Reinsurance News
Floodbase
Floodbase launches solution to allow continuous flood mapping across the US
23rd July 2025
Floodbase, a platform focused on insuring flood risks beyond traditional coverage, has launched near-real-time flood mapping technology for the United States to help governments, insurers, media, and other decision-makers obtain rapid situational awareness and actionable information, which can now be licensed on-demand per event. This launch marks a significant step forward ... Read the full article
Floodbase and Yokahu introduce parametric flood insurance to support New Orleans businesses
25th April 2025
Floodbase, a platform focused on insuring flood risks beyond traditional coverage, has partnered with insurance intermediary Yokahu to introduce automated parametric flood insurance in New Orleans. The initiative aims to provide faster, more flexible financial protection for businesses impacted by regional flood events. In contrast to the National Flood Insurance Program (NFIP)—which ... Read the full article
Floodbase receives $5m investment to help accelerate flood insurance development
25th February 2025
Led by Ecosystem Integrity Fund (EIF), with participation from Pulse Fund, the investment enables the parametric platform to accelerate the development of flood insurance programs amid a large protection gap. Floods are the most common and devastating natural disasters, yet 83% of global economic flood losses over the past decade were ... Read the full article
Aon, Swiss Re, and Floodbase reveal parametric insurance solution to mitigate hurricane storm surge losses
5th February 2025
Aon plc, a professional services firm specialising in risk management, insurance, and reinsurance brokerage, has introduced a new parametric insurance solution aimed at reducing financial losses caused by hurricane-related storm surges along the US coastline. This initiative, developed in partnership with Floodbase, a specialist in parametric flood risk, and Swiss Re ... Read the full article
Insurers call on Canada’s federal government to move forward with national flood insurance program: IBC
19th November 2024
October storms in Southern British Columbia, Canada, resulted in over $110 million in insured damages, as per initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). In response to these escalating costs, insurers urge the federal government to move forward with the implementation of a National Flood Insurance Program to better ... Read the full article
Amwins and Floodbase launch parametric flood insurance for Californian municipalities
8th October 2024
Amwins, a London-domiciled global speciality distributor, in partnership with insurtech Floodbase, has launched a municipal flood insurance program, designed to insure California municipalities against previously uncovered losses due to atmospheric river flooding. California’s public sector has been largely unprotected from damages caused by atmospheric rivers, which annually on average cost the ... Read the full article
Floodbase’s flood mapping accuracy outperforms leading methods by 11%
5th September 2024
Insurtech Floodbase’s AI-based flood monitoring technology has proven to be 11% more accurate than current leading methods, enabling more precise monitoring and reduced prices for parametric flood insurance, according to a recent study in Geophysical Research Letters. Developed by Floodbase scientists and engineers, the technology uses deep learning to integrate satellite ... Read the full article
Amwins launches flood insurance to protect US golf courses from revenue loss
14th August 2024
Amwins, a distributor of specialty insurance products and services, has launched the "Tees-to-Green" flood insurance programme in partnership with Floodbase and supported by highly-rated carriers. This programme is designed to cover US golf courses for revenue loss and repair costs due to flooding, addressing a critical gap in current flood insurance ... Read the full article
Floodbase launches national flood product to help relief and recovery in continental U.S.
23rd July 2024
Floodbase, a climate adaption technology company, has launched a rapid flood response data product covering flood events in continental U.S. which will be available starting 1st August, 2024. The service will provide a near-real-time flood hazard layer to government and commercial clients that conduct damage assessments or visualise impacts. It aims ... Read the full article
Floodbase’s parametric flood insurance programs to support farmers in Mozambique and Malawi
4th March 2024
Floodbase has been awarded a grant to launch parametric flood insurance programs for farmers in Mozambique and Malawi, with support from African Risk Capacity Limited (ARC Ltd.) and Global Parametrics. In Mozambique, over 80% of people depend on agriculture for their livelihoods, and 99% of smallholder farmers in Africa are uninsured ... Read the full article
Capella Space partners with Floodbase to enhance parametric flood insurance
25th January 2024
In a strategic move to address the growing challenges of flood risk exacerbated by climate change, Capella Space Corp., a prominent American space tech company specialising in satellite solutions, has announced a partnership with Floodbase, a leading data provider and reporting agent for parametric flood insurance. The collaboration aims to integrate ... Read the full article
Floodbase partners with Oneglobal to develop parametric flood insurance across Asia
6th December 2023
Insuterch Floodbase and Oneglobal, a commercial re/insurance broker, have announced plans to develop and distribute parametric flood insurance solutions across Asia. The two companies are partnering to close the flood insurance gap with what they describe as cutting-edge parametric flood insurance solutions. Connected through Lloyd’s Lab, the pair recognized the opportunity to ... Read the full article
Floodbase partners with Ag Guard to develop parametric flood insurance programs for ANZ
31st October 2023
Insurtech Floodbase has entered into a partnership with Ag Guard to develop and distribute parametric flood insurance programs across both Australia and New Zealand. Both companies are teaming up together to help close the ANZ flood insurance gap through jointly-developed parametric flood insurance programs that are designed to cover ag risk. The ... Read the full article
Floodbase and ARC Ltd. partner to address Africa’s flood insurance gap
25th October 2023
In a significant move towards mitigating the devastating impact of floods in Africa, Floodbase has recently announced a strategic partnership with African Risk Capacity Limited (ARC Ltd.). The collaboration aims to develop, distribute, and scale parametric flood insurance solutions across the continent. Floods have emerged as a critical humanitarian challenge in Africa ... Read the full article
Parametric solutions can shrink flood insurance protection gap: Floodbase
8th June 2023
With floods on the rise due to climate change, re/insurance solutions covering this type of peril have become more important now than ever, Peter Lacovara, Head of Commercial at Floodbase, highlighted in a recent interview with Reinsurance News. With flood having one of the largest protection gaps compared to other perils, ... Read the full article
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