Delos Insurance Solutions, a San Francisco, CA-based insurance protection company, raised $7.3M in Seed funding.
The round was led by IA Capital Group with participation from Blue Bear Capital, Gallatin Point Capital, Generation Space through Seraphim Space Investment Trust PLC, Avanta Ventures, Red Dog Capital, DNX Ventures, Robert Glanville, and Jonathan Crystal.
The company intends to use the funds for its expansion across the California homeowners’ insurance market.
Led by CEO Kevin Stein, Delos Insurance Solutions provides technology to offer insurance protection to homeowners in communities abandoned by other insurers because of wildfire risk. It uses satellite imagery and artificial intelligence to identify insurable homes within territories deemed too risky by the rest of the insurance market. The platform aggregates and analyzes exposure and concentration data to quantify a home’s actual wildfire risk. It’s enabled by a proprietary geospatial AI algorithm and more than two hundred data layer inputs, such as detailed weather and wind data, drought and precipitation history, and multi-level overlays of amount, type, and health of vegetation.
The Delos approach vertically integrates its wildfire science expertise and data from its full suite of wildfire models. This empowers the company to pinpoint properties in “stressed” areas – ones the traditional market is avoiding due to potential wildfire concerns – that do not pose a high risk of loss and offer those homeowners full insurance coverage.
FInSMEs
14/09/2023