The programme, led by Guidewire, a provider of property and casualty (P&C) cloud platforms, aims to help insurers learn about the latest insurtech companies and maximize their benefits.
Shelly Klose, Founder and CEO of True Flood Risk, expressed excitement about joining the prestigious Guidewire Insurtech Vanguards programme, emphasising its significance for the company. Klose stated, “Through our participation in this programme, we are honoured to provide insurers exposure to our innovative flood risk data and risk management tools. With True Flood Risk’s technology, insurers can unlock deeper insights into flood risk, enhance their risk pricing strategies, and help communicate ways to mitigate potential claims and damages, ensuring greater resilience for their policyholders and communities on a global scale.”
The Insurtech Vanguards program brings together a community of select startups and technology providers that offer novel solutions to the P&C industry. Guidewire provides strategic guidance and support to the participating insurtechs, connecting them with Guidewire’s P&C customers.
Laura Drabik, Chief Evangelist at Guidewire, expressed delight in welcoming True Flood Risk to the Insurtech Vanguards program. Drabik said, “True Flood Risk brings an innovative approach and introduces new property features and flood risk visualisation tools, which we look forward to helping showcase to our network.”
Since its launch in 2018, True Flood Risk has been dedicated to educating property owners, renters, and businesses about their individual property’s flood risk. The company collaborates with leading insurers, mortgage lenders, asset managers, and municipalities to streamline underwriting processes, improve risk selection, optimise portfolio risk concentration, simulate future flood exposure and claims estimates, enhance new customer acquisition, and deliver effective customised communication, education, and outreach initiatives.
True Flood Risk’s mission-driven approach, powered by AI technology, enables stakeholders to understand flood risk, evaluate the financial impact of flood risk exposure, estimate flood insurance premiums and expected losses, and identify optimal property-level mitigation strategies for long-term resilience. Covering over 200 million residential and commercial properties globally, True Flood Risk aims to revolutionise flood risk assessments through innovative and data-driven solutions.
