flood insurance

Insurtech Floodbase, which acts as a data provider and reporting agent for parametric risk transfer arrangements, is partnering with African Risk Capacity Limited (ARC Ltd.) and CelsiusPro-owned Global Parametrics, to deliver parametric flood insurance programs in Mozambique and Malawi.

Insurtech Floodbase, which acts as a data provider and reporting agent for parametric risk transfer arrangements, is set to integrate 24/7, all-weather synthetic aperture radar (SAR) data into its flood solution, enhancing the coverage and granularity which can make parametric flood insurance and risk transfer triggers more accurate.

FloodFlash, a flood risk focused insurtech company that offers an innovative sensor-based approach to parametric flood insurance, said that the current UK floods that have occurred after days of storms and heavy rainfall have seen waters rise to hit the parametric triggers for some of its policies.

Insurtech Floodbase, which acts as a data provider and reporting agent for parametric risk transfer arrangements, has partnered with commercial insurance and reinsurance broking group Oneglobal to develop parametric flood insurance solutions for the Asian region.

AXA Climate, the specialist weather, climate and parametric risk transfer unit of the AXA Group, and broker Howden are working together to implement a parametric flood insurance arrangement in Togo, which is expected to cover three cities and over 700,000 inhabitants of them.

Insurtech Floodbase has partnered with specialised crop and farm underwriting system and service provider Ag Guard to deliver parametric flood insurance to cover agricultural risks in Australia and New Zealand.

African Risk Capacity Limited (ARC Ltd.) has entered into a partnership with insurtech Floodbase that will see the pair working to develop, distribute, and scale parametric flood insurance products for Africa.

ICEYE, a provider of satellite data and services to inform decision-making and analysis, and Global Parametrics, the parametric and index-based disaster risk transfer company, have entered into a flood data agreement to support the development of innovative parametric solutions.

Thanks to the use of high-resolution data inputs and observations, the parametric trigger for a newly structured New York City neighbourhood parametric flood insurance pilot comes with reduced basis risk, ICEYE has explained.

Reinsurance firm Swiss Re, broker Guy Carpenter and insurtech ICEYE are all engaged in delivering a pilot parametric community flood insurance scheme for New York City neighbourhoods.