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Insurtech start-up launches flood insurance wholesale brokerage

A start-up in the field of insurance technology Joe Flood Insurance Brokerage (JFIB) has officially launched its tech-based wholesale flood insurance brokerage. Joe “Flood” Rossi, Art McKinney, and Chris St. George formed JFIB with the goal of providing agencies of all sizes with cutting-edge flood insurance technology and a consultative underwriting strategy.

With the launch of its own bespoke product on Chubb paper, Upstream, JFIP has also revealed its status as a coverholder of Chubb European Group. Upstream uses A++ Chubb paper for all proprietary and excess flood business lines.

Rossi stated, “We created JFIP to be agent-centric.” “At some time in our careers, the majority of us at JFIB have either worked as an agent or ran an agency.” Risk Rating 2.0 has been implemented.

In mid-2022, JFIP expects to deliver a quotation platform to its agency partners. Many carriers’ quotations and rate comparisons will be available on the site, including JFIB’s Upstream offering. According to JFIB, the system will use industry data to ease the quoting, binding, and sales process.

Additional flood insurance-related services offered by the company include risk scoring, property risk surveys, Letter of Map Amendment filing, and more.

JFIB presently works with 23 airlines and places orders in 22 states. It intends to be in nearly every state by the end of the year.

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