Parametric insurtech FloodFlash targets bigger risks with new launch
Insurtech FloodFlash has launched a new iteration of its parametric commercial flood insurance designed to support risks and portfolios where the flood premium is between £20,000 and £1m annually.
Previously FloodFlash focused on micro enterprises and SMEs in areas at high risk of flooding and has issued over £20m in cover since its full launch last year.
Founded by Dr Ian Bartholomew and Adam Rimmer, FCA regulated Lloyd’s coverholder FloodFlash provides a pre-agreed pay out when flood water reaches the client’s selected trigger depth using proprietary sensors attached to the insured property.
The new offering, FloodFlash Plus, is underwritten by a panel of insurers and reinsurers and
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