You may already be thinking of offering a private flood product to:
- Drive new revenue through a largely untapped flood market with the potential to be about 40% as large as the homeowners market
- Provide better customer protection through modern, complete insurance coverages
- Secure your hold on your property insurance customers before your competitors offer more comprehensive coverage
It is often less clear what your best path is for implementing a successful flood program. You need to:
- Be fully aware of your options
- Understand how flood can work with your company’s risk appetite, footprint, plans and culture
- Fill gaps in staff capacity and flood-specific expertise
- Have strong, actionable answers to critical business questions
What is the Flood Fast Start Services offering?
Obtaining clarity on the right roadmap for your flood journey can be difficult and time-consuming, so Milliman has created an expedited engagement to provide a path forward. This puts our flood expertise and experience at your service to assess flood options, benefits, and next steps as they apply to your business.
What outcomes do you get?
- Estimated financial opportunity based on your goals and current footprint, combined with our flood market baskets, premium estimates, and take-up modeling
- Detailed assessment of your flood options in terms of resources, timing, data requirements, risks, and benefits
- Recommended path forward based on your specific criteria
- We are widely acknowledged as innovators and thought leaders in the flood insurance space
- We are the global market leader for actuarial consulting within the insurance industry, advising 44 of the top 50 insurers globally
- We bring deep expertise in delivering advanced predictive and machine learning solutions so that insurers grow profitably
- With over 80 products, we are a recognized leader in award-winning prebuilt insurance solutions that accelerate time to business value
- We bring local market presence, leveraging our in-depth knowledge of the insurance regulations and markets in which we operate
- We combine analytic excellence with a tailored approach to deliver the best solutions to fit our clients’ unique risk appetites