insurable solutions

Insurance

  • Is it time to embrace Parametric Insurance?
  • Pre-agreed trigger points
  • Fast payouts to speed recovery
  • Works with flood prevention measures

Smart

Each sensor is equipped with high-accuracy, ultrasonic depth measurement technology – a bit like the parking sensors on a car. It also has mobile connectivity to send up-to-date flood data to FloodFlash HQ.

Strong

The sensor is built to last. It features a battery that lasts up to 12 years, tamper proofing and a memory chip to store data for when networks fail. It can weather almost any storm that comes your way.

Secure

The sensor is tamper and fraud proof. It has been tested under storm conditions so it’s up to any challenge. Plus the simple installation means that we can organise no-fuss replacements if needed.

Choose sensor location

This happens at the quote stage. The property footprint you select for your cover (available on the statement of fact document we send to you) dictates where you have selected for your sensor. Need to change it? No problem, just request a new quote.

Engineer visit to install

Once you’ve confirmed the quote and purchased the cover, we send an engineer to your property. They bring the sensor and tools, you just need to make sure the area you want the sensor is cleared beforehand.

Sensor health check

Once installed, the engineer initiates the sensor and it begins sending readings to FloodFlash HQ. We check these readings to make sure everything is working. After that the sensor is vigillant, ready to report the first sign of flooding and start a claim.

Smart

Each sensor is equipped with high-accuracy, ultrasonic depth measurement technology – a bit like the parking sensors on a car. It also has mobile connectivity to send up-to-date flood data to FloodFlash HQ.

Strong

The sensor is built to last. It features a battery that lasts up to 12 years, tamper proofing and a memory chip to store data for when networks fail. It can weather almost any storm that comes your way.

Secure

The sensor is tamper and fraud proof. It has been tested under storm conditions so it’s up to any challenge. Plus the simple installation means that we can organise no-fuss replacements if needed.

Choose sensor location

This happens at the quote stage. The property footprint you select for your cover (available on the statement of fact document we send to you) dictates where you have selected for your sensor. Need to change it? No problem, just request a new quote.

Engineer visit to install

Once you’ve confirmed the quote and purchased the cover, we send an engineer to your property. They bring the sensor and tools, you just need to make sure the area you want the sensor is cleared beforehand.

Sensor health check

Once installed, the engineer initiates the sensor and it begins sending readings to FloodFlash HQ. We check these readings to make sure everything is working. After that the sensor is vigillant, ready to report the first sign of flooding and start a claim.

You should pick a payout amount that makes sense for your business. Consider how much it might cost to make repairs to your property in the event of a flood the cost of replacing or repairing damaged stock, machinery, contents, etc

the terms and limits of any existing flood insurance you might have - for example, your existing insurance might have a very large excess for flood damages, or the level of cover provided might be insufficient for your needs.

You receive the payout for any lower trigger depths that were reached. The policy will still be in place for any higher trigger depths in your policy. If a flood were to occur at those heights later on, we would make an additional payout.

Consider investing in measures to increase your flood resilience, such as a flood management plan or flood defences. A FloodFlash policy can work in harmony with these investments to lower your premium. If you have taken steps which will reduce the overall cost of flooding, then you can choose a lower payout. If you are protected to a greater depth, then you can raise the trigger level.

One of our first policyholders cut their premium by installing 1 metre high floodgates on their building. The gates enabled them to raise their trigger depth to over 1 metre, delivering a policy with the same coverage amount for a much lower premium.

The Business

The reason why parametric insurance is affordable compared to traditional insurance is down to the costs and uncertainty associated with each policy. The costs are greater in traditional insurance because they need to pay loss adjusters, claims teams, legal or other costs. Similarly, traditional insurers are more exposed to uncertainty when a flood occurs. They can’t predict the exact damage caused by a flood because of all the variables so their final bill is unknown – and they deal with this uncertainty by charging more premium or refusing to cover flood.

We agree a set payout for when a flood occurs which we measure using our sensor, so we don’t have the costs and uncertainty mentioned above. This means that our premiums can be significantly lower than traditional providers.

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