On this episode of FNO InsureTech, Rob Beller sits down with Wesley Pergament, CEO and Co Founder of SOLA Insurance, for an in depth conversation on how parametric insurance is reshaping wind and hail coverage for homeowners across the US. Wesley shares the origin story behind SOLA and explains how data driven insurance products can close growing protection gaps created by rising deductibles and mounting fraud.

From Hurricane Sandy to SOLA’s founding vision
Wesley traces SOLA’s roots back to his experience growing up on Long Island and witnessing the impact of Hurricane Sandy firsthand. That exposure sparked a long standing interest in how natural disasters affect communities and how insurance can respond more effectively. With an engineering background and experience working with weather and satellite data, Wesley saw an opportunity to rethink how claims could be triggered and settled using objective data rather than slow, subjective processes.

Why wind and hail is the real crisis no one talks about
While hurricanes and wildfires dominate headlines, Wesley explains that hail is quietly the most expensive natural peril in the US, causing more losses annually than hurricanes and wildfires combined. SOLA began with a focused tornado product as a proof point before expanding into wind and hail, where fraud and rising deductibles have made traditional homeowners coverage increasingly ineffective for roof claims.

A hybrid approach to parametric insurance
Wesley breaks down SOLA’s hybrid model, which blends parametric concepts with indemnity principles. Rather than paying simply because a weather threshold is met, SOLA uses detailed storm data, property characteristics, and roof condition factors to determine when a roof objectively needs replacement. The result is a faster claims experience that maintains a strong correlation between loss and payout while avoiding the pitfalls of pure parametric products at the consumer level.

Reducing fraud with data, not disputes
A central theme of the conversation is fraud prevention. Wesley explains how opportunistic roofing practices and inflated claims have driven carriers to raise wind and hail deductibles to unsustainable levels. By relying on verified weather data instead of post event inspections alone, SOLA can confidently pay legitimate claims, avoid manufactured losses, and pass savings back to homeowners through more affordable coverage.

Working with the industry, not against it
Rather than positioning SOLA as a disruptor fighting incumbents, Wesley emphasizes collaboration across the insurance ecosystem. SOLA works closely with agents, reinsurers, and regulators, including Lloyd’s of London, where the company participated in the Lloyd’s Lab. This cooperative approach has helped SOLA scale responsibly while gaining trust from regulators and reinsurance partners alike.

What’s next for SOLA Insurance
Wesley closes by sharing SOLA’s growth trajectory, including expansion into additional states, selective agency partnerships, and team growth across underwriting, product, and operations. As wind and hail deductibles continue to rise, SOLA aims to become a core component of the modern homeowners insurance stack, providing dependable coverage where traditional policies increasingly fall short.

Listeners walk away with a clear understanding of how parametric and hybrid insurance models can solve real problems in today’s property market, why hail risk deserves more attention, and how disciplined use of data can restore trust and efficiency to claims handling.

#FNOInsureTech #SOLAInsurance #ParametricInsurance #WindAndHail #Insurtech #PropertyInsurance #InsurancePodcast