Jumpstart

About the offering

No one, especially the uninsured, is ready for a disaster. Natural disasters are devastating - not just in terms of damage, but financially. And most of us don’t have a financial cushion. For hazards like floods and earthquakes that are excluded from regular insurance, 9 out of 10 people lack coverage. But what’s worse? No savings. A majority of Americans don’t have even $500 to cover a surprise expense, much less the disruption of a natural disaster. Disaster losses from a large event can be in the hundreds of billions. Recent major earthquakes in the US, in Napa (2014) and Anchorage (2018), have caused losses estimated at $500 million or more. Per family, this equates to a whole year’s median salary - tens of thousands of dollars - and much of this is due to the cost of disruption, even if your home is undamaged. Jumpstart is protecting more people with low-cost, no-hassle insurance. Jumpstart provides a financial cushion - a jumpstart - after the shock of a natural disaster. We’ve introduced a new product category - called parametric insurance - that democratizes disaster insurance. Parametric means a lump-sum is paid out right away after a pre-defined event, i.e. a “parameter.” Jumpstart keeps what people love about insurance - getting money when they need it most - while eliminating what people hate - no delays, no paperwork, no deductible, no visit from an insurance adjuster. By making disaster insurance simple, fast, and affordable, Jumpstart makes it dramatically more accessible, building financial resilience for more people. It’s like micro-insurance for the developed world. Our first product is for the “earthquake drought” in California. With your help we will soon be able to extend Jumpstart’s parametric concept to other natural disasters and to other states

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