Closing the flood risk gap
Florida-based Security First was one of the first Swiss Re customers to directly integrate the modelling tool, part of our Flood Toolkit, into its policy administration system. Now agents can generate premium quotes in real time to immediately add flood coverage to customers’ existing homeowners policies. The number of policyholders opting to add flood insurance has significantly exceeded expectations, according to Security First.
This infographic does not represent the highest definition our Flood Toolkit model can offer
Broader adoption in the future
The policies made possible by the model’s insights also protect customers who live inland along rivers and in cities with aging drainage infrastructure, where heavy rains often result in inundation.
ca.
USD 40bn
is the estimated economic loss from major storms in 2018 (Source: Swiss Re Institute)
