National Flood Services has launched Trident, a new policy, claims and reporting platform that modernizes the way flood insurance is purchased, underwritten, managed and serviced.
COMPANIES: National Flood Services (NFS); PEAK6 Investments
AVAILABILITY: NFS is rolling out Trident on a client-by-client basis. They currently have five insurance carriers totaling 5,000 agents on the platform and will complete the rollout by the end of the year. Trident is available nationwide to any policyholder working with an NFS client.
FOCUS: Trident is a new policy, claims and reporting platform that modernizes the way flood is purchased, underwritten, managed and serviced. Trident modernizes every aspect of the flood insurance experience for policyholders, agents, write-your-owns (WYOs), claims examiners and back-office operations staff. By combining these processes into a single application, Trident makes it easier for agents to protect their customers from flood risk.
COVERAGE DETAILS: NFS is the No. 1 flood solutions provider in the country, managing over 30 of the top flood insurance programs and helping to protect more policyholders than anyone else. They serve over 1.2 million policyholders with $1.4 billion in written premiums and have delivered nearly $10 billion in flood claims while serving homeowners through some of the largest flooding events in U.S. history.
“Trident introduces a new era of simplicity into flood. It applies a modern, simple and dynamic user interface, helping agents and policyholders navigate through flood terminology," says Scott Kramer, vice president of product, National Flood Services. “It integrates the entire experience so that an agent can seamlessly transition from policy views to claims, to risk evaluation."
Specific features include:
Instant quoting. Returns quotes in seconds and updates based on user information.
Smart search. Finds any policyholder in seconds using any data field.
Robust workflows. Prioritizes actions to organize an agent's activities.
Custom analytics. Integrates custom analytics to simplify processes.
Smart applications. Removes the need for manual data entry.
Trident has already demonstrated a dramatic impact on the speed and simplicity of accessing the flood product. So far, NFS has seen:
The application completion time drop from five minutes and 18 seconds to 40 seconds.
The number of clicks to quote drop from 46 to 13.
The number of clicks to application completion drop from 46 to seven.
UNDERWRITING: The National Flood Insurance Program (NFIP) takes into account several factors to calculate a premium, including flood zone, historical claims and property characteristics. Trident simplifies the navigation through these application steps and makes it easy to quote and find the right coverage for property owners.
Further, the NFIP offers different coverage levels for both property and contents. Trident allows the policyholder and the agent to quickly customize levels of coverage and provide instantly updated quotes, providing the opportunity to quickly identify the right level of coverage.
TARGET: NFS currently works with over 30 Write-Your-Own insurance carriers as part of the National Flood Insurance Program (NFIP). They insure property owners across the country.
COVERAGE AVAILABILITY: Available in all 50 U.S. states.
COVERAGE TERRITORY: Trident is available for agents whose carriers work with NFS for their flood program.
CONTACT: Scott Kramer, vice president of product, National Flood Services.
Will Jones is IA managing editor.