How FloodFlash Smart Quote is helping brokers across the UK
FloodFlash Smart quote is our answer to the question: what if clients don’t know what triggers to pick? Launched in June this year, it has helped countless brokers and their clients make the most of our award-winning insurance.
For the uninitiated, smart quote is a portal feature exclusive to brokers. When brokers submit a quote, the portal processes the data. Smart quote produces a suggested trigger setup and bespoke insights for every single client. It’s our secret weapon that brokers can use to guide clients setting their cover for the first time. "Smart quote uses the science behind the models to give brokers a head-start in their efforts to get the best cover for their clients" Henry Bellwood, Data Scientist.
What brokers are saying
This is the first time anyone has provided bespoke insights to support mass market uptake of parametric insurance. FloodFlash brokers now have the power of our modelling data at their fingertips. Here’s what they are saying:
"I like the recommendation and insights. I found it very useful for understanding the risk and for talking to the client." - S
"Less labour intensive than other portals out there." - C
"Love it!" - J
"The insights are very helpful and the portal is easy to use." -M
The future of smart quote
The best thing about smart quote is that it will only get smarter. Over time machine- learning and AI capabilities will help smart quote learn about real business needs and translate them into more accurate calculations for brokers and their clients.
We always encourage brokers to tweak the cover to suit their clients, but there may be a time in the future where FloodFlash can generate the exact policy that a client needs based on their potential losses. In other words, this is only the beginning.
If you’re a FloodFlash broker you can access smart quote through the FloodFlash broker portal. Not signed up to provide our award-winning cover? Email firstname.lastname@example.org today.
Authored by FloodFlash
FloodFlash is a new type of rapid-payout flood insurance. It uses the latest data modelling and connected tech to bring parametric insurance to the mass market for the first time. The result is fast, easy and flexible cover that pays claims within days of a flood.
FloodFlash is parametric or `event-based` insurance. When buying the cover, the client chooses the depth of flooding they wish to insure against and how much they’d receive when that flood happens. When the FloodFlash sensor installed at the property detects flood water at the selected depth, the claim is paid in full. No waiting. No haggling.
FloodFlash rapid-payouts were put to the test in February 2020 when Storm Ciara swept across the UK. Claims related to the storm were paid in full within a single day. That speed of claims payment remains the fastest and best proof of mass-market parametric insurance to date gaining acclaim at industry awards and recognition from The Times, The Telegraph and the BBC.
FloodFlash operates across Britain, is headquartered in London. Floodflash is a registered coverholder at Lloyd`s of London and is authorised and regulated by the Financial Conduct Authority.