Madison startup Understory is moving into the insurance business with Auto-Hail Safe, an insurance program aimed at car dealerships, which can lose millions of dollars of inventory if a hailstorm hits the open lots.
Founded in 2012, Understory has developed on-the-ground weather sensors to gather data from a multitude of weather conditions, including rain, wind and hail. CEO Alex Kubicek said those sensors will be able to ease the burden of insurance costs on auto dealers.
The move, announced Tuesday, represents a full shift for Understory into the insurance business and away from its previous push to create more weather stations with its sensors, Kubicek said. Read the full story here.