Mason Owen Financial Services (MOFS) has teamed up with FloodFlash and Qlaims Insurance to combine the simplicity of parametrics insurance and expert project management of repair work to commercial property clients.
FloodFlash installs mobile-connected sensors at the client’s property which reports any flooding. The parametric policy has an agreed limit at the outset, which is paid automatically to the policyholder if water reaches a certain height and the sensor is triggered.
MOFS will, when providing a FloodFlash policy, automatically offer the client a policy from Qlaims Insurance which will see Qlaims’ loss adjusters act as project managers to repair the property, with an expert in major flood losses assigned to the case.
Managing director Andrew Gibbons says: “Working with these two innovative MGAs delivers a best-in-class flood claims service for our clients. There will be no debating with insurers over policy wording and no claim forms to fill in. The client will have funds in their bank to carry out immediate remediation, which will be overseen by a professional who can manage the many contractors and processes required to get businesses trading as soon as possible after a flood.”
Qlaims CEO Malcolm Harvey says: “Andrew is a pioneer when it comes to helping customers all the way through from policy inception to the resolution of a claim. We’re delighted to be working with him and the team at Mason Owen to help get their customers minimise the effects of flood property damage.”
FloodFlash Commercial Director Brent Jackson said: “We’re delighted to enter into this partnership. Mason Owen have combined the best in new products to create a first-class client service. When those clients fall victim of flooding, they will be able to recover faster and better than ever before.”