Floodbase

Floodbase is hiring! Join us in 2025 to change the way businesses and communities adapt to increasing flood risk. ?? Commercial Director ?? Director of Finance ?? Senior Product Manager, Insurance ??? Machine Learning Engineer ?? Insurance Structuring Data Scientist View all openings and apply ?? https://lnkd.in/eWzWRNmJ #hiring #floodparametric #floodinsurance #insurancejobs #floodresilience #parametricinsurance #machinelearning #jobs

Enabled by Floodbase data, the City of Fremont - population 226,000 - in September became the first municipality in the nation to buy its own citywide parametric flood insurance policy. Steven Schwarz, the city’s risk manager said, “The parametric basically allows me to provide specific coverage and then broaden it,“ he said. “I’m actually covering the event and not the building itself.” In this article Bloomberg explores how parametric flood insurance can bolster municipal resilience. Amwins Alliant Insurance Services #floodinsurance #floodparametric #localgov #stateandlocal #localgovernment #parametricinsurance

Enabled by Floodbase data, the City of Fremont - population 226,000 - in September became the first municipality in the nation to buy its own citywide parametric flood insurance policy. Steven Schwarz, the city’s risk manager said, “The parametric basically allows me to provide specific coverage and then broaden it,“ he said. “I’m actually covering the event and not the building itself.” In this article Bloomberg explores how parametric flood insurance can bolster municipal resilience. Amwins Alliant Insurance Services #floodinsurance #floodparametric #localgov #stateandlocal #localgovernment #parametricinsurance

Traditional flood insurance often falls short - but Floodbase and Amwins are changing that with satellite data and parametric solutions. In an episode of the InsTech Podcast, Alex Kaplan, EVP, Alternative Risk and Emmalina Glinskis, who leads Public Sector Partnerships at Floodbase speak on how data-driven insights are transforming coverage for municipalities, golf courses, and more. ?? Listen now to explore the future of flood risk management: https://hubs.ly/Q0380X7H0 #FloodInsurance #ParametricInsurance #RiskManagement

Floodbase’s storm-surge parametric insurance solution is designed to fill coverage gaps in traditional and non-traditional insurance policies for U.S. coastal corporate clients. Backed by Swiss Re Corporate Solutions, the new program enables brokers to cover previously uninsurable economic losses from storm surge, and help clients: ?? Secure additional flood capacity to cover economic loss caused by storm surge ?? Fill gaps by covering both direct and indirect loss without exclusions ?? Receive quick payouts following hurricanes without a complex claims process Learn More ?? https://lnkd.in/dhgxryKZ #floodinsurance #parametricinsurance #floodresilience #stormsurge

Floodbase’s storm-surge parametric insurance solution is designed to fill coverage gaps in traditional and non-traditional insurance policies for U.S. coastal corporate clients. Backed by Swiss Re Corporate Solutions, the new program enables brokers to cover previously uninsurable economic losses from storm surge, and help clients: ?? Secure additional flood capacity to cover economic loss caused by storm surge ?? Fill gaps by covering both direct and indirect loss without exclusions ?? Receive quick payouts following hurricanes without a complex claims process Learn More ?? https://lnkd.in/dhgxryKZ #floodinsurance #parametricinsurance #floodresilience #stormsurge

California is struggling with natural disasters. Recent estimates suggest the 2023 atmospheric river season caused the state over $10B of economic loss. Season after season, governments are left to manage financial uncertainty and navigate millions of dollars in damages, lost revenue, and recovery expenses. Property insurance is wildly insufficient, and so are rainy day funds. State and federal aid takes years to distribute. In this post, Floodbase’s Scott Dwyer suggests that the way to bridge California’s flood coverage gap is through parametric insurance that enables public entities to receive quick payouts following catastrophic floods. #floodinsurance #parametricinsurance #floodresilience #stateandlocal #California #localgov

The Monterey Herald recently wrote about the county’s growing flood risk problem, which is a common refrain in California. Floodbase is proud to partner with Amwins and Swiss Re Corporate Solutions, as well as public sector brokers in a statewide push to supplement existing insurance offerings. Read on to learn more: During this winter of extremes in California, with tragic wildfires raging in the south and most of the season’s rain falling in the north, the insurance market has fallen only deeper into crisis. But one flood insurance product for local governments recently launched in the state models a different approach designed for such erratic climate patterns. The County of Monterey, which spent upward of $100 million to recover from flooding during the prior two winters, is among governments statewide looking closely at the new flood insurance option. Monterey County had applied for relief from FEMA after atmospheric rivers saturated the region, but it still awaits some of the federal reimbursement. By contrast, the new insurance product, which uses a structure dubbed “parametric,” vows to immediately deliver smaller payouts for a flexible range of emergency costs. “We would be doing a disservice not to explore these new and emerging insurance structures because we’re always looking for innovations that can help our county,” said David Bolton, Monterey County’s risk manager who helps the county manage its insurance. Flood damages during recent winters tested the County of Monterey’s financial safety nets. A levee breach severely disrupted life for the mostly low-income community of Pajaro, and the Salinas, Carmel and Big Sur rivers all topped their banks. The county has 20 insurance lines, including for its properties, but relies on FEMA to cover damage to public infrastructure during disasters. The county, however, had to pull from reserves and state loans to repair its roads, bridges, buildings and parks with FEMA bogged down with claims and notoriously slow to deliver. Meanwhile, in the immediate aftermath, most renters and homeowners largely fared alone. Much of California shares Monterey County’s story... Learn more about the program here ?? amwins.com/muni-flood #California #parametricinsurance #floodresilience #stateandlocal Swiss Re

Floodbase?is excited to announce a $5 million investment led by?Ecosystem Integrity Fund (EIF) with participation from?Pulse Fund,?a leading climate tech investor. 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. "Flood insurance has typically been limited to direct property damage, which only represents a fraction of the overall economic loss. We're enabling a financial safety net that can cover any economic loss associated with a flood event." -?Bessie Schwarz, Co-founder and CEO of Floodbase. Read the full announcement here ?? https://lnkd.in/eyuTyT4q #floodinsurance #floodresilience #climatetech #parametricinsurance

Headed to #Parmaconf2025? Floodbase’s Bessie Schwarz and Scott Dwyer will be there! Reach out to learn how Floodbase enables public sector brokers to provide local governments with much needed flood coverage. DM Scott to connect with us and join our event Tuesday evening. #floodinsurance #riskmanagement #stateandlocal #localgov