Floodbase partners with Liberty Mutual
Flood data company Floodbase and Liberty Mutual announced the launch of an instant quoting application for parametric flood (re)insurance in the US.
The solution allows wholesale and retail brokers to price parametric flood coverage in minutes leveraging Liberty Mutual’s pricing engine and the Floodbase API.
“This collaboration enables us to respond to evolving flood risk with faster, more adaptable solutions. It’s the same coverage—just delivered faster and with far less friction, enabling the brokers to effectively explore and customize a client’s flood coverage in seconds before even emailing an underwriter. That not only improves the client and distribution experience, it enables us to respond to evolving flood risk with novel parametric products for small-and-medium market segments.” – Jean-Christophe Garaix, head of Parametrics & Agriculture at Liberty Mutual.
“Parametric flood can be an effective risk management instrument bridging protection gaps in traditional policies for small-and-medium businesses in the US – but that requires rapid distribution at scale. Liberty’s new instant parametric flood quoting solution solves that, giving U.S. brokers and MGAs the flexibility to embed rapid parametric flood cover into their own quoting environments, enabling scalable distribution across small- and mid-market segments.” – Bessie Schwarz, Co-founder and CEO of Floodbase.
