FLOOD INSURANCE

Deep water

Complex and unpredictable, flood hazards have typically been insured only by state or federal agencies and a select few private companies. Today, advanced modeling and data innovation are enabling the emergence of more options for those at risk.

Reducing risk

A growing challenge

As climate change increases flood risk, market response becomes ever more urgent. Combining property insurance ratemaking, advanced underwriting technologies, and pricing and profitability analysis, today’s flood insurance market is advancing toward a brighter future.

Article

Conversations about Risk Rating 2.0 Part II

A new pricing approach called Risk Rating 2.0 harnesses catastrophe models to…
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Article

Unpriced costs of flooding; An emerging risk for homeowners and lenders

The U.S. residential real estate market likely has not fully accounted for the…
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Article

Climate risk and real estate: Emerging practices for market assessment

How are leading investors factoring market-level climate risk into decision-…
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Podcast

Digital Insurance Leaders Neptune Podcast: Nancy Watkins

Nancy Watkins speaks with Jim Albert about flood insurance’s coverage gap,…
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Article

U.S. private flood insurance: The journey to build a new market

In recent years, the private flood sector has grown rapidly and will likely…
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Article

Climate gentrification and the role of flood insurance

The visibility of climate’s impact on property hazard is increasingly…
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Article

Eye of the storm: Data modelling brings new hope for flood-prone homes

Regular floods, whether due to hurricanes or simply heavy rainfall, are wreaking…
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Article

Wading into the private flood insurance market

This articles explores some questions and challenges for aspiring U.S. private…
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White Paper

Political winds in a peak hurricane state

Given the volatile political – not to mention atmospheric – winds,…
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Article

Four ways Hurricane Florence could ricochet across the insurance industry

As information emerges about the direct impacts of Florence, we examine four…
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Article

What could private flood insurance look like in New Jersey and New York?

Milliman recently collaborated with Risk Management Solutions, Inc. to model a…
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PRODUCTS

Related Milliman products

Modern flood insurance program

Bungalow

Milliman Bungalow is a private flood insurance plan that includes advisory loss costs, risk classification rating factors, and rating rules.

Geographic rating insights

PinPoint

Milliman PinPoint delivers relevant geographic rating insights to your system at the point of decision through a simple API.

Risk analytics and reporting
Market exposure & risk analytics

Market Baskets

Market Baskets are portfolios of hypothetical risks with realistic distributions of characteristics used for property and flood insurance pricing.

Premium comparison platform
Premium comparison platform

Pixel

Identify new market sectors, pinpoint adverse selection, and make better pricing decisions with a web-based premium comparison tool.

Pension administration and communication
Property & casualty advisory services

Appleseed

Milliman Appleseed is an advisory organization licensed to submit loss costs, rating factors, and risk scores with state insurance regulators across the U.S.

SERVICES

Related Milliman services

Catastrophe reserving and loss reserve verification

Understand the impact of a large event on your portfolio, including analysis of loss-expected contract carve outs.

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Complex risk assessment

Manage threats and opportunities related to complex non-financial risks among people, systems, and the external environment.

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Enterprise risk management

Embed ERM best practices into your organization to create a structured and sustainable business management process.

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Flood insurance

Improve flood insurance with independent flood rating and underwriting, ratemaking, and competitive analysis.

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Predictive analytics solutions

Uncover valuable information hidden in your data, allowing you to take action on key business insight.

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We’re here to help

Ask the tough questions. We’re ready for them.

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