Delos Insurance Solutions has partnered with certain underwriters at Lloyd’s of London to offer wildfire insurance to more California policyholders with vacant properties.
The partnership is driven by the goal of addressing the significant wildfire insurance gap faced by homeowners in California.
Delos specialises in using wildfire science and advanced data analytics to assess risk and provide tailored insurance solutions, while Lloyd’s of London brings its extensive experience and global reach to the partnership.
By working closely with carrier partners and leveraging its expertise in wildfire risk assessment, Delos aims to offer innovative insurance products that bridge the gap between traditional homeowner’s policies and the unique needs of homeowners in wildfire-prone areas.
In a statement, Kevin Stein, CEO and Co-Founder of Delos Insurance Solutions, highlighted the importance of the partnership, stating, “The Lloyd’s underwriters we are working with have established successful books of vacant home business in California, and we are excited to partner with them to use their strong market foundation to safely grow the business. With this product and the partnership with Lloyd’s underwriters, we can help homeowners fill the coverage gap that exists between their traditional homeowner’s policy and their vacancy status. We are committed to creating insurance products that will help more homeowners in California, who may otherwise go uninsured, find insurance coverage.”
Delos Insurance Solutions integrates wildfire science expertise and data from its suite of wildfire models into its underwriting and portfolio management processes.
Its proprietary technology enables the identification of properties in stressed areas that pose a low risk of loss due to wildfires, allowing the company to offer coverage where traditional insurers may hesitate.
As a specialist managing general agent, Delos has the flexibility to update its predictive wildfire model’s data set rapidly, allowing for timely adaptation to evolving wildfire risks.
This agility, combined with Lloyd’s of London’s market foundation, positions Delos Insurance Solutions to make meaningful contributions to wildfire insurance availability in California.
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