The Wrong Tools for the Job: Why Four Common Flood Proxies Fail Parametric Insurance

The flood measurement tools most insurers rely on for large areas were built for other jobs and fall short at accurately measuring large-area flood loss.

The Floodbase Platform powers Europe’s largest parametric flood program, covering 25,000+ churches across Italy. It recently triggered immediate payouts during major rainfall events, securing rapid liquidity for direct and indirect impacts.

Now available per event for insurers, governments, responders, media, and more, the new release accelerates Floodbase’s accurate, near-real time flood mapping capabilities, built on a groundbreaking approach powered by AI, satellites, and other sensors.

The new flood coverages, backed by an “A+” AM Best rated carrier, dramatically expand limited commercial insurance options in New Orleans, covering any type of economic loss

Floodbase announced a $5 million investment led by Ecosystem Integrity Fund (EIF) with participation from Pulse Fund. The investment will allow Floodbase to accelerate development of flood insurance programs, cementing its position as the industry standard for a new category of flood insurance.

Property insurance, larger private flood policies, and indemnification are absolutely necessary components of any flood response strategy. But resilience requires more than indemnification.

AON plc a leading global professional services firm, today announced the launch of a new parametric insurance solution designed to address and mitigate losses from hurricane-related storm surge along the coast of the U.S.

New program will enable community-based flood insurance in southwest Virginia

California municipalities are largely uninsured against flooding, despite atmospheric rivers costing the state more than $1B annually. A first-of-its-kind parametric flood insurance program leverages Floodbase’s advanced AI monitoring technology, providing comprehensive coverage to close the municipal flood protection gap.

The “Tees-to-Green” flood program leverages Floodbase’s advanced AI monitoring technology to provide comprehensive flood coverage for business interruption and damages to the golf course itself.

Floodbase has been awarded a grant through the U.S. Agency for International Development (USAID) to launch parametric flood insurance programs in Mozambique and Malawi, with support from African Risk Capacity Limited (ARC Ltd.) and Global Parametrics

Floodbase and Capella are announcing a strategic partnership to bring additional high-resolution synthetic aperture radar (SAR) satellite data to Floodbase’s end-to-end solution for parametric flood insurance. This partnership will expand Floodbase's payout trigger certification functionality for parametric insurance products by capturing the magnitude of flooding at high resolution and regardless of cloud cover.

Floodbase and Oneglobal are partnering to close the flood insurance gap with cutting-edge parametric flood insurance solutions.

Floodbase has announced a partnership with Ag Guard to develop and distribute parametric flood insurance programs across Australia and New Zealand.

Floodbase announces a partnership with African Risk Capacity Limited (ARC Ltd) to develop, distribute, and scale parametric flood insurance solutions across Africa.