Overview
Centinel is an insurtech startup founded in 2022 that specializes in parametric insurance for hard-to-insure risks. The company was inspired by a 2019 winter storm that knocked out power across communities, revealing a critical gap in insurance protection for utility interruption risks. Founder and CEO Soton Rosanwo set out to build a claims-free insurance product that uses independently verifiable data to trigger payouts automatically -- without requiring policyholders to file claims.
Centinel initially targeted four risk categories: infectious diseases, interrupted utilities, climate events, and event cancellations. The company has since focused its go-to-market strategy on utility interruption coverage for small and medium enterprises (SMEs), a segment poorly served by traditional insurance markets. A survey of over 800 businesses found that 70% of decision makers were interested in coverage for power outages lasting longer than 72 hours, highlighting the significant unmet demand.
The platform leverages independently verifiable data sources -- utility grid operators, weather stations, and public health records -- to monitor for triggering events in real time. When a qualifying outage occurs, the system automatically alerts policyholders and initiates the agreed payout, eliminating the friction and delay of traditional claims filing.
Products & Services
Utility Interruption Parametric Coverage
Parametric insurance product for SMEs that automatically triggers and pays when a utility outage event is detected from independently verifiable data sources. Policy triggers are based on location, duration of outage, underlying utility provider, spread of the outage, and number of households impacted.
Key Features
- Automated trigger detection with no claims filing required
- Real-time event monitoring via utility grid and public data feeds
- Instant payout upon trigger event confirmation
- Pre-defined coverage terms with transparent trigger conditions
Target Users: Small and medium enterprises seeking business interruption protection from utility outages
Claims-Free Insurance Platform
Digital platform for parametric policy management and automated payout processing. The system monitors for risk events in real time and alerts customers when a triggering event occurs, then automatically initiates the agreed-upon payment.
Key Features
- Policy management and issuance
- Real-time event monitoring dashboard
- Automated payout processing
- Integration with independently verifiable data APIs
Target Users: Insurance carriers and MGAs distributing parametric products
AI-Powered Coverage Tool
An AI-powered tool designed to personalize coverage terms and present options in clear, easy-to-understand language for both insurers and customers.
Key Features
- Plain-language policy explanation
- Personalized coverage recommendations
- Simplified quote and bind workflow
Target Users: Brokers, agents, and end customers
At a Glance
- Founded
- 2022
- Headquarters
- Chicago, Illinois
- Employees
- 1-10
- Funding
- Seed
Category & Focus
- Category
- Specialty Solutions
- Subcategories
- Parametric Insurance Business Interruption
- Insurance Verticals
- P&C Commercial Specialty/E&S
- Target Customers
- Carriers, Brokers, MGAs/MGUs
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Last updated: 2026-04-09