Reinsurance News

FloodFlash

Munich Re backs $15m funding round for FloodFlash

10th February 2022

Parametric insurtech firm FloodFlash has secured $15 million in a Series A round of funding that was led by Chicago-based Buoyant Ventures with Munich Re Ventures also featuring as an investor. Sony Financial Ventures/Global Brain, MS&AD Ventures and PropTech1 all participated in the round alongside existing investors Pentech, Local Globe and ... Read the full article

Insurtech FloodFlash secures further Munich Re investment

1st November 2021

Munich Re is to provide capacity for the principal business of parametric flood insurtech FloodFlash, which aims to provide rapid-payout flood cover for SMEs and landlords. This is not the first time these two companies have crossed paths; the global reinsurer provided capacity for FloodFlash’s consultancy service in 2020. FloodFlash+ saw ... Read the full article

FloodFlash pays Storm Christoph claims on same day

25th January 2021

Parametric insurtech firm FloodFlash has issued pay-outs to policyholders affected by flooding from Storm Christoph, in many cases on the same day as the flooding occurred. The fastest claims took just 9 hours and 44 minutes from the property flooding to the client receiving the full settlement in their account, which ... Read the full article

Insurtech FloodFlash launches expanded parametric product

22nd September 2020

Insurtech FloodFlash has launched the newest iteration of its commercial parametric flood insurance, FloodFlash+. FloodFlash+ sees policies underwritten by a panel of insurers and reinsurers and allows clients to select multiple sensors for a single site, cover multiple properties in a portfolio under a single policy, or include third party data from river ... Read the full article

FloodFlash pays claims one day after storm Ciara

11th February 2020

InsurTech FloodFlash, a startup which provides sensor-based parametric flood insurance to ensure rapid payouts, has revealed that it paid claims related to storm Ciara just one day after flooding. Storm Ciara (also known as European windstorm Sabine) struck Europe over the weekend, with impacts widespread due to the size of the ... Read the full article