#Insurtech #Sola #property insurance

Sola's Revolutionary Steps Towards Affordable Insurance

In a game-changing announcement, Sola, the forward-thinking insurtech company, has successfully raised $8 million in Series A funding. This fresh capital, combined with previous investments, brings Sola's total funding to $11.7 million. The funding round was driven by prominent investors including FINTOP Capital and JAM FINTOP, with contributions from 10vc and Georgia Tech.

A New Era for Property Insurance

Sola is redefining the property insurance landscape to make it more affordable and consistent for customers. Since concluding its seed round last year, the company has impressively increased its revenue by a staggering 700%. Additionally, Sola has launched its flagship wind and hail program, solidifying its status as a Lloyd's of London coverholder.

Wesley Pergament, Co-founder and CEO of Sola, commented on this innovative approach: “Insurance companies often outsource critical elements of their operations. At Sola, we have completely overhauled our systems—integrating policy forms, modeling, claims processing, and internal tools from the ground up. Our aim is to enhance the buying, coverage, and claims experiences for both customers and agents.”

Streamlining the Customer Experience

The heart of Sola’s vision lies in owning every aspect of the recovery process. This ensures a seamless, stress-free experience for its clientele. By utilizing objective data to trigger payouts, the company moves away from conventional subjective claim adjustments. This approach enhances Sola's resilience against the rising financial impacts of wind and hail losses—a critical factor in today's unpredictable weather climate.

John Philpott, General Partner at FINTOP Capital, expressed enthusiasm regarding Sola's potential, stating,