Suyana & Benchmark Labs

Cohort: Cohort 11, 2023

Focus in insurance value chain: Loss Modelling, Point of Underwriting

Specific lines of business supported: Sustainable Agriculture, Community Empowerment, Speciality, Personal

Founded: 2019

Status: Operating, still in insurance

Company type: Non-profit

Head office: Boston, USA

Locations served: Global

Employee count: 1-10

Suyana has partnered with Benchmark Labs to create a hybrid-parametric flooding & hurricane insurance product. By using machine learning and digital technologies they can make flood insurance more accurate, accessible, and affordable. Their value proposition lies in creating tailor-made products for our customers.

Suyana was able to develop their product during the porgramme. They also were able to get their first bit of insurance capacity and gain a partner. Suyana was able to understand where their product fit in the market during their time at the lab, which allowed them to be able to expand the menu of products that they can offer.