Bamboo Insurance just struck a deal with Accredited, the specialty insurer, to push deeper into California’s turbulent homeowners market.
The tie-up kicks off with E&S Signature, a non-admitted product designed to fill gaps left by carriers pulling back.
Plenty of players have walked away from California risk. Bamboo hasn’t. The company continues writing cover across the state and now stretches further, bringing new capacity through Accredited’s balance sheet and program know-how.
Since 2018, Bamboo has leaned on technology and data to serve thousands of California customers. Its pitch is customer-first, not tech-for-tech’s-sake.
Processes run on automation, but conversations with homeowners still happen in plain language. Transparent solutions, a personal touch, and underwriting that adapts to local realities define its brand.
The idea is clear: pair Bamboo’s data-driven underwriting platform with Accredited’s financial strength, then package coverage that can survive today’s volatility.
California’s insurance landscape remains volatile, leaving many homeowners with few options,” said John Chu, CEO of Bamboo Insurance.
“With E&S Signature, we’re enhancing our commitment to California – providing homes with protection when other insurers back away. Bamboo, in partnership with Accredited, is stepping up to make coverage more available, affordable, and tailored to real needs.”
Accredited America president Grace Meek echoed that sentiment. She pointed out that Accredited’s financial backing and program expertise, coupled with Bamboo’s tech-enabled underwriting, allow the new product to scale quickly.
The partnership, she argued, will meet demand head-on where reliable homeowners cover is hard to find.
Our financial backing and program expertise, combined with Bamboo’s tech-enabled underwriting, will help meet critical demand and deliver reliable insurance where it’s most needed.
Grace Meek, President of Accredited America
“Bamboo Insurance is a modern, customer-focused insurance provider dedicated to simplifying the insurance experience. While we leverage technology as a tool to streamline processes, our true difference lies in our commitment to being a human-first company. We take the time to understand our customers’ needs, offer transparent solutions, and provide a personal touch in everything we do. Bamboo is a Managing General Agency licensed to sell property-casualty insurance products,” Grace Meek added.
Bamboo was founded by John Chu, an insurance industry veteran who is no stranger to capital raises. After all, before launching the insurtech, he was Operating Partner at both Altamont Capital Partner and Golden Gate Capital.
He earned his insurance stripes during nine years at car, home and business insurer The Hartford, where he served as CFO before becoming SVP of e-Business and Technology. He has been on the board of LA-based Wedbush Securities since 2014.
Bamboo operates as a Managing General Agency, licensed for property-casualty, and positions itself as more than another digital insurance startup.
Bamboo has raised a total of $40.9 mn over three early-stage rounds. In September 2022, it closed a Series A round worth $15 mn, led by Eos Venture Partners among others.
In October 2023, White Mountains Insurance Group agreed to acquire a majority stake in Bamboo. That deal included an investment of approximately $285 mn, including primary capital to fuel growth. Bamboo’s management will retain a large equity portion.
It bets on blending speed and accuracy with a human-first approach, a stance that stands out at a time when many carriers treat California as uninsurable.
