Wednesday, October 4, 2023 / by Richard Eimers
An AI-based, NextGen cloud platform, Titan Flood, plans to offer private flood insurance policies with the ability to provide quotes “in seconds.”
TAMPA, Fla. – K2 Insurance Services (K2) announced a strategic investment in Titan Flood Inc., a new Managing General Agent (MGA) specializing in the private residential flood market. K2 is making an equity investment in Titan Flood and will participate on its board of directors.
Florida is slowly expanding its private flood insurance market and policies that often offer different levels of coverage than the federal government’s standardized National Flood Insurance Program (NFIP) does. That’s a benefit to homeowners who want flexibility in coverage amounts and deductibles, though mortgage lenders don’t always accept private policies as a substitute for NFIP coverage – an issue for those homebuyers who need flood insurance to secure a mortgage.
According to a company release ...