FloodFlash+ unique parametric insurance for large enterprise clients 

Parametric insurance has the potential to cover previously impossible risks and make claims faster and more transparent. Until now event-based insurance was only available to the biggest spenders, governments and multinational corporations in the form of catastrophe bonds. 

Consultancies are beginning to provide parametric cover on a smaller scale based on data points available such as tidal barriers and river gauges. These products are exposed to basis risk though. Whilst these third party measures may help predict flooding and its causes, they do not accurately represent property level flooding.

FloodFlash+ is the first service that provides parametric flood cover using proprietary data. It combines the latest in mobile technology and underwirting to deliver bespoke cover at a fraction of the time, hassle and price.

Based on the principles of the core FloodFlash product, FloodFlash+ uses detailed consultancy to help risk managers mitigate against larger and more complex flood risks.

FloodFlash+ customers benefit from the fast, easy and flexible core FloodFlash product. FloodFlash+ adds new benefits suited to larger and more complex risks:

• Minimise basis risk: Other parametric options available use data from 3rd party sources. FloodFlash+ uses sensors installed at your property. That way the cover reflects the risk more accurately, and claims are more transparent.
• Acheive full resilience: Indemnity insurance is great for the balance sheet. Supplement it with rapid-payout parametric cover to protect cash-flow to ensure that you have what you need in the immediate aftermath of a flood.
• Fully tailor your cover: FloodFlash expert consultants work with you, and your broker and surveyor partners to design cover bespoke to your site requirements. Tailor everything from the limits, sensor placement and trigger depths.