Stand, a company reimagining insurance for climate-impacted properties, announced the launch of its debut product: California homeowners insurance that insures and fortifies properties to be resilient to wildfire. Launched earlier this year, Stand is backed by top-tier reinsurers, an AM Best A- Rating, and $30 million in funding from Inspired Capital, Lowercarbon, Equal Ventures & Convective Capital. With this foundation, the company is prepared to write over $2 billion in home coverage within its first year.

Stand insurance offers homeowners insurance for climate-impacted properties, where wildfire, flood, and wind impact coverage. It is no secret that the insurance market is in a climate crisis. And amidst the fourth worst fire season in California history, insurers are leaving large geographies to avoid fire risk. Many homeowners are now under-insured, self-insured, or on government plans of last resort. The problem is not unique to wildfire: nearly half of all homes ($22 trillion worth) in the U.S. are at severe or extreme risk of damage from climate-driven events.

Stand has revamped insurance for this new era, offering a solution that protects property while insuring it. And by combining expertise in fire, fuel, land, and structures with advanced physics and AI modeling, Stand provides property owners with tailored risk-mitigation plans. These plans prioritize specific improvements like replacing mulch with gravel in a critical area, or replacing a Juniper tree with a Maple to reduce risks effectively. Quantifiable risk reductions translate into more accurate pricing, enabling Stand to offer policies in areas others can't or won't serve -- a win for both homeowners and the company.

Stand takes a highly interdisciplinary approach across insurance, wildfire, science and consumer distribution and was founded by a team of experts in these domains:

-- Dan Preston, Co-founder, CEO. Dan was the former CEO at Metromile

-- Jason Mueller, Co-founder, CPO. Jason was the former CPO at Policygenius

-- Sam Shank, Co-founder. Former CEO at HotelTonight (acquired by Airbnb)

-- Bill Clerico, Co-founder. Former CEO at WePay (acquired by JP Morgan), Managing Partner at Convective Capital

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