VYRD

What VYRD does

VYRD Insurance Company is a Florida-focused homeowners insurance carrier operating exclusively in the state, providing HO-3 policies covering dwelling, personal property, liability, and loss of use for single-family homes and duplexes. The company was founded as a joint venture between SiriusPoint, a Bermuda-listed specialty reinsurer, and boltech, an insurtech, with leadership drawn from a team carrying 272 years of combined Florida insurance experience. VYRD's product suite centers on the core homeowners policy, supplemented by several add-on modules: a Smart Home Water Protection Program delivered through a partnership with Phyn (free IoT sensors plus a 40-50% water premium discount and an optional auto-shutoff tier), flood coverage through Flood Risk Solutions, wind mitigation discounts, a Preferred Contractor Network coordinated via HOMEE, identity-theft coverage via PrivacyMaxx, and a limited-scale smartphone protection pilot with bolt.

The company's technology stack includes iOS and Android mobile apps, a customer self-service portal, an agent portal integrated with Verisk's LightSpeed quoting platform, and IoT sensor data feeds from Phyn devices. VYRD distributes policies through a curated network of independent insurance agents across Florida—reportedly at capacity with a waitlist—and supplements this with takeout acquisitions from Citizens Property Insurance Corporation, the state's insurer of last resort. The business model is subscription recurring premium revenue, with risk transfer supported by a reinsurance program that includes the Florida State Board of Administration and private reinsurers. VYRD holds a Financial Stability Rating of "A" Exceptional from Demotech, Inc., and its 2025 operational metrics included a -1.3% statewide rate decrease, doubled sensor activation rates, and reported customer savings of $3.6 million through water-protection discounts.

Name

VYRD

Legal name

VYRD Insurance Company

Website

https://vyrd.co

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

VYRD is a Florida-focused homeowners insurance carrier offering HO-3 policies with IoT-based water protection, distributed via independent agents and Citizens takeouts, backed by a SiriusPoint and boltech joint venture.

Ownership category

akta.pro rank

Product category

Homeowners Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126)

SIC

Fire, Marine & Casualty Insurance (6331)

akta.pro primary industry

Homeowners Insurance (FSAJACAA)

akta.pro secondary industry

Flood Insurance (FSAJACAG)

Keywords

• Homeowners insurance
• Property insurance
• Smart home protection
• Flood insurance
• Insurance underwriting

Headquarters

HQ city

St. Petersburg

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Homeowners Insurance Premiums: VYRD generates revenue through annual and monthly homeowners insurance premiums for HO-3 policies covering dwellings, personal property, liability, and additional living expenses for Florida homeowners.
2. Flood Insurance Policies: Partnership with Flood Risk Solutions offering NFIP and private flood insurance as add-on coverage to homeowner policies.
3. Device Protection (Smartphone): Limited-scale pilot program through bolt partnership providing smartphone protection including loss, theft, accidental damage, and malfunction coverage.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels7 records

Core offering

VYRD is a Florida-focused homeowners insurance carrier providing HO-3 policies covering dwelling, personal property, liability, and loss of use for Florida homeowners. The company distributes through independent agents and Citizens takeout offers, supplementing core coverage with add-ons including Smart Home Water Protection (with free Phyn sensors), flood insurance, wind mitigation discounts, and a Preferred Contractor Network.

Product overview

VYRD is a Florida-focused homeowners insurance company offering a unified insurance platform with multiple integrated protection products. The core product is the HO3 homeowners insurance policy providing standard dwelling, liability, and property coverage. This core is supplemented by add-on modules including Smart Home Water Protection Program (with Phyn sensors and Phyn Plus shutoff), Flood Protection (via Flood Risk Solutions), Wind Mitigation inspections, Preferred Contractor Network (via HOMEE), Identity Theft Coverage (via PrivacyMaxx), and Smartphone Protection (via bolt). The product portfolio also includes a VYRD Mobile App for policyholders and Agent Portal for distribution partners. All offerings are Florida-specific, with the company leveraging technology partnerships for smart home integration and digital claims processing.

