National Flood Insurance Program Selects National Flood Services as NFIP Direct Service Provider
Original press release published here: https://www.businesswire.com/news/home/20201007005567/en/National-Flood-Insurance-Program-Selects-National-Flood-Services-as-NFIP-Direct-Service-Provider
October 07, 2020 – National Flood Services, a leading provider of flood insurance solutions in the United States, today announced that it has been awarded the National Flood Insurance Program (NFIP) Direct service provider contract. NFIP Direct facilitates the issuance and administration of NFIP insurance policies on behalf of the Federal Emergency Management Agency (FEMA), an agency of the Department of Homeland Security.
The NFIP provides flood insurance to property owners, renters and businesses to help reduce the socioeconomic impact of floods, the nation’s most common and costly natural disaster. NFIP Direct currently consists of approximately 650,000 active policies distributed by a network of more than 30,000 agents.
As the sole provider of NFIP Direct services, National Flood Services will provide quotes, process applications, issue policies, process premium payments and manage active policies directly for insurance agents. National Flood Services will also seek to improve the customer experience, increase the NFIP’s transparency, and provide real-time analytics all through a modern, technology-enabled platform.
“We are honored to be selected for the critical role of providing security, assurance and resources to the hundreds of thousands of policyholders who rely on NFIP Direct for flood insurance to protect their families and businesses,” said Ralph Blust, CEO of National Flood Services. “Since our inception 35 years ago, we have carried the flag for the entire flood insurance industry. By focusing on property owners and their needs, we are committed to closing the nation’s flood insurance gap and reimagining what flood insurance ought to be.”
National Flood Services’ new cloud-based software solution, Trident, combines flood insurance quoting, policy issuance, management and servicing into a single, powerful platform.
“Trident is the only end-to-end flood insurance platform developed in the past decade and its microservice architecture offers quick adaptability for innovation,” said Cynthia DiVincenti, Director of Government Relations at National Flood Services. “Year after year, heavy rain events cause above-average flooding that affects thousands of Americans. Flood insurance can help property owners prepare for the potentially devastating financial impact of these massive storm systems.”
About National Flood Services
For over 35 years, National Flood Services has worked with the country’s top insurance providers to help protect property owners from the costly impact of flooding. In support of FEMA and insurance companies participating in the NFIP’s Write-Your-Own Program, and with the addition of NFIP Direct, National Flood Services will now manage over $2 billion in annual premiums and more than 2 million NFIP policies, furthering its mission of improving people’s lives by reducing the damaging impact of flooding.