The first development centres around flood data which will identify property specific flood risk at point of quote to provide an immediate underwriting decision and price.
David Whitaker, managing director of Plum Underwriting, said: “We are delighted to engage in a strategic relationship with these forward thinking brands. After listening to our brokers, we believe the collaboration is a perfect fit to drive forward an even wider specialist home insurance appetite and allow end consumers access to flood risk protection where it is needed most.
“We are looking forward to strengthening and developing our proposition further to drive forward Plum’s ongoing innovation centred around data and technology and have now actively engaged with FloodRe to build on this initiative.”
“It will provide home insurers with a more informed view of flood, giving them more confidence to underwrite risks they may have otherwise been hesitant to take on.”