Future Proof’s Partnership Strategy: How They Turned Industry Giants into Growth Enablers

Future Proof’s Partnership Strategy: How They Turned Industry Giants into Growth Enablers

When entering a traditional industry like insurance, having innovative technology isn’t enough – you need the right partners to help you deploy it. In a recent episode of Category Visionaries, Future Proof Technologies founder Alisa Valderrama revealed their strategic approach to turning industry incumbents into powerful growth enablers.

The Matchmaker Strategy

Instead of trying to sell directly to insurance carriers, Future Proof recognized the value of working through established intermediaries. As Alisa explains, “We work with a reinsurance broker and that reinsurance broker – one of the largest reinsurance brokers in the world… essentially, I would say, matchmake MGAs like Future Proof with reinsurance providers.”

This partnership approach solved multiple challenges simultaneously:

• Access to decision-makers
• Third-party validation
• Distribution infrastructure
• Market credibility

Turning Validation into Value

The reinsurance broker relationship proved particularly valuable when they tested Future Proof’s AI model. “They sent us 270,000 odd addresses from Florida for a past event and asked us essentially to do a test, use our model to predict losses,” Alisa shares.

This validation created what she calls “a proof point of, hey, had you been working with Future Proof for this past hurricane event, here’s how much better you could have done than working with the industry standard models that you’re working with.”

The Roadshow Approach

With validation in hand, Future Proof’s broker partner became an active promoter of their technology. As Alisa notes, “We are working with this large reinsurance broker and what the large reinsurance broker has done as part of their sort of roadshow they take us on… they also have provided third party validation on the performance of our model.”

This transformed sales conversations from Future Proof trying to prove their technology worked to having an established industry player vouching for their capabilities.

Solving Partner Problems

Future Proof positioned themselves as a solution to their partners’ pressing challenges. Insurance carriers were struggling with climate risk assessment, often resorting to crude measures. As Alisa describes, “You have insurers exiting areas like Northern California or coastal Florida and these are decisions driven by broad underwriting rules that will simply exclude, say, properties within a quarter mile of the Florida coast.”

By providing more sophisticated risk assessment, Future Proof helps their partners write profitable business in markets they might otherwise abandon.

Building for Partner Success

Looking ahead, Future Proof aims to expand their partner ecosystem while maintaining their focus on delivering partner value. “In five years we’re in all 50 states with homeowners commercial insurance as well,” Alisa shares. “We have differentiated insurance policies… and crucially, the Future Proof insurance policies have financial incentives for investments in resiliency built in.”

Lessons for Founders

Future Proof’s partnership strategy offers valuable insights for startups entering traditional industries:

1. Find the right intermediaries who can provide both validation and distribution
2. Let partners test and validate your technology in real-world scenarios
3. Position your solution as enabling partner success rather than disrupting their business
4. Build long-term value propositions that align with partner objectives

The key is understanding that in established industries, the path to market often runs through incumbent players. As Alisa reflects, “I think given the predictive power of our model… there’s a lot of interest in kind of what we’re bringing to market. It’s something that folks haven’t seen before and I think we’re in the right place at the right time.”

For founders bringing innovative technology to traditional industries, Future Proof’s journey shows that strategic partnerships can accelerate market adoption and provide crucial validation. The key is finding partners whose problems you can solve and whose influence can help you scale.