Mark Hara, CEO of Floodflash (operating in North America) announced plans to expand the firm into U.S market. He will be charged with developing and executing responsibility of firm within U.S go to market strategy which initially applies on commercial property in Florida, Virginia, Texas, Louisiana, and California.
He will execute the task by building a lead team for this by locking partnerships with brokers of such areas around the country .
Being experienced in this particular field of marketing and insurance in multi billion dollar, brands such as P&G and Nationwide, he also laid the two insurtech startups – Mylo and Bold Penguin. Parametric insurance is the best way to relief in terms of insurance of catastrophic flooding sufferers. Thus, Floodflash aims to operate in the biggest flood market in the world, this will leverage American business and provide it with affordable coverage in coming years.
The federal emergency management agency FMA says that –
90% of smaller companies fail within a year until they can resume the work within 5 days. Covid is the best example currently which took many platforms to this stake and the outcomes of some were their shut down. To speed up the business and keep it going, major problems faced by source of incomes of a company is to provide cash fast. This certain gap is the which company urges to fill which resides between traditional and Parametric Insurance products.
Traditional claims are used in where catastrophic flood claims takes months to resolve which might affect the business income , overload it with debts, staff wages, tax and liabilities, these claims are underlined by the company priority list.