Differentiator

Problem solved

Functional benefit

Products and services

• VYRD Homeowners Insurance (HO-3 Policy) Standard homeowners insurance policy (HO-3) providing coverage for Florida homes including dwelling, other structures, personal property, loss of use, personal liability, and medical payments. Available for detached single-family homes and duplexes where the owner occupies at least one unit as primary residence.
• Smart Home Water Protection Program Proactive water leak detection program providing free Phyn Smart Water Sensing Kit (5 sensors) to policyholders. Includes 24/7 monitoring, mobile app alerts, and premium discounts of 40% on water portion of premium. Enhanced Phyn Plus tier adds automatic water shutoff capability.
• Flood Protection Flood insurance offerings through partnership with Flood Risk Solutions, including National Flood Insurance Program (NFIP) policies and private flood insurance with enhanced coverages and higher limits.
• Phyn Plus Smart Water Assistant Premium tier of Smart Home Water Protection featuring automatic water shutoff device, professional installation included, patented pressure wave analysis for leak detection, and 50% discount on water premium portion (approximately $500 annually).
• Wind Mitigation Wind mitigation inspection and discount program helping homeowners reduce hurricane-wind premium through features such as roof covering, deck attachment, wall connections, opening protection, hip roof geometry, and secondary water resistance.
• Preferred Contractor Network (PCN) Vetted network of licensed, insured contractors for emergency restoration, roofing, and general/trade services. Integrated via HOMEE digital platform with 5-year workmanship warranty for Preferred Contractor Endorsement (PCE) holders.
• Preferred Contractor Endorsement (PCE) Policy endorsement offering 5% premium discount, faster service through HOMEE oversight, and 100% workmanship warranty for 5 years. Required for emergency mitigation services and claims-related repairs.
• Identity Theft Expense and Resolution Services Coverage Identity theft protection providing 24/7 access to PrivacyMaxx Identity Response Center, victim recovery advocates, and resolution services. Covers policyholder, spouse, domestic partner, children, and grandparents living at home.
• Smartphone Protection Device protection program via bolt partnership covering smartphones for loss, theft, accidental damage, and malfunction. Available through limited-scale pilot program.
• VYRD Mobile App Mobile application for iOS and Android enabling policy viewing, claims filing, document access, bill payment, water sensor management, and customer portal access.
• Agent Portal Web-based portal for insurance agents providing quote generation, policy management, and agent services. Integrated with Verisk's LightSpeed for streamlined quoting.

Quantifiable outcome

• $3.6 million in premium savings for policyholders through 40% water premium discount
• +6 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature4 records

Partnerships

13 partnerships are on record, tiered core and minor.

