About Jumpstart Insurance
Jumpstart Insurance is a benefit corporation founded with the social mission to increase economic stimulus following natural disasters such as earthquakes. Its goal is to give users enough money to cover their immediate needs after an earthquake. Its index-based approach delivers instant signup, affordable coverage, and automatic payout. On October 4th, 2021, Jumpstart Insurance was acquired by Neptune Flood. Terms of the transaction were not disclosed.
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Expert Collections containing Jumpstart Insurance
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Jumpstart Insurance is included in 1 Expert Collection, including Fintech.
Latest Jumpstart Insurance News
Oct 27, 2022
According to this report the parametric insurance market was valued at $11.7 billion in 2021, and is estimated to reach $29.3 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031. The term, parametric insurance describes a type of insurance contract that insures a policyholder against the occurrence of a specific event by paying a set amount based on the magnitude of the event, as opposed to the magnitude of the losses in a traditional indemnity policy. It is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. Trigger events depend on the nature of the parametric policy and can include environmental triggers, such as wind speed and rainfall measurements, business-related triggers such as foot traffic, and others. Parametric insurance can cover risks that are not otherwise easily insurable, and allow for more scientific pricing of products that respond to specific isolated parameters, rather than the physical losses, which are expected to result from any number of a wide range of occurrences. In addition, parametric insurance for building resilience is that a policy is capable of being triggered, not by the calamity itself (such as crop failure or the resulting human impacts), but by its forebear (such as inadequate rainfall), which through funding early intervention can minimize wider human and financial impacts and costs. Therefore, these are some of the factors propelling the market growth. However, basis risk can arise if an individual insured's loss experience does not correlate with the index payouts. In this case, some households that experience loss may not receive compensation while some who suffer no loss receive insurance payouts. Therefore, these are some of the major factors that limit the growth of the parametric insurance market. On the contrary, advances in technology have led to the new and exciting applications of parametric insurance principles which is emerging and growing faster than ever. Clients, brokers, insurers and investors have woken up to the possibilities of simpler, faster parametric insurance, and they are already experiencing the benefits. The rise in capital spending into parametric insurance firms is expected to fuel this growth. The parametric insurance market is segmented on the basis of type, industry vertical, and region. By type, it is segmented into natural catastrophes, specialty insurance, and others. By industry vertical, it is segregated into agriculture, construction, mining, manufacturing, energy and utility, aerospace and defense, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The report analyzes the profiles of key players operating in the parametric insurance market such as Allianz, AXA XL, Chubb, FloodFlash, Jumpstart Insurance Solutions, Inc., Berkshire Hathaway Specialty Insurance, Munich Re, Global Parametrics, Swiss Re, and Zurich American Insurance Company. These players have adopted various strategies to increase their market penetration and strengthen their position in the parametric insurance industry. Key Benefits For Stakeholders This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the parametric insurance market analysis from 2021 to 2031 to identify the prevailing parametric insurance market opportunity. The market research is offered along with information related to key drivers, restraints, and opportunities of parametric insurance coverage. Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. In-depth analysis of the parametric insurance market size segmentation assists to determine the prevailing market opportunities. Major countries in each region are mapped according to their revenue contribution to the global market. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players in parametric insurance market forecast. The report includes the analysis of the regional as well as global parametric insurance market trends, key players, market segments, application areas, and market growth strategies. Key Topics Covered: CHAPTER 4: PARAMETRIC INSURANCE MARKET, BY TYPE 4.1 Overview 4.2 Natural Catastrophes Insurance 4.2.2 Market size and forecast, by region 4.2.3 Market analysis by country 4.3 Specialty Insurance 4.3.2 Market size and forecast, by region 4.3.3 Market analysis by country 4.4 Others 4.4.2 Market size and forecast, by region 4.4.3 Market analysis by country CHAPTER 5: PARAMETRIC INSURANCE MARKET, BY INDUSTRY VERTICAL 5.1 Overview 5.2 Agriculture 5.2.2 Market size and forecast, by region 5.2.3 Market analysis by country 5.3 Aerospace & Defense 5.3.2 Market size and forecast, by region 5.3.3 Market analysis by country 5.4 Mining 5.4.2 Market size and forecast, by region 5.4.3 Market analysis by country 5.5 Construction 5.5.2 Market size and forecast, by region 5.5.3 Market analysis by country 5.6 Energy & Utiities 5.6.2 Market size and forecast, by region 5.6.3 Market analysis by country 5.7 Manufacturing 5.7.2 Market size and forecast, by region 5.7.3 Market analysis by country 5.8 Others 5.8.2 Market size and forecast, by region 5.8.3 Market analysis by country CHAPTER 6: PARAMETRIC INSURANCE MARKET, BY REGION CHAPTER 7: COMPANY LANDSCAPE
Jumpstart Insurance Frequently Asked Questions (FAQ)
When was Jumpstart Insurance founded?
Jumpstart Insurance was founded in 2015.
Where is Jumpstart Insurance's headquarters?
Jumpstart Insurance's headquarters is located at 344 Thomas L Berkley Way, Oakland.
What is Jumpstart Insurance's latest funding round?
Jumpstart Insurance's latest funding round is Acquired.
How much did Jumpstart Insurance raise?
Jumpstart Insurance raised a total of $2.24M.
Who are the investors of Jumpstart Insurance?
Investors of Jumpstart Insurance include Neptune Flood and Plug and Play Accelerator.
Who are Jumpstart Insurance's competitors?
Competitors of Jumpstart Insurance include New Paradigm Group and 3 more.
Compare Jumpstart Insurance to Competitors
EIS is an insurance software company that enables insurers to operate like a tech company: fast, simple, agile. EIS provides a platform for high-velocity insurance. This open, flexible platform of core systems and digital solutions liberates insurers to launch products faster, deliver new revenue channels, and create insurance experiences. With thousands of open APIs, the platform gives insurers the freedom to connect to a vast ecosystem of insurtech and emerging technologies.
Unqork operates as a no-code, software-as-a-service (SaaS) platform that digitizes the client lifecycle. The company's patent-pending technology includes advanced calculations, decisions, UI design and workflow for risk assessment and digitization layered on top of legacy IT systems. The company serves financial services and insurance companies to bring complex, regulated products to market without writing a single line of code. The company was founded in 2017 and is based in New York, New York.
Sunlight Solutions provides insurance providers with a cloud-based suite that supports all insurance products. The platform offers insurance processing and policy administration services. Its headquarters are in Paris, France.
Jarus Technologies offers automation of business processes for the insurance sector.
Socotra is a cloud-based, productized insurance core platform that enables carriers to easily and efficiently manage complex interactions throughout the lifecycle of policies, whether single line, single state or multi-line, multi-country. The platform supports underwriting, policy administration, claims, billing, reporting, and more.
UnderwriteMe offers life insurance applications including protection platforms, underwriting rules engines and business analytics. It is based in London, England.
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