Foresight Risk and Insurance Services is a technology company.
Foresight Risk and Insurance Services has raised $21.0M across 1 funding round.
Foresight Risk and Insurance Services has raised $21.0M in total across 1 funding round.
Foresight Risk and Insurance Services has raised $21.0M in total across 1 funding round.
Foresight Risk and Insurance Services's investors include Aegon Asset Management, Brick & Mortar Ventures.
Foresight Risk and Insurance Services is a San Francisco-based insurtech company specializing in workers' compensation insurance for safety-critical industries like construction, manufacturing, agriculture, landscaping, and auto services.[1][2][3][4] It builds proprietary safety technology, including the Safesite platform with AI-powered risk prediction, data-informed underwriting, and virtual coaching to proactively prevent workplace accidents, reduce claims frequency by an average of 17%, and lower costs for brokers and clients.[1][2][4] Foresight serves brokers and businesses in these high-risk sectors, solving the problem of reactive insurance by making safety predictive—helping workers return home safely while enabling growth without compromising protection.[1][2][3] The company has demonstrated strong momentum, including national expansion to all 50 states, a 2023 partnership with QBE North America for underwriting capacity, and backing from investors like Transverse Ventures at Series C stage.[1][3][4]
Foresight was founded in 2020 by CEO David Fontain and Peter Grant, spurred by the tragic workplace death of a close friend, which inspired a shift from reactive to proactive safety in commercial insurance.[1][4] Leveraging the established Safesite platform—Foresight's sister company with over a decade of operation—the duo created an insurer that integrates award-winning safety tech, AI models, and hands-on support.[1][2][4] Early traction came from targeting California's $12.5 billion workers' comp market, with rapid evolution including approval to operate in all 50 states and strategic partnerships like the 2023 QBE deal, positioning it for nationwide scaling.[1][3][4]
Foresight rides the insurtech wave of AI-driven risk prevention, transforming the $12.5B+ U.S. workers' comp market from loss-focused to safety-proactive amid rising workplace hazards in labor-intensive sectors.[2][4] Timing aligns with post-pandemic labor shortages, regulatory pressures for safety, and AI adoption in insurance, where traditional models struggle with high claims in construction and manufacturing.[1][2] Market forces like expanding telematics and data analytics favor Foresight's first-mover status in mid-market comp, influencing the ecosystem by partnering with giants like QBE and setting standards for tech-integrated policies that reduce societal costs of accidents.[1][3][4]
Foresight is poised for accelerated national dominance in workers' comp, leveraging Safesite's maturity to enter high-potential markets like Texas while innovating with AI for even sharper predictions.[4] Trends like AI regulation, climate-driven industry risks, and demand for ESG-aligned insurance will shape its path, potentially evolving it into a full-suite commercial risk platform. As insurtech matures, Foresight's purpose-driven tech could redefine safety standards, turning a personal tragedy into industry-wide protection that gets workers home safe.[1]
Foresight Risk and Insurance Services has raised $21.0M across 1 funding round. Most recently, it raised $21.0M Series A in December 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2020 | $21.0M Series A | Aegon Asset Management, Brick & Mortar Ventures |