Munich Re signs deal with InsurTech company FloodFlash

Munich Re signs deal with InsurTech company FloodFlash

FloodFlash, an InsurTech offering parametric flood insurance, has signed an agreement with Munich Re.

Munich Summer Summit | Insurtech: Akur8

Wenning meets insurtechs

The insurance industry is transforming. Joachim Wenning, Munich Re’s CEO, talks to Andy Rear, Chief Executive of Digital Partners and John-Paul Pieper, CEO of nexible, who both drive innovation from two different angles – DP as a partner for disruptors, and nexible as the first truly digital insurer in Germany. They discuss the role of start-ups – and the opportunities for both start-ups and incumbent insurers – when they join forces in order to innovate insurance.

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What is reinsurance?

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Parametric Solutions

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Acting fast in the face of severe catastrophes requires a customised solution. Parametric products bring a simplistic and transparent coverage concept for insurers, companies and the public sector alike. When being confronted with risks such as natural disasters or extreme weather events, industries ranging from tourism and trade to renewable energies and agriculture to government agencies can all avoid liquidity shortages by integrating parametric solutions into their coverage ecosystem.

Pre-defined conditions guarantee automatic pay-out when triggered by a major loss event, resulting in a seamless and fast claims settlement process. Parametric solutions are the perfect complement to traditional insurance for policy holders aiming to reduce their risk exposure and bridge the gap between insurable and, so far, uninsurable risks.

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