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FloodFlash
Rapid-payout flood insurance
- 21-100 employees
- Fintech
- B2C
- B2B
- Insurance
- Data Analysis
- Nature
- Environmental
- Whitechapel, London, UK
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Company mission
FloodFlash wants to make make event-based cover available to everyone, ensuring that everybody is able to recover from catastrophe.
Our take
Flooding is arguably one of the largest unsolved problem in insurance, and is being exacerbated by climate change. Over the last ten years, an average of $58bn per year of flood damage has gone uncovered by insurance, leaving people, businesses and governments to pay the bill. This is a problem which FloodFlash wants to solve.
At its heart, FloodFlash is an insurance company protecting those most at risk of extreme flooding. FloodFlash is also breaking the mould compared to traditional insurance packages. They use on-site water level sensors and algorithms to set prices and trigger claims- something which reduces the need to account for uncertainty in their premium and which therefore helps keep bills low. This system of parametric insurance makes insurance affordable to those who were previously unable to pay the high costs associated with traditional flood insurance, enabling more people to get the coverage they need. Furthermore, the payout process is kicked off as soon as the on-site sensor detects water levels above a certain height, meaning clients can get their money when they need it, rather than having to battle with paperwork and office bureaucracy.
Having initially focused on smaller policies for UK small businesses, FloodFlash is both expanding into the US and providing cover for much larger corporate clients through its new product 'FloodFlash+'. With the backing of some major funding, the company looks well on track to achieve these goals.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Company share options
Company values
- Own the outcome. We take individual responsibility to get things started and to see them through. We are resourceful, find help when we need it, and our colleagues can rely on us to consider the whole picture.
- Use evidence. The best ideas are shaped using real-world information. We take time to understand problems and find data to challenge and validate what we do.
- Be helpful. We respect and value our colleagues. We share responsibility for the success of FloodFlash, so help each other out, knowing help is there when we need it too.
- Be brave. Big problems can only be solved by those who try. We don’t always know the route, but we thrive on autonomy and freedom, knowing we can all go beyond what we feel we are capable of.
Funding (last 2 of 3 rounds)
Feb 2022
$15m
SERIES A
Jul 2018
$2.5m
SEED
Total funding: $17.8m
This company has top investors
Leadership
Adam Rimmer
(CEO)Experienced insurance-linked securities consultant with an extensive history in capital market and risk management projects, Adam co-founded FloodFlash Ian in 2017.
Ian Bartholomew, PhD
(Chief Scientist)Geoscientist with outstanding research track-record; five years commercial catastrophe risk modelling at industry leader RMS before co-founding FloodFlash with Adam in 2017.
People progressing
Joined as an Account Executive in 2019, promoted after 10 months to Broker Success Manager
Diversity, Equity & Inclusion at FloodFlash
- FloodFlash is an equal opportunities employer, committed to treating all employees and job applicants equally.
- We do not discriminate against any employee or job applicant on grounds of (including, but not limited to) race or colour, nationality, national or ethnic origin, gender, relationship status, religion, age, sexual orientation or disability.
- DEI within the FloodFlash team brings together an abundance of individual strength, potential and perspectives, offering opportunity to bring more rounded solutions to our table.
- We actively encourage candidates from diverse backgrounds to apply.
- We describe what an ideal profile might look like for each role, but we’d love to hear from you if you have other relevant skills and experience.
Articles
Endorsements
All
Inspiring mission (2)
Opportunities to learn (1)
Autonomy (1)
Open and honest communication (1)
Team energy (1)
FloodFlash uses tech and data to solve some of the problems posed by urbanisation and climate change. These are two of the biggest challenges facing the world right now. It's a thrill to be facing them down in such a direct manner.
Marketing
Inspiring mission
Nov 2021
I've never worked anywhere that encouraged people to forge their own path as much as FloodFlash. It's liberating to set your own direction that contributes to the overall growth.
Marketing
Autonomy
Nov 2021
It's a pleasure to dial in to meetings or (god forbid) make it into the office. Energy levels are consistently high and the team is made up of such diverse thinkers and professional backgrounds that it's impossible not to learn new things each day.
Marketing
Team energy
Nov 2021
I joined FloodFlash because they're a fast growing, market disruptor about to launch into the US market. Their mission to make parametric insurance available to as many people as possible has proven a huge success in the UK and being part of the team that takes that success across the pond is pretty exciting!
Software Engineering
Inspiring mission
Nov 2021
At FloodFlash everyone is encouraged to keep on learning, both within your day-to-day role and outside of your normal responsibilities. FloodFlash have supported me with an annual professional development budget and dedicated time for study when I expressed an interest in learning something new outside of my current responsibilities.
Software Engineering
Opportunities to learn
Nov 2021
I'm regularly impressed with the open communication and transparency of the senior members of FloodFlash. They keep us informed of the key decisions going on in the business and very often ask everyone in the Company for their thoughts and opinions on subjects which I would have previously thought were "above our pay grades".
Software Engineering
Open and honest communication
Nov 2021
