Flood Risk Solutions

What Flood Risk Solutions does

Flood Risk Solutions (FRS) is a privately held Managing General Agent (MGA) founded in 2017 by Brendan Moeller and Eugene Podokshik, operating as a division of Platinum Specialty Underwriters and headquartered at 360 Central Avenue, Suite 800 in St. Petersburg, Florida. The company distributes primary and excess flood insurance across the United States through a network of contracted agents, brokers, MGAs, and carriers, with Lloyd's of London coverholder status held since 2018 and 30+ insurer partnerships spanning domestic E&S carriers, Lloyd's syndicates, and MGA capacity providers.

FRS's core technology is the proprietary Flood Rater, a web-based multi-rater portal launched in 2020 that canvasses both the NFIP and the entire private flood market to deliver bindable quotes in approximately 30 seconds and complete transactions in 2 minutes. The platform integrates with carrier systems for real-time pricing and binding and offers API connectivity with partner agency management systems, including a documented integration with EZLynx. The product portfolio spans nine lines: Preferred Risk Policy™ (PRP) starting at $50/year for low-to-moderate risk areas, Primary Flood from domestic E&S and Lloyd's markets, Flood Wrap™ excess flood (in-house authority to $7.5M, commonly structured to $25M), Parametric Solutions using river/tide gauges and satellite triggers, Wind Deductible Buy-Downs, Custom Flood Risk Transfer for transactions over $500M TIV, Personal and Business Cyber Protection (including Cyberman365 via Node International), and Floodproofing referrals through Floodproofing.com.

Revenue is generated through commissions on placed flood, cyber, and parametric premiums across the multi-carrier platform, supplemented by fees on complex risk transactions handled by the dedicated Complex Risk Division (serving $1B+ TIV accounts). Distribution is exclusively indirect through appointed partners who access the Multi-Rater Portal directly, submit via email, or integrate via API. The company reports 1-10 employees, operates without disclosed external funding (likely funded through parent Platinum Specialty Underwriters), and has executed strategic partnerships including a 2025 alliance with Southern Insurance Underwriters to broaden agent network access.

Name

Flood Risk Solutions

Legal name

Flood Risk Solutions, Inc.

Website

https://floodsol.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Flood Risk Solutions is a tech-enabled flood insurance Managing General Agent and Lloyd's of London coverholder that distributes primary, excess, parametric, and cyber coverage through a proprietary multi-rater platform to agents, brokers, MGAs, and carriers across the United States.

Ownership category

akta.pro rank

Product category

Flood Insurance / Specialty Insurance MGA

NAICS

Insurance Agencies and Brokerages (524210), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Flood Insurance (FSAJACAG)

akta.pro secondary industries

Risk Scoring, Hazard & Geospatial Analytics (FSAOAIAE), Resilience Finance & Risk Transfer Analytics (Parametric Design, Cat Bonds, Public Risk Pools) (EUABALAK), Flood Risk Modeling, Mapping & Forecasting (Hydrology/Hydraulics, Digital Twins) (EUANAEAH)

Keywords

• Flood insurance solutions
• Managing general agent
• Insurance multi-rater platform
• Excess flood insurance
• Parametric flood coverage

Headquarters

HQ city

St. Petersburg

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Insurance Placement Commissions: FRS places primary and excess flood insurance programs on behalf of select insurance partners across the United States. As an MGA/coverholder, FRS earns commissions on insurance premiums placed through its platform from 30+ insurer partners including Lloyd's of London, domestic E&S capacity, and various MGAs.
2. Cyber Insurance Placement: Quote and bind cyber insurance with 5 insurers using the single entry multi-rater for small businesses, generating commissions on placed cyber policies.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels4 records

Core offering

Flood Risk Solutions is a Managing General Agent and Lloyd's of London coverholder that places primary and excess flood insurance on behalf of 30+ insurer partners across the United States. The company distributes through a proprietary web-based Flood Rater multi-rater portal canvassing both the private flood market and NFIP, enabling agents and brokers to quote, bind, and pay for flood coverage in real time. It supplements flood placement with parametric solutions, custom risk transfer for large complex accounts, wind deductible buy-downs, cyber protection, and floodproofing referrals.

Product overview

Flood Risk Solutions (FRS) is a tech-enabled Managing General Agent (MGA) operating as a division of Platinum Specialty Underwriters. The company offers a comprehensive suite of flood insurance products distributed through a network of contracted partners. The core platform is the Flood Rater, a proprietary web-based multi-rater portal that canvasses the entire flood market—including private marketplace and NFIP—to deliver real-time quotes that are bindable online. This platform is supplemented by three proprietary private market flood programs and a Complex Risk Division for high-value properties. Product portfolio includes Preferred Risk Policy™ (PRP) for low-to-moderate risk areas, Primary Flood from domestic E&S and Lloyd's markets, Flood Wrap™ for excess flood coverage, and Parametric Solutions for complex risk scenarios. Additional offerings encompass Wind Deductible Buy-Downs, Custom Flood Risk Transfer/Modeling & Analytics for transactions over $500M TIV, Personal & Business Cyber Protection, and Floodproofing products and services through partnership. FRS distributes via API integrations with partner agency management systems and comparative raters like EZ Lynx.

