KALISPELL, Mont. — (GLOBE NEWSWIRE) — National Flood Services, a leading flood insurance solution provider, today announced the launch of Trident, a wholistic platform that modernizes every aspect of the flood insurance experience for policyholders, agents, write-your-owns (WYOs), claims examiners and back-office operations staff.
Flood insurance has been underserved by technology, despite the wave of innovation transforming other areas of the insurance industry. Homeowners are three times more likely to experience loss from flood than fire, but archaic, paper-logged systems have kept consumers from getting the flood protection they need or the immediate service they require at times of crisis.
“The future of flood insurance requires a modern, tech-enabled approach that simplifies the application, policy management, claims and reporting process for homeowners and agents alike,” said Ralph Blust, CEO of National Flood Services.
A cloud-based flood processing application, Trident brings together every aspect of flood insurance — from purchasing and underwriting to management and servicing — into a single, seamless application.
- Instant. Aided by instant search and an organized agent dashboard, agents can deliver an array of quotes to customers in seconds. Trident’s dynamic UI returns only the information agents need.
- Holistic. Trident is a one-stop-shop for all policy and application tools. Agents and policyholders save time with automatic document scanning, optical character recognition, and powerful workflows that prioritize their most important actions.
- Data-Driven. Smart applications use historical data to tailor forms for optimized data entry. Powerful, real-time analytics give agents valuable insights that let them better evaluate risk and sell more policies.
“With Trident, we used data to improve every part of the flood insurance process, from marketing to claim management,” said Blust. “Every interaction takes place on a secure, cloud-based platform. This means more policies in force, faster claim payments and more satisfied customers.”
“By using Trident to provide instant, reliable access to claims workflows and streamlining communications between agent, customer and staff, we aim to reduce the average claim processing time roughly in half, from 29 to 15 days,” said Danny Rosenthal, Chief Operating Officer at National Flood Services and Senior Partner at PEAK6, a data-driven investment firm that acquired National Flood Services in 2018. “To do this, we focused on building simple, efficient and user-friendly processes that create an intuitive experience for agents and customers alike.”
National Flood Services has 50 agents currently using Trident as part of the platform’s beta testing, with plans to roll it out to an additional 1,500 agents in the next month. Migration of the company’s clients is underway and will be completed by the end of the year.
To learn more about National Flood Services, visit www.nationalfloodservices.com.
About National Flood Services
For over 35 years, National Flood Services has worked with the country’s top insurance companies to help protect homeowners from the costly impact of flooding. In close partnership with the Federal Emergency Management Agency (FEMA) and WYOs, National Flood Services manages over $1.4 billion of annual premiums and more than 1.5 million policies, furthering its mission of improving people’s lives by reducing the damaging impact of flooding.
National Flood Services is a portfolio company of PEAK6, a Chicago-based operating company that specializes in technology investments.