Revolutionizing Flood Insurance in Asia: The Groundbreaking Partnership of Floodbase and OneGlobal

Floodbase, a leading provider of flood data and analytics, and Oneglobal, a re/insurance intermediary, have announced a strategic partnership to develop and distribute parametric flood insurance solutions across Asia. This collaboration aims to close the flood insurance gap in the region by offering innovative and cutting-edge insurance products.

Closing the Flood Insurance Gap

One of the primary goals of this partnership is to address the significant flood insurance gap in Asia. Despite the region being prone to devastating floods, many individuals and businesses still lack adequate insurance coverage. By leveraging their respective expertise and technologies, Floodbase and Oneglobal aim to develop parametric flood insurance solutions that can effectively manage flood risks and provide timely payouts to policyholders.

Combining Floodbase’s flood data and Oneglobal’s expertise

Floodbase brings unparalleled historical and near real-time flood data to the table, enabling accurate identification and assessment of flood risk. Oneglobal, on the other hand, boasts extensive experience and expertise in the re/insurance industry. By combining Floodbase’s flood data with Oneglobal’s re/insurance expertise, this partnership aims to create robust parametric flood insurance solutions that align with the unique needs of the Asian market.

Oneglobal’s first mover advantage

Through its collaboration with Floodbase, Oneglobal gains a significant first-mover advantage in utilizing advanced flood data and technology. This advantage allows Oneglobal to stay ahead of competitors in offering tailored flood insurance solutions to clients across Asia. By leveraging Floodbase’s flood data, Oneglobal can better assess flood risk and design insurance products that effectively address the needs of different industries and demographics.

Building innovative flood insurance programs

Together, Floodbase and Oneglobal strive to build programs that offer innovative solutions to natural catastrophe risk exposures impacted by flooding in Asia. Parametric insurance solutions, which provide timely payouts based on pre-agreed triggers such as a specific level of rainfall or flood depth, will be a key focus. By utilizing Floodbase’s flood data, this partnership aims to enhance the accuracy and efficiency of parametric insurance triggers, enabling faster claim settlements and a more streamlined insurance process.

Formed through Lloyd’s Lab

The strategic partnership between Floodbase and Oneglobal was formed through the prestigious Lloyd’s Lab, a global innovation accelerator. This collaboration highlights both companies’ commitment to embracing technological advancements and driving innovation within the insurance industry. By joining forces, Floodbase and Oneglobal are poised to transform the flood insurance market in Asia through their groundbreaking solutions.

Parametric Insurance Solutions

Parametric insurance solutions play a crucial role in addressing the challenges of flood insurance in Asia. These solutions offer policyholders the benefit of timely payouts based on pre-agreed triggers, eliminating the need for lengthy claim assessment processes. Floodbase’s flood data will be instrumental in accurately determining whether the pre-agreed triggers have been met, facilitating quicker and more efficient claim settlements. This approach enables policyholders to swiftly recover from the financial impacts of flood-related losses.

Addressing the issue of underinsurance in Asia

The collaboration between Floodbase and Oneglobal seeks to address the worrying issue of underinsurance in Asia. With floods being a common occurrence in the region, the lack of adequate insurance coverage leaves many individuals and businesses vulnerable to substantial losses. By developing innovative parametric flood insurance solutions, Floodbase and Oneglobal aim to bridge this insurance gap and ensure that more people and businesses have adequate coverage to protect themselves against flood risks.

Making an Impact in the Flood Insurance Market

By combining their unparalleled expertise, Floodbase and Oneglobal have the potential to make a significant impact on the flood insurance market in Asia. Through the strategic use of Floodbase’s flood data and Oneglobal’s re/insurance prowess, they can provide targeted and effective insurance solutions that address the specific needs of Asian businesses and individuals. This collaboration represents a new era of flood insurance, one that leverages advanced technology and data analytics to create more comprehensive, accessible, and timely coverage options.

The partnership between Floodbase and Oneglobal in developing parametric flood insurance solutions in Asia holds promise for the future of flood risk management in the region. By combining Floodbase’s flood data with Oneglobal’s re/insurance expertise, this collaboration aims to close the flood insurance gap and ensure that individuals and businesses have the necessary coverage to protect themselves against the financial impacts of flooding. Through innovation and a shared commitment to excellence, Floodbase and Oneglobal are poised to shape the future of flood insurance in Asia, bringing resilience and peace of mind to communities at risk.

Explore more

Free CRM Features vs. Paid CRM Upgrades: A Comparative Analysis

In the rapidly evolving landscape of digital tools, small businesses face the compelling challenge of optimizing customer relationship management without excessive costs. With free CRM software solutions becoming increasingly sophisticated, entrepreneurs must decide whether to invest in paid upgrades. This comparative analysis explores free CRM features versus paid CRM upgrades by highlighting essential facets, allowing businesses to make informed choices.

ABM Emerges as Top Strategy in B2B Marketing Transformation

In the ever-evolving landscape of B2B marketing, strategies like account-based marketing (ABM) are reshaping how companies engage with high-value clients. Today, we delve into this transformative approach with Aisha Amaira, a leading expert in MarTech known for her ability to blend technology and marketing prowess. Aisha shares her insights on why ABM is rapidly gaining traction and the role artificial

Trend Analysis: AI Impact on B2B Marketing

In the dynamic world of business-to-business marketing, artificial intelligence is emerging as a pivotal player reshaping traditional marketing paradigms. This transformative shift is highlighted by surprising statistics: a vast majority of B2B marketers—71%—express optimism about AI’s potential to revolutionize their field. This optimism is fueled by AI’s ability to streamline tasks, enhance workflow efficiency, produce superior content, and boost creativity.

Are You Ready for 2025’s B2B Marketing Revolution?

B2B marketing is undergoing a seismic shift, propelled by evolving technologies, changing buyer behaviors, and increased competition. Companies find themselves navigating a landscape that demands innovation, precision, and adaptability. The question for businesses is no longer if they should evolve, but how quickly they can adapt to the burgeoning changes. As traditional strategies falter, B2B marketers must harness cutting-edge techniques

How Can We Combat Evolving Ransomware Threats?

The relentless advance of ransomware continues to be a formidable challenge in the digital landscape. As cybercriminals refine their tactics, the emergence of what is now termed ‘Ransomware 3.0’ symbolizes a more sophisticated and perilous form of attack. Unlike its predecessors, where encryption and data hostage-taking were the primary focus, the latest ransomware wave involves intricate extortion schemes, including threats