A team of Silicon Valley veterans has launched Stand, a new company reimagining insurance for properties affected by climate change. The company’s debut product focuses on California homeowners insurance, designed not only to protect properties but also to fortify them against the growing threat of wildfires.

Founded earlier this year, Stand enters the market with significant backing, including a $30 million funding round from Inspired Capital, Lowercarbon, Equal Ventures, and Convective Capital. The company has also secured an AM Best A- Rating and the support of top-tier reinsurers. With these foundations in place, Stand is set to write over US$2 billion in home coverage within its first year.

The insurance industry is facing a climate crisis, with many insurers pulling out of high-risk areas, especially in California, where this year marks the fourth-worst fire season in state history. As a result, many homeowners find themselves under-insured, self-insured, or reliant on government-backed plans. This problem extends beyond wildfires: nearly half of all U.S. homes, worth $22 trillion, are at severe or extreme risk from climate-driven events.

Stand aims to address this issue by rethinking how insurance can adapt to climate challenges. The company uses cutting-edge physics and AI to create digital models, or “digital twins,” of properties. This allows them to simulate the impact of extreme weather and disasters, offering tailored risk-mitigation plans that can reduce specific threats.

For example, replacing mulch with gravel or planting a different tree to minimize wildfire risk. These improvements translate into more accurate pricing, enabling Stand to offer coverage in areas other insurers avoid.

“We are able to build a digital twin of properties and use physics to simulate how extreme weather and disasters would impact them, an approach that has never been used before in the insurance industry,” said Dan Preston, Co-Founder and CEO of Stand. “We believe the only viable path forward is to re-think how we approach risk itself. At Stand, we use advanced modeling and AI to make homes safer and to protect homeowners in the face of growing climate challenges.”

Stand’s leadership team brings a wealth of experience from the worlds of insurance, technology, and consumer distribution. Dan Preston, Co-Founder and CEO, was formerly the CEO at Metromile. Jason Mueller, Co-Founder and Chief Product Officer, previously served as CPO at Policygenius. Sam Shank, another Co-Founder, was the CEO of HotelTonight, later acquired by Airbnb, while Bill Clerico, also a Co-Founder, was the CEO of WePay, acquired by JPMorgan, and is currently Managing Partner at Convective Capital.

Additionally, Stand partners with Concert Specialty Insurance Company®, which has an A- AM Best rating and a reputation for developing innovative risk solutions. With its unique approach to using physics-driven AI, Stand is positioning itself as a leader in providing climate-resilient insurance coverage where traditional insurers have pulled back, offering a much-needed solution for homeowners facing the realities of climate change.