Stand Insurance

✍️ Notes from the Editors

Good morning from NYC! 🗽

We’re busy prepping for our founder dinner later tonight. If you’re in town this week and want to say hi, reply and we’ll grab a coffee.

This week’s company is close to home for us—quite literally. Beyond the immediate consequences of the LA fires, large regions of the city are now considered “uninsurable” for future purposes. Stand is betting that a better modeling scenario might make the uninsurable, in fact, insurable.

- Arek and Ethan 🦄

Insuring high-risk homes

Stand is a San Francisco-based homeowner’s insurance startup that is attempting to transform the way high-value property is insured. It aims to service high-value properties in regions prone to climate or environmental disasters. Stand employs a personalized approach, assigning dedicated teams to assess individual property risks and collaborate with homeowners on mitigation strategies. The company leverages AI and physics potential to protect and insure a property based on its specific features rather than a singular factor such as location.

🔗 Check it out: standinsurance.com

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💰 Business Model

Stand operates as a managing general agent under Concert Group, a well-established leader in underwriting and risk management. Concert group’s deep industry expertise and robust capital support enable Stand to target homes valued between $2 million and $10 million. Stand also leverages its expertise to offer consulting solutions to government agencies, insurance agents, real estate professionals, construction and resiliency contractors, and other industry stakeholders.

📈 Traction and Fundraising

• Raised a $30 million Series A round from Inspired Capital Partners, Lowercarbon, Leap Forward Ventures, Jackson Square Ventures, Equal Ventures, and Convective Capital

• Expecting to insure hundreds of homes worth more than $2 billion over the next year in wildfire risk zones in California

👫 Founders

💼 Opportunities

• Risk Manager (Field)

• Full Stack Software Engineer

• Data Scientist (Builder)

• Data Scientist (R&D)

• E&S High Value Homeowners Underwriter

• Head of Mitigation

🔮 Our Analysis

In the broader U.S. homeowners insurance market, climate change is reshaping risk at an unprecedented scale. Traditional insurers are pulling back from high-risk regions, with recent LA fires causing over 16,000 families to lose their homes and underscoring the urgent need for innovative coverage solutions. Familiar national names like Allstate and State Farm have halted new policies or exited wildfire and hurricane zones—leaving coverage gaps in a $200+ billion annual market​ while placing significant emotional stress on homeowners unable to secure coverage.

With nearly 40 million American homes facing heightened climate-related insurance risks, the need for climate-resilient underwriting has never been greater. Stand’s data-driven approach to model hazards allows it to underwrite homes deemed “uninsurable” by others. Crucially, Stand doesn’t just insure—rather, it partners with homeowners to harden their properties against disasters, then prices coverage to reflect those efforts.

All the ingredients for unicorn status are on Stand’s side: a massive market need, novel technology, and timing that aligns with industry upheaval. If Stand can scale its success in California to other catastrophe-prone states, it may well become a category-defining player in climate-smart insurance. 

In a world of escalating wildfires and hurricanes, Stand’s unicorn potential lies in its ability to insure the uninsurable—and in doing so, set a new standard for an entire industry.

📚 Further reading

• Insurance Startup Stand Has a Plan to Cover ‘Uninsurable’ Homes [WSJ]

• How a Startup Plans to Offer Coverage to High-Risk Homeowners Dropped by Big Insurers [Inc. Magazine]

• How Geocoding and Location Data Are Transforming Insurance Underwriting and Pricing [Korem]

Written by Manvel Muradyan

🥲 That’s all, folks

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