Faura Partners with Guidewire to Revolutionize Insurance through Insurtech Vanguards Program

Faura, a pioneering InsurTech company focused on loss control solutions for natural disasters, has recently joined the prestigious Guidewire Insurtech Vanguards program. This initiative, spearheaded by Guidewire, a leading provider of cloud-based property and casualty (P&C) platforms, aims to unite insurers with innovative InsurTech firms to bolster their operations and enhance overall resilience.

Collaboration with Guidewire

As a new member of the Insurtech Vanguards program, Faura will work closely with Guidewire to expand the reach of its advanced solutions. The collaboration is set to provide insurers with cutting-edge tools to better assess and mitigate risks related to natural disasters.

Proprietary Risk Assessment Model

Faura’s proprietary structure survivability model harnesses over a century of loss data, offering assessments for five major perils:

• Wildfire
• Hurricane
• Hail
• Flood
• Earthquake

This innovative model enables insurers to evaluate properties located in disaster-prone regions with greater accuracy, thereby facilitating the underwriting of policies that might otherwise be deemed too risky.

Addressing the Protection Gap

Faura’s participation in the Insurtech Vanguards program is part of its broader strategy to assist insurers in closing the protection gap. By providing more precise risk assessments, Faura aims to enable the development of customized insurance products tailored to the unique needs of policyholders.

Commitment to Innovation

Faura’s inclusion in this program highlights its commitment to innovation within the insurance sector. This aligns with Guidewire’s mission to nurture the next generation of insurance technology providers.

“We recognized an incentives problem in the climate space and believe that insurance can be a powerful tool for creating significant change, both for profitability and resilience,” stated Valkyrie Holmes, CEO and Co-founder of Faura. “We are thrilled to embark on this journey with Guidewire and join the Insurtech Vanguard program, as we believe this partnership will be essential for future advancements.”

Faura’s Growing Reputation

Before joining the Insurtech Vanguards program, Faura had already earned recognition for its innovative approaches to risk assessment and loss control, solidifying its reputation as a leader in the field.

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