Insurtech start-up launches flood insurance wholesale brokerage

Insurtech start-up launches flood insurance wholesale brokerage



Insurtech start-up Joe Flood Insurance Brokerage (JFIB) has announced the full launch of its tech-based flood insurance wholesale brokerage. JFIB was founded by Joe “Flood” Rossi, Art McKinney and Chris St. George with the aim of delivering state-of-the-art flood insurance technology and a consultative underwriting approach to agencies of all sizes.

JFIP has also announced its status as a coverholder of Chubb European Group with the launch of its own proprietary product on Chubb paper, Upstream. Upstream writes all lines of proprietary and excess flood business on A++ Chubb paper.

“We built JFIP to be agent-centric,” Rossi said. “Most of us at JFIB have either been an agent or owned an agency at some point in our careers. With the implementation of Risk Rating 2.0 and all the changes happening in the flood industry, we want to deliver our expertise and experience to agents to make their jobs simpler.”

Read next: Global flood protection gap remains wide – Swiss Re

JFIP plans to release a quote platform to its agent partners in mid-2022. The platform will provide quotes and rate comparisons from many carriers, including JFIB’s Upstream product. The technology will utilize industry data to simplify the quoting, binding and sales process, JFIB said.

The company also provides additional flood insurance-related services, including risk scoring, property risk reports, Letter of Map Amendment filing and more.

JFIB currently has access to 23 carriers and is placing business in 22 states. It plans to be in almost every state within the year.

 

Reference-www.insurancebusinessmag.com

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