FutureProof Technologies, a venture-backed insurtech startup, has announced the launch of FutureProof Insurance Agency, a wholly-owned subsidiary designed to enhance insurance distribution through AI-driven risk selection.
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Leveraging AI for Smarter Risk Selection
The agency sells policies for dozens of carrier partners across the US, leveraging FutureProof's risk selection technology. The company states that this expansion builds on its success with its AI-enabled property Managing General Agent (MGA), further solidifying its role as a "leading innovator in the insurance industry."
Unlike traditional agencies, FutureProof Insurance Agency applies AI-powered risk assessment to ensure it sells profitable policies for its carrier partners. "This additional risk filter allows FutureProof's agency to provide unique value by aiming to generate profitable portfolios for its carrier partners. This addresses a major pain point for carriers that sometimes struggle with agencies that generate low-performing business," the company explained.
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Driving High-Quality Customer Acquisition
To support this effort, FutureProof has also introduced a lead generation and distribution operation to drive high-quality customer acquisition.
"With our proprietary technology, FutureProof can provide an additional risk filter for our carrier partners, which is a unique offering," said Alisa Valderrama, FutureProof's Co-Founder and Co-CEO.
"FutureProof addresses a massive issue for carriers, which is why within a matter of several months we have been appointed by dozens of carriers, including some of the biggest consumer-facing brand names in the country," said Farhan Husain, FutureProof's Chief Business Officer and former CEO of a national P&C agency.
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By integrating AI into underwriting, pricing, and policy distribution, FutureProof Technologies says it continues to push the boundaries of AI in the insurance sector.
