Automatic and Scalable Parametric Flood Quoting Opens Next U.S. Growth Frontier for Insurers & Distributors

NEW YORK, March 5, 2026 /PRNewswire/ -- Floodbase, the leading parametric platform for insuring flood risk, today unveiled its Floodbase Quote API. The new platform capability enables insurers and MGAs to collapse weeks-long manual quoting cycles into instant workflows that dramatically accelerate distribution and offer new portfolio flood solutions for the historically underserved U.S. flood market.

Until now, the bespoke and manual nature of large area parametric flood quotes has restricted underwriting capacity and in turn brokers' ability to serve small- and mid-sized markets. The lengthy submission-to-quote cycle meant brokers couldn't get an option in front of all relevant clients. The result? Significant value has been left on the table: Clients remain exposed to significant flood protection gaps, brokers are unable to service their entire book, and carriers have left substantial premium untapped.

That dynamic is now changing. With the Floodbase Quote API, carriers can equip brokers with tools that instantly generate standardized quotes for parametric flood covers. Leading the shift toward self-serve broker distribution, Liberty Mutual recently announced an instant large-area parametric flood quoting application for brokers and MGAs, powered by the Floodbase API. The automated quoting and rating workflows makes it viable to distribute at scale across small- and mid-sized commercial markets where speed, consistency, and standardization are essential.

Beyond accelerating distribution, this expansion of the Floodbase Platform unlocks entirely new parametric flood products previously limited by a manual, location-by-location design process. For the first time, insurers can partner with Floodbase to design large, geographically distributed portfolio solutions – from embedded add-ons to reinsurance solutions – covering thousands of locations in the U.S. simultaneously. This effectively enables insurers and MGAs to scale new products and capture new parts of the market previously out of reach.

"This is a true unlock. We're dismantling structural barriers that have prevented brokers and carriers from serving everyone in the U.S. flood market with scalable parametric flood products" said Annbjørg Medhaug, Chief Product Officer at Floodbase.

Built to enable automatic or self-serve workflows, Floodbase's Quote API instantly returns the assets required to price a standard parametric flood cover for a single-location risk in a specific U.S. state. For a given address or jurisdiction, the API generates a localized daily flood history, based on a standardized coverage design, spanning nearly five decades. With these inputs delivered instantly, underwriters can apply predefined rules or integrate carrier pricing models to generate quotes automatically or with minimal manual intervention, dramatically reducing time to quote.

"The Quote API is built on Floodbase's scientifically rigorous flood modelling infrastructure, which continuously maps and calibrates floods across the United States," said Subit Chakrabarti, Chief Technology Officer. "By delivering location-specific flood intelligence instantly and at scale, we are transforming how parametric flood can be structured and deployed in the U.S. market."

Flood risk is changing. Your underwriting should too. Join the elite group of insurers using Floodbase to simplify the complex and make flood insurance truly scalable. Whether you're looking to serve specific clients or launch a full program, our team is ready to partner with you. Read more about our offering Floodbase or start a conversation with our team here.

About Floodbase
Floodbase is the platform for insuring uncovered flood risk. Built on more than a decade of science and engineering, Floodbase monitors flooding worldwide. Partners rely on Floodbase to design and power flood covers for large corporate and public sector clients insuring previously uninsurable economic loss from flooding. Floodbase partners with leading re/insurers including Swiss Re Corporate Solutions, Liberty Mutual Re, and AXA Climate, and supports the UN, The New York Times, and others to identify and respond to major flood events.

SOURCE Floodbase