Dear Visitor, this website uses permanent cookies to ensure data privacy as well as to provide access to special content and technical functionalities. With your consent, we may also use cookies for website analysis. For details and how to give or revoke your consent, read our Data Privacy Statement.

  • EN
Top navigation or filters may restrict results of your search. To see all possible results click here.
Wallpaper
verified Solution

FloodFlash - parametric flood insurance

Released April 15, 2020
Get in contact now!

FloodFlash offers the first parametric flood insurance product aimed at businesses and property owners. A FloodFlash policy pays a fixed sum as soon as flood water reaches a pre-agreed depth.

Verified partner

Contacts

Photo of Ola Jacob Raji
Ola Jacob Raji
floodflash.co
Account Executive
United Kingdom
Photo of Fabian Merz
Fabian Merz
Hannover Re
Solution expert
Photo of Anna Goeckemeyer
Anna Goeckemeyer
Hannover Re
Solution expert

FloodFlash is a new type of event-based flood insurance. Their data and smart sensor approach removes the uncertainty, cost and time of traditional insurance. The result is a cost- and time-effective parametric insurance on a scale that has never been achieved before.

Founded by catastrophe insurance experts Adam and Ian, FloodFlash offers parametric or 'event-based' insurance as an MGA to SME's. This type of cover provides a settlement based on an event happening, rather than the damage incurred. In essence, the policy uses agreed limits - or parameters, hence parametric - and when these limits are reached the settlement is paid out.

FloodFlash base their end-to-end insurance product on their developed platform and state-of-the-art sensors that are installed outside the insured property. When the sensors detect a flood, they send the data to FloodFlash HQ and the payout is arranged. A FloodFlash policy doesn't use loss adjustors to assess damage, so there are no long delays. Customers receive the pre-agreed payout within a matter of days. With no claims forms, there is no guesswork or haggling when it comes to payout time either.

Having launched fully at the beginning of 2019, FloodFlash operates across Britain and is headquartered in London. FloodFlash is a registered coverholder at Lloyd's of London and is as an insurance intermediary authorised and regulated by the Financial Conduct Authority. Currently acting only in Britain, FloodFlash is exploring options to scale internationally and by vertical. 

Rapid-payout insurance

Responsible for this content

floodflash.co
United Kingdom

Views: 1932

Downloads: 514

Ratings by number of stars:
0 %
100 %
0 %
0 %
0 %

Page is favored by 1 user.

Contact inquiries: 1

Interested? Like to know more?

Get in contact now!



Disclaimer

External vendor partners can provide content on hr | equarium. Hannover Rück SE does not verify these contents. Hannover Rück SE is also not responsible and not liable for the contents and services offered. For more information please see the terms of use.

Report site