A wave of climate tech startups is rising to the challenge, offering cutting-edge technologies that are transforming the insurance industry.

From AI-powered risk assessment to parametric insurance and sustainable product development, these 10 climate tech companies are at the forefront of innovation. Join us as we explore how they are leading the charge in adapting the insurance industry to the changing climate.

Previsico

CEO: Jonathan Jackson

Sector: Risk assessment

Previsico, a leading insurtech company, is at the forefront of using data and artificial intelligence (AI) to address climate-related risks in the insurance industry. By leveraging advanced data to create bespoke hydrodynamic modelling, Previsico provides insurers with valuable insights into the ever-growing problem of flooding.

Previsico’s Flood Intel Platform can accurately assess flood impacts, so insurers can work with their customers to mitigate risk and reduce losses. Additionally, Previsico enables insurers to make more informed underwriting decisions which protects their bottom line.

By leveraging Previsico’s innovative technology, insurers can better manage climate-related risks, mitigate losses, and provide essential protection to their customers in an increasingly uncertain world. Previsico is a valuable partner for insurance companies seeking to address the challenges and opportunities presented by climate change.

Fathom

CEO: Stuart Whitfield

Sector: Global catastrophe risk assessment

Fathom is a leading climate tech company specialising in flood risk assessment. By leveraging advanced AI and machine learning, Fathom provides insurers, governments, and businesses with accurate and granular flood risk data.

Fathom’s innovative technology enables clients to improve their underwriting and pricing strategies for flood insurance, gain a comprehensive understanding of flood risk across their global asset portfolios, and inform their disaster preparedness and response plans.

Fathom’s Global Flood Cat model represents a significant advancement in flood risk assessment. This cutting-edge tool provides unparalleled insights into flood risk on a global scale, empowering clients to make informed decisions and mitigate potential losses.

FloodFlash

CEO: Adam Rimmer

Sector: Parametric flood insurance

FloodFlash is a pioneering insurtech company specialising in parametric flood insurance. The company’s innovative technology provides businesses with rapid, automated payouts in the event of a flood.

FloodFlash offers parametric insurance, which means that payouts are triggered based on pre-agreed metrics, such as rainfall or water levels. This eliminates the need for traditional claims processes, resulting in faster and more efficient payouts.

FloodFlash uses advanced sensors and data analytics to monitor flood risk in real-time, enabling the company to trigger payouts immediately after a flood event occurs. This provides businesses with greater certainty and peace of mind.

FloodFlash’s affordable flood insurance policies make it accessible to businesses of all sizes. By protecting businesses from the financial impact of flooding, FloodFlash is a valuable partner for companies seeking to manage risk and mitigate losses.

Neptune Flood Insurance

CEO: Trevor Burgess

Sector: Parametric flood insurance solutions

Neptune Flood uses advanced mapping technologies, and aerial remote sensing, to create a sophisticated algorithm that provides customers with a flood insurance policy in two minutes or less. The company demonstrates how data can be collected and used to develop smarter mathematics, predict risk, and ultimately mitigate future losses.

Aside from delighting customers with a fast, more intuitive, online experience Neptune can provide valuable lessons for carriers around using data to better develop policies and price risk. This revolutionary approach to pricing flood risk often results in superior coverages and is available to households in all designated flood zones.

Founded in 2016 by insurance and technology industry veterans, Neptune is led by CEO Trevor Burgess, with a goal of bringing advanced analytics and extreme ease of use to the flood insurance market.

Mckenzie Intelligence Services

CEO: Forbes McKenzie

Sector: Disaster recovery

McKenzie Intelligence Services (MIS) plays a critical role in disaster recovery, providing real-time geospatial intelligence to support the insurance industry in assessing and responding to catastrophic events. Using satellite imagery, aerial data, and advanced analytics, MIS delivers precise and timely information to insurers, enabling them to quickly evaluate the extent of damage from natural disasters such as hurricanes, wildfires, or floods.

This rapid access to data helps insurers make informed decisions about claims, improving the speed and accuracy of payouts. By reducing the time it takes to assess damages, MIS helps insurers maintain customer trust during critical moments. Their technology also supports risk modeling and future disaster preparedness, allowing insurers to refine underwriting processes and improve resilience against future catastrophes.

Ultimately, MIS’s intelligence services enable more efficient disaster recovery efforts, helping communities rebuild faster while minimizing the financial and operational impact on insurance providers.

