Floodbase, a parametric flood risk insurance platform, and Liberty Mutual have announced the launch of an instant quoting application for parametric flood (re)insurance in the US commercial market.
The solution allows wholesale and retail brokers to price parametric flood covers in minutes using Liberty’s pricing engine, which is powered by a new API developed by Floodbase. The application is designed to remove friction from what has traditionally been a time-consuming quoting process, delivering the speed and consistency needed to serve the high-volume small to midsized commercial market.
Brokers and MGAs using the application can integrate large-area parametric flood into automated quoting and rating workflows, making it viable to distribute at scale. The application offers multiple optimised structures and pricing options, allowing flood policies to be quoted, positioned and transacted with minimal effort. Previously, parametric flood offerings were largely limited to complex, bespoke placements.
Liberty Mutual head of Parametrics & Agriculture Jean-Christophe Garaix said, “This collaboration enables us to respond to evolving flood risk with faster, more adaptable solutions. It’s the same coverage—just delivered faster and with far less friction, enabling the brokers to effectively explore and customize a client’s flood coverage in seconds before even emailing an underwriter. That not only improves the client and distribution experience, it enables us to respond to evolving flood risk with novel parametric products for small-and-medium market segments.”
Floodbase co-founder and CEO Bessie Schwarz said, “Parametric flood can be an effective risk management instrument bridging protection gaps in traditional policies for small-and-medium businesses in the US – but that requires rapid distribution at scale.
“Liberty’s new instant parametric flood quoting solution solves that, giving U.S. brokers and MGAs the flexibility to embed rapid parametric flood cover into their own quoting environments, enabling scalable distribution across small- and mid-market segments.” This is enabled by the new API that Floodbase has developed and launched to enable any (re)insurer to embed parametric flood directly into quoting and rating workflows. To learn more, contact Floodbase.
Copyright © 2025 FinTech Global
