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Understory

understory.ai

Stage

Incubator/Accelerator | Alive

About Understory

Understory rapidly monitors and quantifies discrete landscape changes to mitigate the effects of environmental change and deliver actionable information for land management, habitat conservation and climate risk assessment. Understory is based in Pacific Grove, California,

Headquarters Location

Pacific Grove, California,

United States

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Expert Collections containing Understory

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Understory is included in 1 Expert Collection, including Decarbonization Tech.

D

Decarbonization Tech

276 items

Companies developing tech to decarbonize operations.

Latest Understory News

Skyward Specialty & Understory launch captive solution for auto dealer market

Nov 15, 2022

Reinsurance News Skyward Specialty Insurance Group and Understory Inc. have partnered to launch a new insurance solution to help U.S. automotive dealerships control the rising cost and instability of inventory coverage. The new solution combines Understory’s weather technology and expertise in risk mitigation with Skyward Specialty’s underwriting, claims and captive experience to pioneer a mutualised captive property insurance structure. Skyward states that the program is member-owned and controlled, allowing dealerships to make decisions to enhance their asset protection. Additionally, the program’s members share in underwriting profits, which it suggests standard insurance companies typically retain. Alex Kubicek, co-founder and CEO of Understory, commented, “To date, insurers haven’t addressed the growing threat of hail, which is the biggest risk within standard open lot coverage. Instead, they have asked dealerships to write bigger checks for less coverage. “We’re thrilled to partner with Skyward Specialty to deliver this innovative solution. Marrying our weather modelling and technology with their track record and expertise in P&C and captives solves dealerships’ ongoing struggle to find superior coverage in a market that continues to see increasing rates and volatility from standard DOL models.” Andrew Robinson, CEO at Skyward Specialty, added, “The severity and unpredictability of hailstorms and other risks have driven the market to provide inadequate insurance solutions for dealerships. We are proud to partner with Understory to create an unmatched innovative risk solution to solve this challenge. “Applying this level of data science to solve the climate challenges unique to this market and combining it with our highly specialised underwriting and claims talent will ultimately reinvent risk management and risk transfer for owners of automotive dealerships. Our partnership with Understory is another example of our strategy in action.” The program launched on September 1, 2022, with Skyward suggesting that it already has its first members, along with a pipeline of potentials generated in partnership with a select group of specialty DOL brokers. The firm adds that the program is also backed by several of the industry’s top reinsurers, who have an A- A.M. Best rating or better.

Understory Frequently Asked Questions (FAQ)

  • Where is Understory's headquarters?

    Understory's headquarters is located at Pacific Grove.

  • What is Understory's latest funding round?

    Understory's latest funding round is Incubator/Accelerator.

  • Who are the investors of Understory?

    Investors of Understory include Google for Startups Accelerator.

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