The insurtech flood insurance startup, FloodFlash. has raised over £1.9m (about US$2.2m) in funding. The London-based firm has aimed at offering insurance for the previously uninsurable for flood risks—a rising issue with the recent natural disasters. The firm claims to have developed a technology-based approach to make flood insurance available for all, even those with the highest risk.
Seed funding for FloodFlash has included LocalGlobe, Pentech Ventures and InsurTech Gateway. Furthermore, Everest Re is providing insurance capacity for the startup via Llyoyd’s of London, becoming a coverable with the ability to underwrite and issue an increasing number of policies.
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