InsurTech Magazine May 2023 | Page 95

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Jumpstart Canadian firm Clir describes itself as a ‘ clean-tech ’ – startups facilitating the transition to renewable energy . Clir ’ s platform provides reliable , up-to-date information about renewables that is designed to encourage investment in the sector . A lack of transparent information about a particular sector can prove to be a stumbling block for securing funding , and Clir is among the growing list of companies who are tackling that problem head on .

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Clir 05

Jumpstart Canadian firm Clir describes itself as a ‘ clean-tech ’ – startups facilitating the transition to renewable energy . Clir ’ s platform provides reliable , up-to-date information about renewables that is designed to encourage investment in the sector . A lack of transparent information about a particular sector can prove to be a stumbling block for securing funding , and Clir is among the growing list of companies who are tackling that problem head on .

The startup , which was founded in 2017 , says it wants to “ incentivise the shift away from fossil fuels ”.
California-based Jumpstart is a parametric insurtech that uses publicly available data to insure customers against the risk of an earthquake . Using data from the United States Geological Survey , Jumpstart pays out when peak ground velocity reaches a predetermined level in a customer ’ s neighbourhood . This approach is designed to eliminate the need for loss adjusters and reduce the time it takes for payment , helping insureds to get back on their feet quickly after a quake . Typical payouts range from $ 10,000 for individuals to $ 20,000 for small businesses .
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