What Insight Risk Technologies does

Insight Risk Technologies is a privately held Managing General Agent (MGA) that combines Builder's Risk insurance for vertical construction projects with proprietary IoT-based loss prevention technology. The company, operating under Insight Risk Holdings, Inc. and subsidiaries Insight Risk Technologies, LLC and Insight Risk Services, Inc., was founded in 2020 and transitioned to independence in 2023 following the acquisition of its former parent, Velocity Risk; ownership now rests with founders, employees, and early investors. It holds Producer and Surplus Lines licenses across all 50 U.S. states plus Washington, D.C., and operates underwriting functions from a New York office and technology services from Southport, Connecticut.

The core product is Builder's Risk insurance covering property losses and delay on ground-up and renovation projects, bundled with RiskTech Solutions—IoT system design, procurement, deployment, and oversight using environmental sensors, water flow meters, leak detection cables/mats, security cameras (infrared and thermal), and remote shut-off valves. Two 2024 product additions, the Alert Response Credit (ARC) Deductible and the Deductible Assurance program, translate IoT deployment into deductible reductions of up to 50% or to a $50,000 minimum. Carrier capacity is provided by Lloyd's of London and Munich RE, with a 2024 strategic alliance with Eyrus extending the technology footprint into workforce and jobsite IoT.

Revenue is generated through three streams: MGA commissions and underwriting profit on Builder's Risk premiums (subscription/recurring), professional services fees for RiskTech deployments, and subscription revenue from the Deductible Assurance program. The company sells to general contractors, developers, risk managers, insurance brokers, and carriers through a sales-led motion with direct enterprise engagement and broker channel distribution, supported by content marketing and participation in industry associations (AGC, IMUA, IRMI, RIMS, Target Markets Program Administrators Association). Management is drawn from senior roles at Aon, The Hartford, Berkshire Hathaway Specialty, Hiscox, Chubb, Zurich, and AXA XL, with the company citing 150+ years of combined experience across construction, insurance, and technology.

Name

Insight Risk Technologies

Legal name

Insight Risk Holdings, Inc.

Website

https://insightrisktec.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Builder's Risk Insurance (Insurtech)

NAICS

Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512), Engineering Services (54133)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Computer Integrated Systems Design (7373), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

IoT/Connected Risk Prevention & Parametric Triggers Platforms (FSAGAGAG)

akta.pro secondary industries

Insurance Program Administration & MGA/MGU Services (FSAEADAK), Condition Monitoring Sensors & IoT (online/offline monitoring, edge devices) (EUADAJAD), Predictive Maintenance & Asset Reliability Analytics (HDAAAHAE)

Keywords

• Builder's Risk insurance
• IoT loss prevention
• Construction risk management
• Water damage prevention
• Construction insurance underwriting

Headquarters

HQ city

Southport

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain, Infrastructure

Revenue model

1. Builder's Risk Insurance Premiums: As an MGA (Managing General Agent), Insight Risk earns commissions and underwriting profits from Builder's Risk insurance policies covering vertical construction projects against property losses and delay, including ground-up and renovation risks. The company bundles insurance with IoT loss prevention technology.
2. RiskTech Solutions: Fees for IoT system design, procurement, deployment, and oversight services for contractors and owners who want risk control technology solutions for projects where Builder's Risk coverage is already in place. Includes environmental monitoring, water detection, security systems, and ongoing monitoring services.
3. Deductible Assurance Program: Technology water damage prevention solutions with corresponding deductible buydown pricing, allowing buyers to lock in deductible terms and integrate insurance costs into project budgets.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Insight Risk Technologies operates as a technology-driven Managing General Agent (MGA) that underwrites Builder's Risk insurance for vertical construction projects and bundles it with proprietary IoT loss-prevention technology. The company deploys environmental sensors, water flow meters, remote shut-off valves, and security cameras on construction sites, providing real-time alerts, monitoring, and analytics, while offering deductible reduction programs such as Alert Response Credit (ARC) and Deductible Assurance to incentivize adoption of loss-control technology.

Product overview

Insight Risk Technologies operates as a technology-driven MGA (Managing General Agent) combining Builder's Risk insurance with IoT-based risk mitigation technology. The core portfolio consists of Builder's Risk Insurance (covering vertical construction projects against property losses and delay) bundled with RiskTech Solutions (IoT technology services for design, procurement, deployment, and oversight). Key add-on insurance products include Alert Response Credit (ARC) Deductible (up to 50% deductible reduction) and Deductible Assurance (lowering minimum deductibles to $50,000). The RiskTech Solutions include environmental monitoring sensors, water flow metering, site security cameras (infrared/thermal), and remote shut-off valves. The company uses a proprietary methodology combining loss prevention technologies with insurance coverage, administered by technology specialists from project inception through close-out.

