Ceding of flood prone properties to Flood Re can be a tricky task that involves first correctly validating the address of the property in question and then accessing the official Flood Re database.
Now, thanks to an agreement between Flood Re and Addresscloud, those tasks just became a whole lot easier.
With Addresscloud's Match and Intel APIs insurers can validate and check whether a property is eligible to be ceded to Flood Re, automatically, at the time of quote, bind or post bind and all in less than a second!
Coupled with a view of the property this gives insurers a clear view on the risk of flooding and the eligibility of the property for ceding to Flood Re.
API or Spreadsheet
Often insurers will need multiple access points to these data and with our Addresscloud platform that has become something of a simple operation.
Our API offers insurers and their developers the ability to seamlessly integrate a check against the Flood Re database within their existing workflows.
Addresscloud's Batch application enables insurers to simply drag and drop a spreadsheet of addresses onto our web page. Our application then correctly validates the addresses, before matching those addresses to those held within the Flood Re database. The result is a spreadsheet with flags against addresses that are eligible for ceding to Flood Re. See below.
So now with our Addresscloud platform insurers can not only access highly valuable Flood Re data but a host of other property related information, such as age, type, floor area, build period, build date and related perils such as subsidence and crime.
If you are an insurer who would like to know more about how you can access the Flood Re data or would like to run a free test then please get in touch.