Cohort: Cohort 9, 2022
Focus in insurance value chain/workflow: Point of Underwriting
Specific lines of business supported: Personal
Founded: 2022
Status: Operating, still in insurance
Company type: MGA
Head office: North America
Main global offices: USA
Locations served: USA
Employee count: 1-10
Sola is an MGA providing parametric tornado insurance to individuals in the US. Sola's Tornado Crisis Coverage acts as an add-on to homeowners’ insurance policies. The company uses National Weather Service data to provide pay-outs to customers within a matter of days.
Primary focus product area whilst in the Accelerator: Parametric.
Over the course of the programme Sola developed a product for wind and hail risk, and they further refined their claims product and actuarial model with the understanding of the data underwriters would like to see from the model. During the Accelerator, Sola partnered with Lloyd’s for reinsurance.
"If you want to work with Lloyd's of London syndicates as a startup, the Lloyd's Lab is unquestionably the best place to be."Wesley Pergament, Co-Founder and Chief Executive Officer
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Sola website 
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