Kita

CEO: Natalia Dorfman

Sector: Carbon credits

Kita is a pioneering company focused on providing innovative insurance solutions for the carbon removal sector, helping mitigate climate risks while advancing sustainability goals. As the world pushes for net-zero emissions, carbon removal projects play a vital role in balancing global carbon levels, and Kita offers insurance products designed to de-risk these efforts. 

By insuring carbon credits and removal technologies, Kita helps build confidence in this emerging sector, allowing businesses and investors to engage in carbon offset initiatives with greater certainty.

Kita’s insurance products cover risks such as project underperformance or carbon credit delivery failure, safeguarding the financial viability of carbon removal projects. This enables smoother operations for organizations involved in everything from direct air capture to afforestation, ensuring that their investments in carbon reduction are protected. Kita’s tailored solutions contribute to accelerating the adoption of carbon removal technologies, helping the insurance industry and the global economy transition towards a sustainable future.

Arbol

CEO: Siddhartha Jha

Sector: Parametric solutions

Arbol is a leading insurtech company that provides parametric insurance solutions for climate risk, using advanced technology to protect industries vulnerable to weather-related events. By leveraging data science, blockchain, and machine learning, Arbol delivers fast, transparent, and customisable coverage for sectors like agriculture, energy, and maritime, which are increasingly impacted by unpredictable weather patterns.

Unlike traditional insurance, Arbol’s parametric model triggers payouts based on pre-defined weather data—such as rainfall, temperature, or wind speed—rather than requiring lengthy claims assessments. This approach allows for quicker settlements, often within days, enabling businesses to recover faster from weather disruptions.

Arbol’s innovative use of technology enhances risk management for climate-sensitive industries, offering them a reliable safety net as climate volatility increases. Its solutions not only protect against losses but also empower businesses to plan more effectively in the face of changing environmental conditions, making Arbol a crucial player in climate risk insurance.

Faura

CEO: Valkyrie Holmes

Sector: Insurtech sustainability

Faura is a leading insurtech company that is committed to sustainability and environmental responsibility. The company’s innovative technology empowers insurers to reduce their carbon footprint and contribute to a more sustainable future.

Faura’s cloud-based platform eliminates the need for paper-based processes, reducing waste and conserving resources. Additionally, Faura’s technology enables insurers to optimize their operations and reduce their energy consumption.

By partnering with Faura, insurers can demonstrate their commitment to sustainability and attract environmentally conscious customers. Faura’s technology can help insurers develop new products and services that address climate-related risks and promote sustainable practices.

In conclusion, Faura is a valuable partner for insurers seeking to reduce their environmental impact and contribute to a more sustainable future.

Lemonade Crypto Climate Coalition

CEO: Daniel Schreiber

Sector: Blockchain

As the name suggests, The Lemonade Crypto Climate Coalition is a division of the AI driven insurtech Lemonade. It is also the groundbreaking initiative that combines the power of insurance and blockchain technology to address climate change. By leveraging blockchain’s transparency and efficiency, the coalition aims to create a more sustainable and resilient future.

The coalition is developing innovative climate-linked insurance products that can help businesses and individuals manage climate-related risks. Additionally, the coalition is exploring the potential of blockchain to create more efficient and transparent carbon offset markets. Furthermore, the coalition is investing in startups and projects that are developing climate-friendly technologies and solutions.

The coalition’s initiatives can help communities and businesses become more resilient to climate change, promote sustainable practices, and create financial benefits through climate-linked insurance products.

The Lemonade Crypto Climate Coalition is a pioneering force in the fight against climate change. By combining insurance and blockchain technology, the coalition is creating innovative solutions that can help build a more sustainable and resilient future.

IBISA

CEO: Maria Mateo Iborra

Sector: Parametrics and risk modeling

IBISA designs index-based insurance solutions to cater the customers that get affected by climate change or weather-related risks such as excess rainfall, cyclone or typhoons, lack of rainfall and extreme temperature.

It is a leading global provider of insurance technology solutions that are committed to sustainability and environmental responsibility. The company’s products and services help insurers address climate-related risks, reduce their carbon footprint, and promote sustainable practices.

IBISA’s advanced analytics tools can help insurers assess climate-related risks, such as extreme weather events and natural disasters. Additionally, IBISA can assist insurers in developing new insurance products that address climate-related risks and promote sustainable practices. Furthermore, IBISA’s technology can help insurers reduce their operational carbon footprint by streamlining processes and reducing paper consumption.