The alliance aims to reduce the large insurance gap that Californian homes have for wildfires.

Lloyd's of London contributes its wealth of knowledge and vast global reach to the relationship, while Delos specializes in applying wildfire science and sophisticated data analytics to assess risk and create customized insurance solutions.

In order to provide cutting-edge insurance solutions that meet the specific requirements of homeowners in wildfire-prone areas and conventional homeowner's policies, Delos plans to collaborate closely with carrier partners and make use of its knowledge in wildfire risk assessment.

"The Lloyd's underwriters we are working with have established successful books of vacant home business in California, and we are excited to partner with them to use their strong market foundation to safely grow the business," said Kevin Stein, CEO and co-founder of Delos Insurance Solutions, in a statement highlighting the significance of the partnership. We can assist homeowners in bridging the coverage gap that occurs between their typical homeowner's insurance and their vacant status with the use of this product and our collaboration with Lloyd's underwriters. Our goal is to provide insurance solutions that will enable more Californian homeowners to obtain coverage—many of whom may not have it otherwise.

Delos Insurance Solutions' underwriting and portfolio management procedures use data from its suite of wildfire models as well as wildfire science knowledge.

Thanks to its patented methodology, the business can identify properties in high-risk locations with little chance of wildfire damage, enabling it to provide coverage where traditional insurers would be reluctant.

Being an expert managing general agent, Delos is able to quickly update the data set of its predictive wildfire model, which enables prompt adaptability to changing wildfire threats.

This flexibility, along with the strong market position of Lloyd's of London, puts Delos Insurance Solutions in a position to significantly influence the supply of wildfire insurance in California.