Floodbase Parametric Platform
Flood monitoring platform that insurers use to write parametric flood policies, which pay out quickly when measured flooding passes an agreed level.
Why it matters
Many people and cities have no flood insurance because traditional claims are slow and costly to assess. An independent flood measurement lets insurers pay fast without sending adjusters. Fremont, California bought citywide coverage this way.
How the technology works
Floodbase builds flood records from satellite observations and other data, and policies are written against triggers on that record. When flooding in a covered area crosses the trigger, the policy pays.
The company says Liberty Mutual, Swiss Re and other large carriers underwrite on its technology.
Sources
Updated Oct 22, 2026 · How we source facts · Suggest a correction