Technology & Innovation Awards finalist 2020 Q&A: FloodFlash on the power of parametric insurance in fast-tracking flood claims

Here we feature FloodFlash entry into Best Use of Technology for Customer Experience - Claims (General)

FloodFlash entered its parametric insurance solution for flood insurance

What key achievement did your entry highlight?

In February FloodFlash paid flood claims in full within 26 hours of the loss. These rapid-payouts reduce stress as well as long term BI and damage through damp and mould.

These tech-enabled claims prove the power that parametric insurance must improve customer outcomes.

Can you share data or testimonials to back up your bid to win?

The fastest claim was paid just over 26 hours after the floods hit. Flood claims normally take months. To add to this achievement, we have some incredible client testimonials on our website case studies page (or on YouTube).

Here’s our favourite from FloodFlash customer Martyn: “At the end of the day, if FloodFlash treat you like they’ve treated me, it’ll be the best thing you’ve done in the last five years. On my heart, swear on my kid’s life. You are in a different league to the rest of them. You really, really are. Absolutely 110%.”

What sets your firm apart from the other shortlisted contenders?

FloodFlash is the only company in the world that has effectively used parametric cover to protect SMEs. Our underwriting and sensor technology is now leading the mass market parametric movement. Something that we are very proud of.

How will you celebrate if you are the victor?

Firstly, we will have a socially responsible drink. Then, we will get together to work out how we can reduce our claims times even further. We think we can get them down to 24 hours for the next floods that come around.

Read more…Insurers unable to hide behind parametric insurance small print says FloodFlash’s Adam Rimmer 

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