Climate Change Software Utilizes Insurance

Who is Geospiza?

Geospiza is a tech startup that provides software solutions enabling corporations and public safety organizations to analyze climate risk assessment and hazard risk. The company’s software platform integrates real-time IoT, big data, advanced analytics, and evidence-based consequence projections to support decision-making that protects the environment and saves lives. In this specialized industry, Geospiza is in need of climate change software insurance to protect itself from future and current risks.

The company aggregates big data, including exponentially increasing sensor-based information, and transforms it into forward-leaning, evidence-based decision support. In doing so, it provides communities, emergency managers, first responders, and elected officials with the information they need to inform warning, evacuation, rescue, and other key operations. 

Geospiza was co-founded by CEO Sarah Tuneberg and CTO Craig Kalick. It is based in Denver, Colorado. The company believes that swift and aggressive action by businesses and multinational corporations is needed to prevent global climate catastrophe. Geospiza is committed to helping organizations understand their risk and invest in their ability to continue creating value for their customers. 

What Risks and Challenges Does Geospiza Face?

As a small startup, Geospiza is committed to improving its solutions and growing to meet its future goals. As with all startups, risk-taking is a necessary part of growing the business and innovating while striving to make a change. For that reason, empowering startups to innovate requires an effective risk management plan. The first step in that process is deciding on the right insurance package to ensure the best coverage possible. 

When Geospiza’s leadership started looking for an insurer, they found that many insurance companies had an unnecessarily complicated and time-consuming application and assessment process. For small startups, such a process can divert important resources and attention from running the business and meeting customer needs. 

Geospiza’s team needed a solution that was cost-effective and time-efficient. They were looking for a broker that could be a trusted partner capable of providing a quote and coverage quickly and efficiently.

 

What Solutions Does Embroker Provide for Climate Change Software Insurance?

When Geospiza’s leadership came across Embroker, they knew they had found the right insurer. Embroker had just the right services that Geospiza, as a small startup, needed. As a leading digital insurance provider, Embroker is ideally suited to help software companies such as Geospiza as they grow and innovate. 

Geospiza’s team was especially impressed with the ease and efficiency of Embroker’s services and platform. Embroker’s commitment to making insurance radically simple and affordable means it can provide companies like Geospiza with fast, time-saving quotes while giving them the custom coverage they need. 

“The experience was seamless, fast, and easy. I made the mistake of applying first with another agency. It took more than an hour to get all the information updated and more than a week to get a quote. I then went to Embroker and it took less than 10 minutes and I was done. What an amazingly easy experience. Thank you!” – Sarah Tuneberg, CEO

Embroker provides various insurance policies and packages to help startups like Geospiza at every growth stage find the right startup insurance: 

• Directors & officers insurance helps protect a company’s management and leadership from personal exposure to liability claims for business decisions and actions made while running the company. D&O insurance reduces the risks a startup’s leadership faces, allowing them to make the necessary decisions to grow and innovate.  
• Technology errors & omissions insurance (tech E&O) is also important for tech and software companies, especially those whose products are at the R&D stage. Embroker’s management liability insurance provides coverage of both tech E&O and employment practices liability insurance (EPLI).
• Every tech startup should have cyber liability insurance. The increase in cybercrimes such as ransomware attacks means that no startup can afford to stay uninsured. 
• Embroker’s business owners policy (BOP) offers market-leading, comprehensive coverage for any company. The BOP includes commercial property insurance, general liability insurance, and business interruption insurance.
• When it comes to employees, almost all states require workers compensation insurance. It’s important for companies to look at workers comp requirements state-by-state and know who qualifies for a workers compensation exemption.

Startup companies face many similar risks and challenges, but each company also has needs and requirements that are unique to its industry and business model. That’s why Embroker is dedicated to supporting its clients with policies that are best suited to their business needs and risk profile. 

Results

Since first signing up, Geospiza has renewed its insurance policies with Embroker and continues to be protected by Embroker’s coverage. Embroker’s customer success team guided Geospiza’s team through the renewal process to ensure its coverage reflected the company’s current needs and plans. 

Having the right insurance coverage means that Geospiza and its leadership can focus on running their business and helping their customers with their innovative software solutions. Geospiza’s top tech talent combines decades of experience in disaster management, public safety, data modeling, and enterprise software development to ensure that the company’s software solutions can effectively meet the needs of companies and communities faced with increasing climate risks. 

Embroker meanwhile continues to build on its record of helping clients by providing radically simple and cost-effective solutions to their insurance needs. By expanding its customer outreach team, Embroker aims to help customers find the best insurance coverage for their current needs and future plans. 

Summary

Geospiza and its leadership demonstrate the importance of startups in helping companies and communities shape a better future. Through its software solutions, Geospiza is committed to doing its part to help protect communities and organizations against the risks they will face from climate change. 

Through its commitment to providing startups like Geospiza with easy, affordable, and complete insurance coverage, Embroker helps protect those companies from the risks they face as they grow and innovate so that they can succeed in the future.