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Video: Record flood claim settlement underlines value of parametric insurance

Floodflash founder CEO Adam Rimmer talks to Insurance Age content director Jonathan Swift about how it paid a Storm Christoph claim in January within 9 hours and 44 minutes.

The time - measured from the flood triggering the policy to the client receiving their settlement in full - beat the previous record of 26 hours and 15 minutes set during Storm Ciara in February 2020.

Rimmer tells Swift why it is so important to pay claims so quickly, why he believes Flood Re should not be extended to cover SMEs and how the understanding of parametric insurance among brokers and their clients is growing.

TO READ THE FLOODFLASH COMMERCIAL RISK REPORT 2021 CLICK HERE

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