About
Floodbase is an AI-driven insurance technology platform purpose-built to address the massive global protection gap in flood coverage. Traditional property insurance covers physical damage but leaves businesses, municipalities, and agricultural operators exposed to the far broader financial consequences of flooding—lost revenue, supply chain disruption, emergency response costs, and infrastructure repair. Floodbase solves this with parametric flood products that pay out based on objectively measured flood extent over a defined area, rather than a traditional claims adjustment process. At its core, Floodbase combines proprietary satellite-based continuous flood mapping technology with a parametric pricing engine and a curated panel of insurance carriers. Brokers can access instant automatic quoting for US commercial clients, structure flexible products across a wide range of limits and budgets, and deliver fast, transparent payouts—typically within days of a flood event. The platform supports use cases across coastal corporates, golf courses, municipalities, farms, and public infrastructure. For government and humanitarian organizations, Floodbase enables disaster response financing that pre-funds recovery before losses are fully assessed. For insurers and reinsurers, it provides data infrastructure and event monitoring to underwrite previously unmappable risk. Notable partnerships include Liberty Mutual for instant parametric flood quoting in the US commercial market. Floodbase is designed for enterprise insurance brokers, risk managers, and public sector organizations seeking holistic flood resilience beyond what standard policies offer.
Key Features
- Satellite-Based Flood Event Mapping: Continuous, real-time flood mapping powered by satellite imagery, enabling event detection and coverage triggering anywhere in the US at any time.
- Automatic Parametric Quoting: Instant quoting capability for US commercial flood risks, allowing brokers to generate and present parametric flood proposals without manual underwriting delays.
- Parametric Insurance Platform: End-to-end platform for designing, structuring, and distributing parametric flood products across a range of industries, budgets, and coverage limits.
- Fast, Automatic Payouts: Payouts are triggered automatically based on measured flood magnitude within days of an event—no loss adjustment process or on-site equipment required.
- Carrier Panel & Broker Partnerships: Deep relationships with insurance carriers and brokers enable compliant, market-ready flood products that can be distributed at scale across commercial and public sector clients.
Use Cases
- Commercial brokers structuring parametric flood products for corporate clients facing business interruption and supply chain disruption from flooding
- Municipalities and public agencies pre-funding disaster response, infrastructure repair, and emergency personnel costs following major flood events
- Agricultural operators—including farms, vineyards, and orchards—protecting land and crop revenue that traditional property policies do not cover
- Coastal corporations and real estate portfolios seeking holistic flood resilience beyond physical asset coverage
- Government and humanitarian organizations using parametric flood triggers to accelerate post-disaster financial response and recovery operations
Pros
- Covers Uninsurable Flood Losses: Fills the critical gap left by traditional property policies by covering business interruption, crop and land loss, disaster response costs, and public infrastructure damage.
- Rapid Claim Payouts: Parametric triggers mean payouts are delivered within days of a flood event without subjective adjustment, giving policyholders immediate liquidity when they need it most.
- Flexible Product Structures: Products can be scaled across a wide range of budgets, coverage limits, and industry verticals, making it accessible to diverse commercial and government clients.
- Market-Leading Flood Data: Proprietary continuous flood mapping technology provides superior spatial and temporal accuracy, enabling more precise risk pricing than legacy flood data sources.
Cons
- Enterprise and B2B Only: Floodbase is designed exclusively for brokers, corporates, and public entities—individual consumers or small businesses cannot access products directly.
- Flood-Specific Scope: The platform focuses solely on flood risk and does not extend to other natural perils such as wildfire, earthquake, or windstorm.
- Contact-Sales Pricing Model: No self-serve pricing or trial is publicly available; accessing the platform requires direct engagement with the Floodbase sales team.
Frequently Asked Questions
What is parametric flood insurance?
Parametric flood insurance pays out a pre-agreed amount based on the objective measurement of a flood event—such as water extent over a defined area—rather than the actual assessed damage to a specific property. This removes the need for loss adjustment and enables faster, more predictable payouts.
How does Floodbase determine when a payout is triggered?
Floodbase uses its proprietary satellite-based flood event mapping to measure the magnitude and spatial extent of flooding. When a flood meets the pre-defined trigger threshold specified in the policy, a payout is automatically initiated.
Who is Floodbase designed for?
Floodbase is built for commercial insurance brokers, risk managers at large corporations, municipalities, agricultural operators, and government or humanitarian organizations that need flood risk coverage beyond standard property insurance.
What types of losses can Floodbase-enabled policies cover?
Floodbase-enabled parametric products can cover business interruption, contingent business interruption, crop and land revenue loss, disaster response and emergency personnel costs, public infrastructure damage, temporary housing, and lost tax revenue—losses typically excluded from traditional property policies.
How quickly are payouts made after a flood event?
Because payouts are based on satellite-measured flood data rather than traditional claims adjustment, Floodbase-enabled policies typically pay out within days of a qualifying flood event, with no on-site inspection or equipment installation required.