• PhyncoreTechnology or Integration · 1 July 2023VYRD partnered with Phyn as of July 2023 to provide Smart Water Sensing Kits and Phyn Plus devices to policyholders for water leak detection. Phyn provides IoT-based water sensors that monitor for leaks 24/7 and alert homeowners via mobile app. This partnership enables VYRD's Smart Home Water Protection Program with free sensors and premium discounts.
• HOMEEcoreImplementation/ SI/ Consulting PartnerVYRD partnered with HOMEE as the preferred digital claims marketplace to offer a Preferred Contractor Network (PCN) of vetted, licensed, and insured local contractors. HOMEE coordinates repairs, provides 5-year workmanship warranty, and helps expedite the claims process for VYRD policyholders.
• Flood Risk SolutionscoreStrategic or Co-development PartnerVYRD partnered with Flood Risk Solutions offering agents exclusive access to quote both private and NFIP flood insurance options. Flood Risk Solutions brings over 50 years of combined insurance knowledge and experience in flood coverage.
• VeriskcoreTechnology or IntegrationVYRD integrated Verisk's LightSpeed product into their homeowners quoting platform to streamline the quote process for agents and enable faster underwriting decisions with reliable property data.
• PrivacyMaxxminorImplementation/ SI/ Consulting PartnerPrivacyMaxx provides identity theft monitoring and recovery services to VYRD policyholders through their Identity Response Center, offering 24/7 access for identity theft reporting and dedicated victim recovery advocacy.
• Guy CarpenterminorStrategic or Co-development PartnerInsurance industry consultant and partner listed among VYRD's supporting partners.
• MillimanminorStrategic or Co-development PartnerActuarial and consulting firm listed among VYRD's supporting partners.
• Grant ThorntonminorStrategic or Co-development PartnerProfessional services firm listed among VYRD's supporting partners.
• Rytech RestorationminorChannel Partner/ Reseller/ DistributorPreferred contractor in VYRD's network providing certified water damage restoration, mold remediation, and fire damage cleanup services for over 27 years.
• Neumann Construction & RoofingminorChannel Partner/ Reseller/ DistributorPreferred contractor in VYRD's network for roofing, building repairs, water extraction, and emergency services. Veteran and family-owned, serving Florida since 1973.
• Paul DavisminorChannel Partner/ Reseller/ DistributorPreferred contractor in VYRD's network for cleanup services and damage repair to residential and commercial properties from water, fire, mold, and storm damage. Founded in 1966 and headquartered in Jacksonville, Florida.
• Joe Taylor RestorationminorChannel Partner/ Reseller/ DistributorPreferred contractor in VYRD's network specializing in water, fire, mold, and biohazard damage. IICRC-certified team responds within two hours to assess and restore properties.
• AngeLink Community FoundationminorGTM or Marketing PartnerFlorida-based 501(c)(3) charitable organization partnering with VYRD for Hurricane Ian relief fundraising campaign, delivering funds directly to Florida homeowners through Angel Grants.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tower Hill Insurance: Long-standing Florida-focused personal lines carrier writing homeowners through independent agents. VYRD's core competitor for agent shelf space and Florida homeowners share, with comparable geographic and product focus.
• Kin Insurance: Florida-headquartered direct-to-consumer homeowners insurtech serving Florida and other catastrophe-prone states. VYRD's most direct insurtech peer, competing for the same Florida homeowners through a tech-led, prevention-focused approach (Kin has its own smart home partnerships and Citizens takeout motion).
• Slide Insurance: Florida-focused homeowners insurance carrier that scaled aggressively via Citizens takeouts, very similar in business model and target market to VYRD. One of the most relevant direct comparables for VYRD's go-to-market and product strategy.
• Hippo Insurance: Tech-forward homeowners insurtech that pioneered smart-home-driven risk prevention in partnership with IoT vendors. VYRD's Smart Home Water Protection program mirrors Hippo's broader prevention-first thesis, making it a strong strategic comp.
• Frontline Insurance: Established Florida homeowners insurance carrier with deep agent distribution across the state. Competes head-to-head with VYRD in the same agent channel and same Florida homeowner segment, providing a useful incumbent benchmark.
• Universal Property & Casualty Insurance Company: Florida-based homeowners and personal lines carrier distributed through independent agents. Directly overlaps with VYRD in target market, product (HO-3), and agent-led distribution model.
• Federated National Insurance Company: Florida-headquartered property and casualty insurer with a strong homeowners book. One of VYRD's closest in-state peers on geographic concentration, product mix, and agent distribution.
• Lemonade: Digital-native insurtech that writes homeowners insurance in multiple states, including Florida. A relevant comp on tech-led, prevention-oriented homeowners insurance and a benchmark for insurtech unit economics.

Others

• Citizens Property Insurance Corporation: Florida's state-run insurer of last resort, from which VYRD acquires policyholders via takeout offers. Not a competitor in the traditional sense but a strategic counterpart and key source of VYRD's customer pipeline.
• Wright National Flood Insurance Company: Florida flood insurance specialist where VYRD's President Valerie LaTour previously led financial operations supporting $700M+ in gross written premium. A relevant adjacent player in Florida residential insurance and a useful reference for the flood add-on business.

Market position

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/vyrdinsurance
• LinkedInlinkedin.com/company/vyrd-insurance
• Instagraminstagram.com/vyrdinsurance

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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 VYRD