Differentiator

Problem solved

Functional benefit

Brands

• Alert Response Credit (ARC): First-to-market deductible program that can reduce water damage deductible by up to 50 percent when combined with IoT monitoring technology.
• Deductible Assurance

Products and services

• Builder's Risk Insurance Comprehensive Builder's Risk insurance coverage protecting vertical construction projects against property losses and delay, including ground-up and renovation risks. Combines granular, fact-based underwriting with proactive risk management and is bundled with IoT loss-prevention technology for construction professionals, developers, risk managers, brokers, and carriers.
• RiskTech Solutions IoT-based risk control technology services covering system design, procurement, deployment, and ongoing oversight. Handles all aspects of technology implementation for contractors and owners, including environmental sensors, water flow meters, remote shut-off valves, and security cameras, with continuous monitoring and white-glove service from project inception through close-out.

Quantifiable outcome

• Can prevent up to 90% of water damage losses when properly installed and monitored
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature11 records

Partnerships

Four partnerships are on record, tiered core.

• EyruscoreStrategic or Co-development Partner · 15 August 2024Eyrus and Insight Risk Technologies announced a strategic alliance pairing Eyrus's construction IoT and workforce management platform with Insight Risk's Builder's Risk insurance and risk management services. The combined offering aims to help clients reduce Builder's Risk premiums and deductibles, prevent water and fire losses on construction sites, and improve project financial performance without adding cost or complexity.
• Lloyd's of LondoncoreOthersCarrier partner providing insurance capacity for Insight Risk's Builder's Risk insurance products. Lloyd's of London has A.M. Best A+, Fitch A+, and Moody's A3 ratings.
• Munich REcoreOthersCarrier partner providing insurance capacity for Insight Risk's Builder's Risk insurance products. Munich RE has A.M. Best A+, Fitch AA, and Moody's Aa3 ratings.
• IoT Technology VendorscoreTechnology or IntegrationInsight Risk works with a variety of loss control technology vendors to custom create loss prevention solutions. The company optimizes functionality and cost using its broad network of quality technology manufacturers for environmental monitoring, water flow metering, security cameras, and remote shut-off valves.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Eyrus: Construction IoT and workforce management platform that announced a strategic alliance with Insight Risk in August 2024 to bundle jobsite sensing with Builder's Risk insurance. Operates in the same construction IoT category with overlapping technology stack and customer base.
• Triax Technologies: Construction IoT platform (Spot-r) co-founded by Insight Risk President Chad Hollingsworth. Provides jobsite sensors and workforce tracking that overlap directly with Insight Risk's IoT risk-prevention hardware and analytics.
• Recon Dynamics (acquired Pillar): Construction IoT provider that acquired Pillar, where Insight Risk VP of Technology Matt Joyal was CTO. Competes in the construction IoT sensor and monitoring space with overlapping products and similar customer base.
• Velocity Risk: Former parent of Insight Risk, a specialty MGA structure with overlapping Builder's Risk capabilities. Comparable as a builder's risk-focused MGA, now operating independently of Insight Risk post-divestiture.

Emerging players

• OpenSpace: Construction progress monitoring and AI analytics platform using 360-degree imagery. Overlaps with Insight Risk on construction-site visibility and risk-management analytics, increasingly used for jobsite risk identification.
• Buildots: AI-driven construction progress and quality monitoring platform. Comparable through its construction-tech risk surfacing capabilities and shared customer base of general contractors, though focused on progress tracking rather than water/fire loss prevention.
• Smartvid.io: Construction AI risk analytics platform that ingests jobsite photos, videos, and sensor data to surface safety and quality risks. Comparable through its use of construction data for risk scoring, intersecting with Insight Risk's analytics and reporting layer.

Broad incumbents

• Hiscox: Specialty insurer with a dedicated construction property practice; Insight Risk CUO Michael Reich previously led the northeast region of Hiscox's construction property group. Comparable in Builder's Risk underwriting capability though materially larger and broader in product range.
• Berkshire Hathaway Specialty Insurance: Specialty insurance carrier where Insight Risk's CUO previously managed the nationwide Builder's Risk portfolio. Comparable in Builder's Risk underwriting scope with substantially greater capital and product breadth.
• Aon: Global risk management and insurance brokerage firm where Insight Risk CEO John D. Dempsey previously led the Global Claims Preparation team. Comparable as a broad risk management incumbent that touches construction risk advisory and broker distribution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/insight-risk-technologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Insight Risk Technologies