Canopius US Backs Delos Insurance


  • In the wake of 2017 and 2018 California wildfires, many insurance carriers stopped insuring homes in wildfire areas after $24bn in losses over two years
  • Nearly 350,000 homeowners in California’s wildfire regions deemed to be high risk lost their property insurance after insurers chose to non-renew their policies
  • New product aims to use complex datasets to identify low-risk homes within wildfire regions and offer them much-needed affordable coverage

14 May 2020 – San Francisco – Delos Insurance Solutions, a property insurtech Managing General Agent (MGA), has created a new insurance product that could help hundreds of thousands of homeowners find affordable home insurance in the wake of years of devastating wildfires.Delos has partnered with Canopius US Insurance to improve homeowners insurance options for those living in wildfire regions in California and across the United States by identifying and offering protection to an underserved market - low-risk homes within wildfire regions.

Solving a problem for US homeowners

Many homeowners in California wildfire regions have been struggling to find homeowners insurance since the 2017 and 2018 fire seasons. Insurers did not properly understand the risk of wildfires in the region, and were caught off guard by the severity of the losses. California’s insurance regulator estimated that insurers in the state were hit by $24bn in losses because of the wildfires[1].Insurers operating in these areas were forced to pull out of writing business issuing huge numbers of non-renewals. According to data released by California Department of Insurance Commissioner Ricardo Lara, nearly 350,000 homeowners were non-renewed on their home insurance policies in the last four years.

Using data to reduce the wildfire protection gap

Delos has created its own proprietary wildfire risk modelling using Artificial Intelligence that uses deep scientific methodologies and constantly updating data sets. This allows them to get a better understanding of the risks associated with properties in wildfire regions.

This deeper understanding of wildfire risk allows Delos to underwrite and price insurance for homes to an accuracy not previously available. Ultimately, showing that many homes which are considered high risk by other insurers actually have a low exposure to wildfire.

This same technology also enables Delos to provide Risk Mitigation Services to each policyholder—every homeowner receives on-going notifications of how their risk is changing and the most effective ways to harden their home to wildfire.

The partnership with Canopius intends to use the Delos technology to write policies on these homes, easing the hardship of the homeowners while simultaneously allowing the insurance and reinsurance communities to participate in wildfire-exposure through peril-specific experts. “Our high-performing wildfire models allow us to achieve our goal—protecting homes by providing desperately needed affordable coverage and working with consumers to help them mitigate their risk.” Says Kevin Stein, co-founder and CEO. “The number of catastrophic events has tripled in the United States in the last 30 years. Now is the time for the insurance market to shift from guesswork to relying on scientifically-driven catastrophe experts to underwrite perils. By focusing on the data, we can reduce the insurance gap and give homeowners peace of mind.”

The initial launch of the partnership’s product will offer coverage in the state of California, later expanding to other US states.


About Delos

Delos is an insurtech Managing General Agent that writes property insurance for wildfire-exposed homes. Delos leverages new data and machine learning to create more accurate wildfire underwriting risk models, enabling Delos to offer competitive pricing in high-risk regions. Delos also leverages their analytics into a real time risk mitigation service to re-envision the consumer experience and protect consumers’ homes. For more information visit or follow @getdelos.

About Canopius

Canopius is a global specialty (re)insurer with underwriting operations in Australia, Bermuda, China, Ireland, Netherlands, Singapore, the UK and US. It underwrites through Lloyd’s Syndicates 4444 and 1861 (managed by Canopius Managing Agents Limited) and a US surplus lines insurer, Canopius US Insurance, Inc. For more information, visit or follow @CanopiusGroup.


Kevin Stein, CEO and Co-Founder, (415) 501-0727,

[1] The California Department of Insurance estimated losses of nearly $12bn in 2017 and more than $12bn in 2018 due to wildfires

May 15, 2020