Differentiator

Problem solved

Functional benefit

Brands

• Preferred Risk Policy™ (PRP): Exclusive affordable flood insurance policy for homeowners and renters in low-to-moderate risk areas, with rates starting at $50 per year, designed and underwritten in-house by FRS and backed by an AM Best A XV-rated insurer.
• Flood Wrap™
• Flood Rater
• Parametric Risk
• Cyberman365
• LaTour Risk Solutions

Products and services

• Preferred Risk Policy™ (PRP) Affordable primary flood insurance policy for homeowners and renters in low-to-moderate risk areas, designed and underwritten in-house by FRS and backed by an AM Best A XV-rated insurer, with rates starting at $50 per year.
• Primary Flood Primary flood insurance placements from domestic E&S markets, Lloyd's of London syndicates, and international insurers, offering NFIP replacements with enhancements and blanket limits across multi-location portfolios.
• Flood Wrap™ Excess flood insurance that sits above NFIP, property carrier flood sub-limits, and private market flood placements, offering business income on a drop-down basis.
• Flood Rater Proprietary web-based multi-rater platform canvassing the entire flood market (NFIP and private), delivering real-time bindable quotes for residential and commercial properties including excess flood within 30 seconds and settling transactions in 2 minutes.
• Parametric Solutions Parametric flood and wind insurance structured using triggers such as local river/tide gauges, custom on-site gauges, inundation mapping, satellite imagery, and wind speed, suited to complex risks where traditional indemnity coverage is unavailable or too expensive.
• Wind Deductible Buy-Downs Wind and named storm deductible buy-down solutions using both traditional and parametric insurance, enabling policyholders to remain lender compliant while mitigating high deductibles.
• Custom Flood Risk Transfer / Modeling & Analytics Custom flood risk solutions for large complex transactions exceeding $500M in Total Insured Value, encompassing cat modeling, engineering work, flood mitigation/resiliency, and analytics services.
• Personal & Business Cyber Protection Cyber insurance available via single-entry multi-rater with 5 insurers for small businesses, and personal/family cyber protection (Cyberman365) with up to $1 million in ID theft insurance and restoration support.
• Floodproofing Access to residential and commercial flood mitigation products (flood vents, perimeter barriers, flood barrier panels, flood logs, floodproof glass, passive flood barriers, commercial flood doors and gates, sand-filled systems, flood pumps) via Floodproofing.com partnership.

Quantifiable outcome

• Rates for the entire market within 30 seconds, transaction settlement within 2 minutes
• +3 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Lloyd's of LondoncoreTechnology or IntegrationFRS became a Lloyd's of London coverholder in 2018 and has successfully managed a primary flood insurance delegated authority program since then. Lloyd's provides access to sophisticated reinsurance capacity and international insurers for FRS's flood insurance products.
• Southern Insurance Underwriters (SIU)coreChannel Partner/ Reseller/ DistributorStrategic partnership with Southern Insurance Underwriters, a trusted Managing General Agency (MGA) serving independent agents for over 60 years. This collaboration provides SIU agency partners with direct access to FRS's innovative flood products at competitive commission rates.
• Floodproofing.comminorGTM or Marketing PartnerPartnership with Floodproofing.com to provide FRS agents with access to proven and reliable residential and commercial flood mitigation products and engineering services. End consumers receive discount codes; referring agents receive compensation.
• Platinum Specialty UnderwriterscoreStrategic or Co-development PartnerFlood Risk Solutions is a division of Platinum Specialty Underwriters, providing corporate structure and operational support for FRS's MGA operations and product development.
• XPT Partners, LLCminorOthersPayment processing partner for overnight payment processing. Address: 338 East Montpelier Road, Barre, VT 05641.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• CRC Group: CRC Group is a large wholesale broker and MGA platform with catastrophe-exposed property and flood expertise. Comparable as a broad incumbent in E&S distribution with technology-enabled placement workflows.
• Palomar Holdings: Palomar is a publicly traded specialty insurer that writes earthquake, hurricane, and other catastrophe-exposed lines including private flood through an MGA-style distribution model. Comparable in catastrophe-exposed specialty focus and growing flood franchise.
• Ryan Specialty: Ryan Specialty is a major specialty insurance distributor and MGA platform that operates multiple flood-adjacent facilities. Relevant as a broader incumbent with both wholesale distribution and delegated authority capabilities overlapping FRS's MGA functions.
• Amwins Group: Amwins is one of the largest US wholesale distributors and MGA operators, with significant flood and property E&S capacity. Comparable as a broader incumbent in specialty insurance distribution with flood exposure and carrier-partner model.
• Assurant: Assurant is a diversified specialty insurer and lender-placed insurance provider with significant catastrophe property exposure and lender relationships. Comparable as a broad incumbent with flood and specialty property capabilities serving lenders.

Direct peers

• ICAT: ICAT is a specialty MGA focused on catastrophe-exposed properties including flood, earthquake, and wind. It underwrites flood on behalf of carrier partners using proprietary modeling and offers both admitted and E&S capacity — directly comparable to FRS's MGA model with carrier partnerships and flood specialization.
• Wright National Flood Insurance Services: Wright Flood is one of the largest NFIP Write Your Own (WYO) servicers and also offers private flood solutions to agents and policyholders. It is a direct peer in the agent/broker channel for both NFIP and private flood placement, though operating at a meaningfully larger scale.
• Slide Insurance: Slide Insurance is a Florida-based specialty insurer that has rapidly grown private flood and homeowners offerings, often through agent distribution. It competes head-to-head with FRS for Florida coastal flood risks but is a carrier rather than an MGA.

Emerging players

• Canopy Connect: Canopy is an InsurTech that provides an API-driven insurance data and distribution platform used by carriers, MGAs, and agents. Comparable as an emerging tech platform focused on modernizing specialty insurance distribution workflows.
• Zywave: Zywave provides SaaS and content/marketing tools to insurance agents and brokers, including comparative rating and analytics capabilities. Comparable as an emerging technology provider enabling digital agent workflows in specialty lines.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/floodrisksol
• Facebookfacebook.com/Flood-Risk-Solutions-174047450033200
• LinkedInlinkedin.com/company/floodsol

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flood Risk Solutions