Jumpstart

Jumpstart, earthquake insurance

BUILDING RESILIENCE

Jumpstart earthquake insurance is event triggered, super fast, lump-sum payouts, for catastrophic events – starting with Earthquakes in California.

Building community resilience to natural disasters, by providing affordable coverage that gives instant lump-sum payouts with no deductible, is at the heart of Jumpstart’s mission.

Insurtech Gateway incubated Jumpstart in October 2018. They were acquired by Neptune in October 2021.

 

JUMPSTART FOUNDER

Kate Stillwell (CEO) – Kate has 10 years experience as a practicing structural engineer and 7 years in earthquake risk modelling. She was also Founding Executive Director of the Global Earthquake Model Foundation (GEM).

 

kate stillwell founder jumpstart
jumpstart earthquake insurance

PROBLEM

Less than 10% of California state’s 12.5m households hold quake insurance.

Incumbents’ products are perceived as overly-complex, opaque and slow.

 

SOLUTION

Customers pay a low monthly premium. If their insured location experiences the parametric trigger, Jumpstart will deposit a lump sum of $10,000, right away, no strings attached, straight to their bank account.

“Natural hazards are only the beginning. The change we want to see in the world is for index-based ‘parametric’ insurance to become so widespread that ‘Jumpstart policy’ becomes a generic term for any coverage with fast, fixed payouts. The current premiums for CA EQ are $600 million. Jumpstart aims to double this while expanding to other earthquake-prone states and other perils”

Kate Stillwell, Founder at Jumpstart

You don't need to know insurance or have built anything yet, but you do need ambition, perseverance and deep conviction about the problem you want to solve. We'll help with the rest.

Our local incubator teams are happy to have a confidential, exploratory chat.

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