Vesta Assurance, inc

Launching NEW Insurance Product into Profitability

Residence Insurance™ is a new insurance product designed to keep policyholders in their homes if they experience a short-term financial crisis. Under claim-qualifying conditions such as job loss, termination, or unexpected medical expense, Residence Insurance™ pays rent or mortgage directly to the landlord or lender, ensuring that the policyholder keeps their home. It provides housing security nationwide, across demographics, and across income brackets.

With a strong first-mover advantage and no direct competition, Residence Insurance™ fills a gap in the insurance industry by delivering peace of mind to tenants and mortgage-borrowers while also providing financial security to landlords and lenders.

Over 5 million tenants and mortgage-borrowers are evicted or foreclosed on every year, primarily due to temporary financial crises. This has significant costs not only for individuals and families but also for landlords, lenders, and government entities. Residence Insurance™ addresses this challenge by offering protection and stability.

The product will be distributed through insurance broker aggregators, agencies, landlords, mortgage brokers, employers, and insurance brokerage platforms, with additional opportunities through HUD, Lloyd’s of London, and white-labeled offerings. It will also be marketed directly to consumers through the company’s website. Surveys show strong demand: 97% of potential policyholders worry about losing their home under one of the qualifying conditions, and 90% expressed interest in the product.

The U.S. market opportunity is vast: 129 million households, with a serviceable addressable market of 108.4 million households (37.8M renters and 70.6M mortgage-holders). The serviceable obtainable market is 53.1 million households nationwide.

Residence Insurance™ policies are priced based on individual monthly housing payments, with established underwriting rules confirmed by a reputable actuarial firm. Technology for enrollment, underwriting, and policy administration will be handled through integrated AI-powered services that are ready to go post-launch.

The leadership team brings deep industry and academic expertise. Founder and CEO Margaret (Maggie) Buchanan has an MBA and MPP from Duke University and authored a thesis on housing insecurity. Co-Founder and Chief Insurance Officer Martin A. Calhoun is an award-winning insurance executive with a track record in scaling insuretech startups.

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Vesta Assurance, inc

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