SpatialKey Blog | Visionary Intelligence for a World of Risk

3 small steps for the U.S. private flood market

Flood risk NFIP reform private flood

Advancements in flood mapping, model science, and analytics mean insurers have the information they need to more accurately quantify and price flood risk
NFIP is openly acknowledging the need for more private sector involvement, with (fingers crossed) more favorable legislation likely coming down the pike
Consumers and businesses alike are becoming savvier to the need for flood insurance or better coverage (e.g. Hurricane Florence exposed a large protection gap with an estimated 70% of total losses uninsured)
Insurers are looking for new markets and areas to expand their portfolios—and US flood is a leading candidate
With an extensive amount of excess capital in the market, now is a prime time for startups, re/insurers, MGAs, and brokers to partner up—and dip their toes in the private flood pool

Flood Insurance flood data flood risk assessment private flood

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