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 policies underwritten by a panel of insurers and reinsurers in an effort to allow clients the ability 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 gauges.
