Annex Risk is excited to announce its selection to Guidewire’s Insurtech Vanguards program. APIs are unlocking massive opportunities for brokers and carriers, and we are thrilled to collaborate with Laura Drabik and the Guidewire team as we build the modern infrastructure for flood and earthquake insurance.
Warming oceans are increasing the intensity and severity of atmospheric rivers. These weather patterns can drop inches of rain in just a few hours, often leaving catastrophic flooding in their wake, and posing a new risk for West Coast homeowners.
Catastrophe bonds have become a $30 billion asset class, lowering the cost of insuring catastrophes around the globe.
Risk Rating 2.0 rate increases are beginning to bite in places like Louisiana, where homeowners could see prices go up by more than 500% over the coming decade.
More than a million homeowners rely on the California Earthquake Authority's (CEA) insurance program to cover their homes. However, rapid growth in the last decade is putting the CEA's success at risk, according to a recent report by the Authority. With rate increases looming, private insurers may need to step in to fill the gap.
With half a million Florida households set to see signficant increases to their flood insurance in 2022, private market flood insurers are poised to offer lower cost, higher quality alternatives to the NFIP.
Dramatic flooding, fires, and other weather events are disrupting insurance markets nationwide.