FloodFlash brokers: behind the scenes with Ben Lang

Brokers are at the heart of how FloodFlash provides world-leading parametric flood cover. To kick off the new year we caught up with the newest member of the FloodFlash Broker Success Team, Ben Lang. As a former broker himself, Ben offers a unique perspective on how FloodFlash and brokers can support and learn from each other. Here’s what Ben had to say…

FF: Happy New Year Ben! I’ll go easy on the first question of the year… Can you tell us a little about your role?

BL: Thanks Chris! As a member of the Broker Success Team, I am here to help brokers master FloodFlash. That could be with training, site visits, or providing guidance so they can create quotes that work for their clients’ needs. Parametric insurance is growing rapidly but it can be a new concept for many – particularly clients.

There has been a set mentality towards flood cover for a long time – that it can be very difficult to find. Our product challenges that thinking. Not only is it available to more businesses, but we pay claims faster. This means businesses can protect their cash flow – something that previously was not an option to them. Every day we show brokers that not only is this new option available, it’s often better than traditional cover.

FF: Why is the Broker Success Function so important to FloodFlash?

BL: The Broker Success team is the bridge between FloodFlash and our broker partners. If brokers and their clients don’t understand the cover they won’t want to buy it. We communicate all of the great work from throughout the company so that brokers and their clients find FloodFlash fast and simple to use.

The communication is two-way though. We are the feedback channel for brokers and clients to share how we might improve FloodFlash. Every day we share areas that are working really well, and those we can tweak to improve the client experience.

The broker success team can be found on the road whenever COVID restrictions allow. Client and broker visits form a key part of getting FloodFlash out to the people that need it.
FF: You were recently a broker yourself… What convinced you to switch over to working with an insurer (/MGA)?

BL: As a broker, your job is to provide your client with the best options available. Ultimately you rely on the products and services from insurers. All good brokers want to provide their customers with options, perhaps with recommendations, so that they can demonstrate real value as a service. When there aren’t very many options available to a business it can be hard for brokers to meet the high expectations they set for themselves.

This was the case for me. Time and again flood cover issues would limit the number of options I could share with clients. This meant I couldn’t provide comparisons and choices and demonstrate my full value as their broker. When I found out about FloodFlash I saw that it would unlock brokers’ ability to provide lots of options for flood risk clients. If insurers were excluding flood then FloodFlash could be added on. This meant that for some clients I went from having 1-3 options, to 5-10 options for them to choose from.

The more I used the product in this way, the more I realised this is how insurance should be managed. Along with the fast claims, it felt like FloodFlash was established with client needs from day one. I couldn’t turn away from a company that is making such a big difference. So I applied for a role, and here I am!

FF: What are the biggest changes in switching from broker to insurer?

BL: On the face of it, I now focus on one peril of insurance as opposed to a variety of different policies. However, the big change is who I’m working with. There is a huge variety of skill sets and experience in the FloodFlash team due to the nature of the business and the variety of our job roles. I really enjoy the collaboration and looking at an idea from lots of perspectives.

FF: What are the key things from your time as a broker that are helping you in your new role?

BL: Shared understanding. I can speak with brokers from experience and immediately understand the obstacles they need to overcome in order to fully cover their client’s flood risk. We also then have the benefit of more than one mind working on establishing the correct course of action to ensure the client is protected against a flood.

FF: Do you think that FloodFlash could stand to learn anything from other insurers you’ve worked with?

BL: We can always learn from other insurers. Even though our products are substantially different, we need to ensure we are providing the utmost service to brokers and customers. During my time as a broker, I experienced both poor and excellent service. We can learn from the mistakes of others, as well as ensure we are not missing out on methods of great service provided by other insurers.

FF: What about them learning from FloodFlash?

BL: Other insurers stand to learn a lot from FloodFlash. I mean, you don’t receive 12 awards in one year unless you are making a difference in the industry!

Seriously though, our approach to settling claims is truly client-first. Clients know how much they will receive before a claim, and they get the cash within hours of the flood. This speed and transparency contributes to client trust. It is rare to see elsewhere in the market.

FloodFlash scooped up 12 industry awards in 2020. A massive achievement after having paid claims in just 26 hours.
FF: Any big wins in your first few months?

BL: Absolutely. I have established relationships with loads of great brokers, including hosting training sessions explaining how our product and portal operate. From this we have seen many policies placed with FloodFlash, helping the product reach more and more clients.

FF: What are you working on at the moment?

BL: In a nutshell, anything that increases our reach. This includes day-to-day quote support for brokers, educating the FloodFlash team about the day-to-day life of a broker, and even looking at placement of policies abroad.

FF: Any message for your partner brokers out there?

BL: Our product really is as good as it sounds. I genuinely believe parametric insurance is going to be the future method for most coverage. It only makes sense to start using the product now and gaining an edge over the competition.

We are challenging the status quo of insurance which requires a change in broker mindset. Customers have been overwhelmed with the results of our product, which is rarer than it should be in the insurance world. We want you to be onboard with bringing our product to the attention of your customers.

To find out more about more about our award-winning parametric flood insurance visit our homepage.