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FutureProof expands team to support Florida E&S homeowners product launch

31st October 2022 - Author: Kane Wells

FutureProof Technologies has announced two key hires to support the launch of a Florida E&S homeowners product through its algorithmic underwriting MGA.

Andrea Ferrari joins FutureProof as Director of Underwriting, while Michael DSouza joins as Director of Catastrophe and Portfolio Management.

FutureProof notes that Ferrari brings extensive experience from underwriting both admitted and E&S personal lines at Hippo, Rivington Partners, PURE, and Nationwide.

The firm adds that DSouza holds deep knowledge of the Florida market, catastrophe modelling, and portfolio optimisation, having gathered experience in his roles at Nephila Capital Ltd, American Integrity Insurance, and AIR Worldwide.

Both Ferrari and DSouza will report to Fid Norton, FutureProof Co-Founder and Chief Insurance Officer, who commented, “The insurance crisis in Florida, coupled with impacts from Hurricane Ian, underscore the urgent need for a sharper view of risk.

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“We are thrilled to match our unique risk modelling technology, trained on millions of hurricane and flood insurance claims, with the decades of profitable underwriting, program management, and catastrophe risk experience that Andrea and Michael bring to FutureProof.”

Alisa Valderrama, Co-Founder and CEO, added, “Launching in Florida may sound challenging, but our technology and team are uniquely positioned to address the exact problems that are roiling the Florida market.

“The Florida insurance crisis is not just about climate risk, but also about factors such as unmodeled social inflation and litigation costs. Because FutureProof addresses these Florida-specific drivers of losses for the first time, we can price and manage risk more profitably for our carrier and reinsurance partners.”

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