A firm that wants to make a name for itself as the first parametric insurtech in the U.S. for earthquakes has officially launched in California, over a year after its anticipated original launch date.
Jumpstart Insurance Solutions Inc., a licensed surplus lines insurance broker using Lloyd's capacity, will offer earthquake insurance in California in the form of a parametric product, with payments linked to a formula and based on U.S. Geological Survey earthquake measurements.
Customers can sign-up online for the product through Jumpstart's website, and policies will be underwritten and...
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