Last year our friends at Hannover Re paid team FloodFlash a visit to produce a mini-documentary on our unique form of parametric insurance. A lot has changed since then. We have smashed records in GWP and claim payment times. Brokers can now get bespoke support on every risk thanks to our new smart quote feature. We have over doubled in headcount, necessitating an office move.
One thing hasn’t changed since last year though: our determination to help more people recover from catastrophic flooding. Check out Chief Scientist Dr Ian Bartholomew explain our origins and why FloodFlash is in the perfect position to help close the $58bn global flood protection gap.
80% of the world’s catastrophic flood losses aren’t insured. That’s $58bn of uncovered damage, and it’s getting bigger each year because of climate change, population growth and urbanization. FloodFlash is an insurance technology company that combines computer models, cloud software and internet-of-things sensors into flood cover that protects those the insurance industry has left behind.