Annex Risk
- Company typePrivate
- Founded2019
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
Annex Risk firmographics
Firmographics- Name
- Annex Risk
- Legal name
- Annex Risk and Insurance Solutions LLC
- Website
- https://annexrisk.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Annex Risk industry classification
Industry- Product category
- Specialty Insurance (Excess & Surplus Homeowners and Flood)
- NAICS
- Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
Keywords
Where Annex Risk is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Annex Risk business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Insurance Premiums: Annex Risk operates as a managing general agent (MGA) that works with leading global insurance carriers to deliver coverage. The company earns commissions or fees on insurance premiums written through its platform for homeowners and flood insurance policies in high-risk coastal areas.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Custom quote-based pricing for homeowners and flood insurance |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Annex Risk product offering
Product offeringCore offering
Annex Risk operates as a managing general agent (MGA) that designs, prices, and distributes homeowners and flood insurance policies for properties in high-risk coastal and catastrophe-prone US regions. Coverage is backed by leading global insurance carriers rated A and A-, and is sold exclusively through a network of approximately 15,000 independent retail insurance agents who can quote and bind digitally in under two minutes via the company's algorithmic underwriting platform.
Product overview
Annex Risk is a managing general agent (MGA) offering two core insurance products: Homeowners Insurance and Flood Insurance. The Homeowners Insurance product provides standard HO-3 multi-peril policies for high-risk coastal and hurricane-prone areas, while the Flood Insurance product fills gaps left by standard homeowners policies. Both products are distributed through a network of retail insurance agents and are underwritten using sophisticated algorithmic underwriting systems that enable quote and bind in under 2 minutes. The company operates in coastal states including Texas, Florida, the Gulf Coast, and along the Eastern Seaboard.
Differentiator
Problem solved
Functional benefit
Products and services
- Homeowners Insurance Multi-peril HO-3 homeowners insurance covering fire, theft, tree damage, hurricanes, and other catastrophes for homeowners in coastal and high-risk US regions. Provides coverage for dwelling reconstruction, personal property, personal liability, loss of use, and other structures, including up to $2 million of replacement cost. Distributed through appointed retail insurance agents via the Annex Risk producer portal.
- Flood Insurance Standalone flood insurance policy covering dwelling reconstruction, personal property, loss of use, and other structures for waterfront and high-risk flood-zone properties. Designed to fill the coverage gaps that standard homeowners policies exclude for properties exposed to hurricanes, floods, storms, and other water-related hazards. Distributed through appointed retail insurance agents.
Quantifiable outcome
- Quote and bind digitally in under 2 minutes
- +1 more outcomes
Companies that use Annex Risk
Customer profileSegments1 record
Ideal customer profiles2 records
Annex Risk technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Annex Risk partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Retail Insurance Agents/BrokerscoreAnnex Risk works with approximately 15,000 independent retail insurance agents and brokers across 14 states. These agents market, quote, and sell Annex insurance products to homeowners in coastal and high-risk areas. Agents can quote and bind policies through Annex's digital platform.
Scale indicators5 records
Recent moves6 records
Expansion highlights4 records
Annex Risk competitors and assessment
Company assessmentDirect peers
- Kin Insurance: Kin is a coastal-focused homeowners insurtech MGA that distributes directly and through agents, with proprietary data-driven underwriting. It is a direct competitor to Annex in high-risk coastal states and competes for the same E&S carrier capacity.
- SageSure: SageSure is one of the largest US MGAs specializing in catastrophe-exposed homeowners, distributing through independent agents across coastal states. It overlaps Annex on target customer (high-risk coastal homeowners), product (HO-3/flood), and distribution (appointed retail agents).
- Slide Insurance: Slide is an E&S homeowners MGA concentrated in Florida and other catastrophe-exposed states, using agent distribution. It competes head-to-head with Annex for Florida homeowners and the same retail agent relationships.
- TypTap Insurance Group: TypTap is a data-driven homeowners MGA (backed by Tower Hill) focused on catastrophe-prone coastal states. Its algorithmic underwriting and agent channel closely mirror Annex's go-to-market.
- Velocity Risk Underwriters: Velocity Risk is an MGA underwriting catastrophe-exposed residential property through wholesale and retail agents in coastal states. It targets the same high-risk homeowner niche as Annex with similar E&S product lines.
- Privilege Underwriters Reciprocal Exchange (PURE): PURE is a member-owned insurer and MGA serving high-net-worth homeowners, including in coastal areas where standard carriers decline coverage. It overlaps Annex on coastal homeowner focus and high-touch agent distribution, though at a higher end of the market.
Broad incumbents
- Heritage Insurance Holdings: Heritage is a publicly-traded property and casualty insurer with a heavy concentration in Florida and other coastal states. It is a broader incumbent that overlaps Annex on target geography and product lines but operates as a carrier rather than an MGA.
- Universal Property & Casualty Insurance: Universal P&C is a Florida-focused residential property carrier offering homeowners insurance in catastrophe-exposed markets. It serves the same customer base as Annex and competes for retail agent relationships in the same states.
- Lemonade: Lemonade is a publicly-traded insurtech MGA offering homeowners and renters insurance through a digital-first channel. While it is more broadly distributed than Annex, it operates a comparable algorithmic underwriting and tech-led MGA model in overlapping geographies.
Emerging players
- Openly: Openly is a tech-enabled MGA offering premium homeowners insurance through independent agents, with focus on higher-end homes including coastal properties. It targets a similar agent channel and product category as Annex but skews toward less catastrophe-exposed risks.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Annex Risk social profiles
Digital presenceAnnex Risk financial estimates
Financial estimateRevenue estimate
Valuation estimate
Annex Risk leadership team
Management profileNumber of profiles
Annex Risk funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Annex Risk M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Annex Risk
What does Annex Risk do?
Annex Risk operates as a managing general agent (MGA) that designs, prices, and distributes homeowners and flood insurance policies for properties in high-risk coastal and catastrophe-prone US regions. Coverage is backed by leading global insurance carriers rated A and A-, and is sold exclusively through a network of approximately 15,000 independent retail insurance agents who can quote and bind digitally in under two minutes via the company's algorithmic underwriting platform.
Is Annex Risk a public or private company?
Annex Risk is a private company. It is classified as venture growth investor backed and is currently operating.
When was Annex Risk founded?
Annex Risk was founded in 2019. It employs 1 to 10 people.
Where is Annex Risk based?
Annex Risk is headquartered in San Francisco, United States, in the North America region.
How does Annex Risk make money?
One revenue line is on record: insurance Premiums.
Who are Annex Risk's main competitors?
Direct peers on record are Kin Insurance, SageSure, Slide Insurance, TypTap Insurance Group, Velocity Risk Underwriters and Privilege Underwriters Reciprocal Exchange (PURE). Broad incumbents are Heritage Insurance Holdings, Universal Property & Casualty Insurance and Lemonade. Openly is listed as an emerging player.
Does Annex Risk have an API?
No public API is recorded for Annex Risk.
What industry is Annex Risk in?
Annex Risk's product category is Specialty Insurance (Excess & Surplus Homeowners and Flood). Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services. Its NAICS code is 52421 and its SIC code is 6411.