#StartupsEverywhere: Jonathan Gonzalez, Co-Founder, Raincoat
This profile is part of #StartupsEverywhere, an ongoing series highlighting startup leaders in ecosystems across the country. This interview has been edited for length, content, and clarity.
Using AI to pay out disaster claims
In the aftermath of Hurricane Maria, Jonathan Gonzalez saw firsthand the failures of both disaster response systems and the traditional insurance industry. After spending over a year and a half navigating an ultimately unsuccessful insurance claim for his mother, he decided to take action. That experience led him to found Raincoat, a company building the technology to power faster, smarter, and better insurance for disaster recovery.
We sat down with Jonathan to talk about his journey, the role of AI in transforming disaster insurance, and the unique challenges of building a startup from Puerto Rico.
Tell us about your background. What led you to Raincoat?
My background is in computer engineering, and ironically, I had never considered the insurance industry until 2017. That changed after Hurricane Maria devastated Puerto Rico. At the time, my mother’s health was very fragile and it took me three days before I could even confirm she was safe. While she ultimately was okay, the ramp that allowed her wheelchair access in and out of the house had been destroyed.
The very first thing we did was read through the insurance policy she had been paying into for 30 years. I could barely make sense of it, except for the section on how to file a claim. We submitted one that same week.
It took a full year for an adjuster to finally visit. He came, took a few notes, and left. Six months later, we received a letter: the claim had been denied. That was when I learned that this was the status quo when it came to insurance.
I became obsessed with finding a better solution.
That’s when I learned about parametric insurance, a type of insurance that gets activated when certain parameters are met, like life insurance.Those parameters might be as simple as the intensity of a storm at a specific location or any number of data.
I realized that with the right infrastructure, much of this could be automated and made accessible. That’s how Raincoat started.
What is the work you all are doing at Raincoat?
Raincoat is an insurance technology company that leverages AI to monitor weather patterns and assess the impact of natural disasters in real time. We work with large corporations, insurers, and government agencies to automate and accelerate payouts after disasters strike.
Our platform enables these organizations to deliver faster, more transparent support to people affected by events like hurricanes, earthquakes, and floods. While the entities we serve vary, from private insurers in the U.S. to public institutions in Colombia or Mexico, the ultimate beneficiary is always the same: everyday people trying to recover.
By leveraging AI, we’re able to provide a customized solution and instant determination, ensuring that people get the help they need without the red tape that so often delays help when it’s needed most.
How do you ensure that your AI models are effective and accurate in their evaluations?
We take a multi-layered approach to ensure our models are both reliable and precise.
First, we fine-tune off-the-shelf models for our specific insurance cases. Depending on the scenario, whether it's evaluating storm data or estimating the probability of disaster impact, we apply different models, supported by internal infrastructure that helps reduce hallucinations and ensure consistency.
Second, we’ve built an in-house data pipeline that integrates and validates multiple weather and climate datasets. This lets us construct a robust, composite view of risk that enhances the accuracy of our insights. By layering diverse sources and models, we’re able to deliver higher-confidence results that support fair, fast payout decisions.
What challenges do you face in running a startup out of Puerto Rico?
Running a startup out of Puerto Rico is both exciting and uniquely challenging. One of the biggest hurdles is the limited local investment ecosystem. There aren’t many venture investors on the island, so by default, we’ve had to raise capital in the U.S. and internationally. As a result, our cap table is incredibly diverse, both in background and geography, with investors from Chile, Spain, and across the U.S.
Even though we’re proudly based in Puerto Rico, Raincoat is registered as a Delaware C-Corporation to make things more straightforward for investors.
At the same time, operating from Puerto Rico often means navigating regulatory gray areas. Is Puerto Rico treated as a U.S. state? A territory? A separate country? The answer can change depending on the context. These inconsistencies, especially around trade treaties and taxes, can make international partnerships a little confusing to set up the first time.
We also face layered regulatory challenges. Puerto Rico follows both U.S. federal and local laws, which means we’re dealing with a complex web of rules around insurance, alongside emerging AI regulations. That overlap can create unique legal challenges.
What’s most needed are stable, long-term policy frameworks that give innovative companies room to grow. Without that, we’re trying to build the future while constantly watching over our shoulders.
What are your goals for Raincoat moving forward?
Puerto Rico has yet to produce a venture-backed unicorn, and I’d love for Raincoat to take a serious shot at changing that. I care deeply about helping elevate our local startup ecosystem. There’s incredible talent and potential on the island, world-class people who can absolutely compete on a global stage.
Whether through Raincoat or by helping others, I want to show that high-growth, globally relevant companies can be built from Puerto Rico, and built by Puerto Ricans. That goal is deeply personal. It’s not just about our success, it’s about what we can unlock for the next generation of builders here.
All of the information in this profile was accurate at the date and time of publication.
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