Burns & Wilcox, a company specialising in wholesale insurance brokerage and underwriting, has announced that the Hiscox FloodPlus insurance product is now accessible through its automated platform, IssueQuick.
Flood risks, often underinsured, present a significant challenge in the U.S. according to Brad Turner, the vice president and national product manager for flood at Burns & Wilcox.
Hiscox FloodPlus looks to offer insurance brokers and agents a more streamlined way to manage flood risk policies by combining risk modelling and claims data through a unique Flood API.
Meanwhile, IssueQuick enables users to quote, renew, and manage policies more efficiently. The platform covers both residential and commercial properties, simplifying the process for insurance professionals.
Tom King, a line underwriter from Hiscox, emphasized that beyond being a mere technological solution, IssueQuick helps deepen understanding and management of complex flood risks. This not only supports brokers and agents, he said, but also extends the availability of necessary insurance coverage.
Specialising in both Primary and Excess Flood insurance, the Burns & Wilcox team also offers Parametric Flood coverage, which relies on physical sensors to detect floods. This approach allows for quick, direct compensation based on pre-set conditions related to the client’s budget and risk exposure.
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