Modernizing insurance for commercial construction
Shepherd's mission - improve the safety and productivity of the construction industry by advancing the use of technology on job-sites.
Shepherd is a YC and venture backed InsurTech startup for the commercial construction marketplace.
The construction industry is one of the largest and most important industries in the world. It creates the physical spaces where we live, work, study, and entertain. Inherently, construction is an extremely high risk occupation. The complexity, scale, and inconsistent nature of most projects makes it difficult to predict outcomes. As a result, the role (and cost) of insurance in construction is outsized when compared to other industries.
In the last decade, over $5B+ of venture capital has been invested into advancing construction technology in order to make projects safer, more efficient, and more predictable. Adoption of these tools (both hardware and software) by contractors is growing exponentially each year. But the underwriting models which evaluate and price construction insurance have failed to integrate this new available data.
That’s why we are building Shepherd.
Our value prop is twofold: create a fast, digital, and user-friendly experience for buying insurance in construction. At the same time, we’ll begin to break the traditional underwriting mold by leveraging data and technology to better understand, predict, and price construction risk.
Modernizing construction insurance requires a specific combination of skillsets, domain expertise, and backgrounds. Our founding team has both the credibility and track records to deliver world class software to support a profitable underwriting program.
Together, we're bringing a fresh perspective to construction insurance. Technology is the answer for many of the efficiency, safety, and productivity issues that plague the construction industry. However, true gains in these areas can't be realized until stakeholders like insurance companies align with this vision. Shepherd is the bridge between construction tech and underwriting - a connection that is long overdue.
We formed the company at the beginning of 2021, but are moving quickly: