurance quotes through its algorithmic underwriting and pricing platform.
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