Combining flood insurance with innovative technology improves coverage and pricing for consumers and insurers alike. (Photo: peachloveu/Adobe Stock) Combining flood insurance with innovative technology improves coverage and pricing for consumers and insurers alike. (Photo: peachloveu/Adobe Stock)

For more than half a century, flood insurance has posed a significant challenge to underwriters in the U.S. Despite the best efforts of carriers, the complexities of flood risk have led to substantial financial losses for companies that have provided flood coverage, deterring most insurers from entering the space.

Consumers have suffered as a result. Flooding is the most common and costly type of natural disaster in the U.S., causing around $5 billion in damage annually, according to federal government reporting.


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