Flood Risk Solutions, Inc. (FRS), established in 2017 by Brendan Moeller and Eugene Podokshik, is transforming the landscape of flood insurance across the United States. Born from the urgent need for expanded private flood insurance options, FRS leverages a cutting-edge technology platform to streamline the quote, rate, and binding processes for both residential and commercial risks. The founders identified significant gaps in the market, especially amidst the dominance of the National Flood Insurance Program (NFIP), which often limits choices and imposes escalating rates on consumers. With a mission to democratize access to flood insurance, FRS aims to simplify the procurement process, offering a diverse suite of products ranging from primary and excess flood insurance to innovative parametric solutions.
Since becoming a coverholder for Lloyd's of London in 2018, FRS has consistently introduced groundbreaking insurance programs. Among its notable offerings is the Preferred Risk Policy™ (PRP), which addresses affordability and accessibility for homeowners across various risk levels. The company stands out in the market with its proprietary comparative rater technology, the fastest in the industry, allowing agents to access a wide array of insurance options quickly. By harnessing real-time flood model results, FRS enhances pricing and underwriting decisions, empowering agents to effectively serve their clients with customized coverage.
The company has forged strategic partnerships with significant players in the insurance sphere, enhancing its capability to deliver tailored flood mitigation products and services. FRS continues to innovate by introducing additional solutions to its portfolio, maintaining a relentless focus on excellence and client satisfaction. Their commitment to reshaping the flood insurance sector not only emphasizes risk mitigation but also aims to build resilience against future flooding challenges, ultimately leading to a more secure tomorrow for property owners nationwide.
