Adaptive Insurance aims to revolutionize how businesses build financial resilience in the face of climate and weather-related events, starting with parametric insurance. Big words. We believe we can back them up by using our combination of novel coverages, real-time climate data, and AI-driven technology to bring the value of parametric insurance to the business consumer. Starting with our short-term power outage coverage, Adaptive uses the simplicity of parametric insurance - verified trigger events and agreed-upon payment amounts - to help provide a financial safety net against unpredictable weather events that impact businesses. Power outages cost American businesses over $150 billion annually. As the frequency and cost of climate change continues to increase, so too does the strain on resources to protect or rebuild, contributing to increasing insurance costs and decreasing coverage. With Adaptive’s climate resiliency solutions, we can help businesses quickly get back on their feet and gain the upper hand on Mother Nature.
External link for Adaptive Insurance
Dave Wechsler and Michael Gulla together - this will be a really fun conversation. Can't wait 🔥 🔥 🔥
Super excited to welcome Michael Gulla on Insurtech Rap this week - LIVE Thursday 2-2:30pm ET. Michael recently founded Adaptive Insurance and will be sharing his insights on starting a new insurtech and the state of parametric insurance. The link to join is in the comments below - see you Thursday 2-2:30pm ET.
Thank you Insurtech Insights for sharing the news about what Adaptive is building
Adaptive Insurance has unveiled a groundbreaking parametric insurance platform powered by artificial intelligence (AI), aimed at transforming how businesses manage climate-related risks. “We’ve seen it all across the U.S. – climate change is accelerating faster than the insurance industry can adapt, and businesses are paying the price,” stated Michael Gulla, CEO and Co-Founder of Adaptive Insurance. He added, “We designed GridProtect to fill a critical void in the market. With our AI-powered platform, businesses can now insulate themselves from the financial shock of power outages the moment they occur—less waiting, less uncertainty.” Adaptive Insurance is among the first companies to emerge from Montauk Climate, an incubator dedicated to climate technology. Philip Krim, Founder and Partner at Montauk Climate, remarked, “Climate and weather events cause $1 billion in damage every three weeks in the U.S.” Read the full story here: https://lnkd.in/gxCvk2jS #insurtechinsights #insurance #insurtech #productlaunch #AI #climate
We’re thrilled to introduce Adaptive Insurance, a climate resiliency company building a platform that helps businesses protect themselves financially against the business interruptions caused by climate-related events, starting with our parametric insurance solutions. With weather costing U.S. businesses $1B every three weeks (and 40% of losses are not covered), Adaptive is well positioned to address the growing demand to cover gaps left by traditional insurance. Beginning with our short-term power outage coverage, Adaptive uses the simplicity of parametric insurance - verified trigger events and agreed-upon payment amounts - to help businesses quickly get back on their feet. Our co-founders, Michael Gulla and Arik Yelovitch, are equally thrilled to join forces again and are grateful for the support and confidence from Montauk Climate as our team brings this vision to life. We’re already looking forward to sharing more news about what we’re building and who’s coming along for the ride. Read more: https://lnkd.in/eY_Nu_n5 #parametricinsurance #climatetech #climateresilience