Meeting the rising need for private residential flood solutions

Did you know that about 96% of households don’t have flood insurance¹ despite the fact that flooding is a common and expensive natural disaster? We want to help homeowners be more prepared for floods.  

Join Nationwide E&S/Specialty Programs for a brief fireside chat with Stephanie Lee, CEO and founder of Titan Flood, as we discuss the rising need for residential flood insurance, the issues associated with today’s common market solutions and how private products can help address this evolving risk for homeowners now and into the future. 

Watch the full video series  

The evolving flood risk landscape

This video highlights how rising global temperatures, sea level increases, and more severe tropical storms are intensifying flood risks, especially for the one-third of Americans living in coastal areas. Lee also discusses the limitations of current market solutions and how private flood insurance products can better protect homeowners now and in the future.

“Global temperatures are creating a huge impact and we’ve seen record setting temperatures over the last five years.” 

Coverage limits that don’t match today’s reality

When flood season arrives, are your clients truly protected? If they’re relying solely on the National Flood Insurance Program (NFIP), the answer might surprise you. As an insurance agent, understanding NFIP’s limitations isn’t just important, it’s essential for providing the comprehensive protection your clients deserve. 

“They have a $250,000 limit on your building and $100,000 on your contents, that’s not really sufficient for the average American today with the shifts we’ve seen in real estate and rebound costs.” 

New concepts coming to market: Ensuring comprehensive flood insurance for your clients

Many consumers remain unaware of private market options for flood insurance, often believing the government is their only choice. This lack of awareness extends to understanding flood risk and the need for insurance. Educating clients about their risks and available solutions is crucial.  

“We have to really get ahead of that and start educating consumers on their risk and explaining what their options actually are.” 

How AI and data are transforming flood insurance

Learn how advancements in artificial intelligence, enhanced data, and evolved modeling have revolutionized the flood insurance industry, enabling more accurate risk assessments and significantly improving loss ratios.  

“We’re now able to better assess the actual risk. We also see loss ratios improving.” 

The future of flood insurance

Hear more about what’s next in the industry as the private flood insurance market is gaining momentum as reinsurers show increased interest, driven by improved profitability and advanced flood modeling.   

“Nationwide’s partnership with Titan is a true testament to the specialized protection we bring to market. Community resilience is extremely important to us, and we see that with Nationwide as well, the focus on innovation and supporting our neighbors.”