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Flood insurance brokerage raises $15.5M Series A

Specialised insurance coverage brokerage reThought Insurance coverage Corp. has accomplished a $15.5 Collection A fundraising spherical led by Hudson Structured Capital Administration and ArcTern Ventures.

The corporate’s area of interest is writing flood protection for advanced mid-tier business dangers and excessive web price properties.

“The increase will present funding for the continued growth of software program and knowledge sources, together with the agency’s proprietary mannequin convergence engine and its high-definition danger knowledge engine, in addition to growth of the gross sales workforce and technical assets,” the corporate stated in a information launch. “There may also be funding in operational capabilities to have the ability to deal with elevated volumes of enterprise and help sooner progress.”

The agency is “streamlining our operations and our aim is to automate the entire firm,” reThought CEO Cory Isaacson stated in a launch. “This spherical of funding will additional our capacity to supply the most effective underwriting from essentially the most complete sources of information out there for our capability suppliers and in the end assist us meet our aim of closing the hole for United States flood in ways in which others haven’t accomplished and can’t do, which places us in a very distinctive place within the flood market.”

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