reThought Flood Joins AAIS Partner Program, Delivering Unique, Technology-Based Approach to Underwriting Flood Insurance
2024年5月7日 - 10:30PM
The American Association of Insurance Services (AAIS) is
excited to welcome reThought Flood to the AAIS Partner Program.
“The goals of AAIS are exactly aligned with our own,” said Cory
Isaacson, Chief Executive Officer of reThought Flood. “Our mission
is to create a sustainable commercial flood insurance market in the
U.S., where 99% of counties flooded since 1996, but fewer than 10%
of households have flood coverage. As a member of the AAIS Partner
Program, we will be able to bring our proven technological solution
to this problem to more risk carriers, brokers, and ultimately, to
more Americans.”
“reThought Flood and AAIS share a vision to work collaboratively
with insurance industry professionals to create solutions that meet
the needs of our customers,” said John Kadous, Vice President of
Products at AAIS. “AAIS Members will be able to leverage reThought
Flood’s expertise and unique approach to pricing flood risk to
further build efficiency and speed to market.”
The AAIS Partner Program provides AAIS Members with unique
access to quality products and services that help them streamline
processes, achieve operational efficiency, and grow their business.
To find out how AAIS Partners like reThought Flood can help create
better customer experiences and increase speed to market, please
visit AAISonline.com or contact the AAIS Member Engagement Team at
membership@aaisonline.com.
About reThought FloodreThought Insurance Corp., which
trades as reThought Flood, is an InsurTech MGA that has deployed
their enormous risk modeling expertise to develop a unique,
technology-based approach to underwriting flood insurance. Their
advanced data analytics create the understanding necessary to build
a sustainable private U.S. flood insurance market.
Unlike others, reThought Flood comprehensively underwrites each
asset to be insured, as well as the peril, using a big-data AI
approach. They have developed award-winning Flood Resilience Scores
(FRS) based on public and proprietary data about the specific
building location, which have a dramatic impact on the likelihood
of flood. The data is applied to their patent-pending AI process to
derive the FRS itself.
Flood Risk Scores allow reThought Flood to confidently price
flood risk coverage which is much more extensive than competing
policies. Advantages for insureds and brokers to offer include
large aggregate limits for buildings and their contents, including
basement contents, plus coverage for loss of use, debris removal,
and costs of construction. Find out more at rethoughtflood.com.
About AAISEstablished in 1936, AAIS serves the property
& casualty insurance industry as the only national
not-for-profit advisory organization governed by its Member
insurance carriers. AAIS delivers high-quality advisory solutions,
including best-in-class policy forms, rating guidelines, and data
management capabilities for commercial lines, inland marine, farm
& agriculture, auto, and personal lines insurers. Their
consultative and unbiased approach, unrivaled customer service, and
modern technical capabilities underscore a focused commitment to
the success of its Members. Together with Member carriers,
insurance regulators, Partners, MGAs, and other key stakeholders,
the AAIS Community is working to build a more cost-effective and
sustainable industry. For more information about joining the AAIS
Community, visit AAISonline.com.
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Wen Tilghman
American Association of Insurance Services (AAIS)
went@aaisonline.com
Dr. Adrian Leonard
Strategic Insurance Communications Ltd.
+44 (0)7977 130 093
adrian@strategicinsurancecommunications.com