Why choose Milliman?

We provide organizations flexible and agile solutions for private flood insurance programs.

Our innovative technology offers a wide range of capabilities in analyzing, operating and managing each phase of development in your private flood insurance program. The modular plug-and-play solutions enable you to create custom, agile platforms to best suit your business needs -- whether you are looking to analyze the market, better manage operations, navigate regulatory issues or improve all three.

Learn how Milliman's innovative technology has helped our clients (case studies)

Analytics

Market Baskets

Issue

You are looking to obtain the right data to understand market conditions and your best steps when entering new flood insurance markets or competing in challenging property markets.

Challenge

It’s difficult to obtain detailed information to model catastrophes, calibrate premiums and understand the market in order to price competitively.

Solution

Using Milliman Market Baskets, you can utilize proprietary geographical data in underwriting, ratemaking, and market evaluation across the United States. Market Baskets allow you to price accurately, minimize adverse selection and create a growing, profitable book of business.

Analytics

Pixel

Issue

You need data-driven insights in order to effectively sell and market your products.

Challenge

You are looking to consolidate multiple sources of competitor premiums and understand your rating position but you do not currently have actionable output for sales and marketing strategies that is complete, consistent and cost effective.

Solution

Tapping into Milliman Pixel (often with Market Baskets), you have a web-based interactive premium comparison platform to help build competitive rates, identifying target segments, and test proposed rates for new products and markets. This cuts out low value, manual efforts and provides quick, confident insights so your team can collaborate on the best next steps for your business.

Operations

Milliman Bungalow

Issue

You are entering the private flood insurance market and want to understand how to manage your risk while remaining profitable.

Challenge

You are facing key barriers to getting started which include high-startup costs, lack of critical market data and complex regulatory requirements.

Solution

Milliman Bungalow is a complete, pre-built flood insurance rating solution which can be customized to your needs. It includes market leading rating granularity, market and GIS data, regulatory pre-approvals for rates and forms*, and customization from the Milliman flood team in a way that is prompt, cost effective and fits your business.

* Bungalow Forms designed by FSC

Operations

PinPoint

Issue

You are an insurer who currently does not fully leverage geospatial insights when looking to optimize flood insurance pricing and underwriting.

Challenge

Some lines like flood and coastal property are hypersensitive to location, yet building geospatial datasets is costly and difficult to implement within existing business systems. Partnering with third-party vendors is not an easy option since they often lack the ability to deliver the insights your business needs.

Solution

Milliman PinPoint provides your existing systems with quick access to actionable geographic rating insights, integrating location-driven pricing, underwriting and market knowledge. A turn-key solution which delivers data 24/7, PinPoint makes it practical for your systems to use location-specific information to fuel deeper competitive differentiation.

Regulatory

Appleseed

Issue

You are an insurer or insurtech wanting to immediately deliver new rating methodologies and risk scoring frameworks.

Challenge

State-by-state approval can be time-consuming, costly, and risky impacting your ability to grow your business quickly and confidently.

Solution

Milliman Appleseed is an advisory organization licensed to submit loss costs, rating factors, and risk scores with state insurance regulators across the U.S. By filing through Milliman Appleseed insurers and insurtechs can bring innovative rating solutions to reach new admitted markets faster, with lower risk and at lower cost.

Milliman’s innovative technology provides you with the flexibility to build a program that best suits your business needs, and is designed for actuaries to take anywhere. This “a la carte” approach gives you the freedom to be agile in building a profitable private flood insurance program that fits you.

Contact a member of the Milliman Flood team for more information on how we can  work together