Announcing our Expansion to New Zealand!
We're thrilled to announce the launch of parametric earthquake insurance in New Zealand, in partnership with local broker Bounce Insurance. Jumpstart's formal role in the launch is to license our technology to Bounce. Informally, we also provided needed know-how, experience, and introductions, and in return we received the priceless friendship and trust of Bounce's founder Paul Barton.
This expansion is consistent with our mission to get financial support to more people in their time of need. Like California, New Zealand is on the famed "ring of fire" and has experienced many significant earthquakes through history. More recently, a series of earthquakes struck Christchurch, New Zealand in 2010-2011, causing 185 people to lose their lives, and permanent changes to the city's character and infrastructure. Although most homeowners had some insurance through New Zealand's EQC, in many cases payments were insufficient or delayed. Because of this recent memory, residents of New Zealand appreciate the need for the fast, unrestricted payouts of parametric insurance.
On a more personal note, I lived and worked in Wellington, New Zealand during 2006 and maintain many friendships with Kiwis, including residents of Christchurch. That's why, for me, it's extra-meaningful to bring our resilience-building innovation to a community that's close to my heart.
We look forward to seeing growth in New Zealand, and we look forward to taking Jumpstart's model of parametric insurance to other locations worldwide.
If you haven't already, reserve your commitment in our next crowd-investing campaign! On our campaign page, tap "reserve my investment." Here's to celebrating many more successes on Jumpstart's journey!