NormanMax Insurance Holdings

Name

NormanMax Insurance Holdings

Legal name

NormanMax Insurance Holdings, Inc.

Website

https://normanmax.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Parametric Insurance

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Flood Insurance (FSAJACAG)

Keywords

• Parametric insurance
• Parametric reinsurance
• Embedded parametric solutions
• Catastrophe insurance
• No-deductible coverage

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Direct Insurance Premiums: No-deductible parametric insurance coverage for commercial and residential property clients. Coverage for hurricane, earthquake, and flood perils with rapid trigger-based payouts. Premiums collected through brokers or direct placement.
2. Reinsurance Capacity: Quota share, facultative per-risk, and embedded white-label reinsurance provided to insurers and reinsurers. NormanMax provides 100% reinsurance of carrier participation or Syndicate 3939 capacity.
3. Embedded/White-Label Solutions: No-deductible parametric layer embedded within existing insurance products of carriers and brokers. Distributed via MGA platforms, broker programs, or carrier embedding. NormanMax provides capacity, trigger framework, and Lloyd's security.

Go-to-market motion2 records

Distribution channels6 records

Marketing channels4 records

Core offering

NormanMax Insurance Holdings provides no-deductible parametric insurance, parametric reinsurance, and embedded parametric solutions for hurricane, typhoon, earthquake, flood, and severe convective storm perils. Coverage is underwritten by Lloyd's Syndicate NMX 3939 (managed by Apollo Syndicate Management) and distributed through its MGA NormanMax Insurance Solutions and the acquired FloodFlash platform with proprietary IoT sensor technology. Payouts are triggered by predefined events (wind speed, barometric pressure, seismic magnitude, or sensor-verified flood depth) rather than loss adjustment.

Product overview

NormanMax Insurance Holdings is a vertically integrated parametric (re)insurance group operating through three interconnected entities: NormanMax Insurance Solutions (full-service MGA offering direct no-deductible coverage for hurricane, earthquake, and flood), Lloyd's Syndicate NMX 3939 (the world's first dedicated no-deductible parametric syndicate at Lloyd's providing $20M per risk capacity managed by Apollo Syndicate Management), and FloodFlash (acquired in 2025, providing proprietary IoT sensor-enabled flood coverage). The group distributes via three channels: direct insurance, reinsurance (quota share, facultative, and embedded white-label), and embedded parametric solutions integrated into existing insurance platforms. Coverage spans hurricane, typhoon, earthquake, flood, and severe convective storm perils across 200+ territories.

Differentiator

Problem solved

Functional benefit

Brands

• FloodFlash: Sensor-enabled parametric flood coverage with IoT sensor technology. Acquired by NormanMax in 2025.

Products and services

• Lloyd's Syndicate NMX 3939 The world's first dedicated no-deductible parametric syndicate at Lloyd's, managed by Apollo Syndicate Management. Provides $20M capacity per risk per occurrence across hurricane, typhoon, earthquake, flood, and severe convective storm perils through direct insurance, reinsurance, and embedded white-label channels, with AM Best A+ and S&P AA- financial backing.
• NormanMax Insurance Solutions (MGA) Full-service MGA providing no-deductible parametric insurance for hurricane, earthquake, and flood risks. Offers direct coverage underwritten by Lloyd's Syndicate 3939 with global licensing across 75+ countries (including all 50 US states).
• FloodFlash Sensor-enabled parametric flood coverage powered by proprietary IoT sensor technology. Sensors installed at insured properties measure actual water depth at millimeter accuracy, triggering rapid claim validation and payout. Operates as a coverholder with IoT sensor network across UK and US markets.
• Hurricane & Typhoon Parametric Cover No-deductible parametric hurricane and typhoon coverage triggered by wind speed and barometric pressure. Offers rapid post-storm payout, insurance and reinsurance layers, and global coverage from the Gulf Coast to Asia-Pacific.
• Earthquake Parametric Cover Magnitude and intensity-based parametric earthquake cover using Richter scale/MMI triggers, no deductible structure, limited exclusions, and business interruption cover. Designed for the hardest-to-place earthquake risks.
• Flood Parametric Cover (FloodFlash IoT) Sensor-enabled parametric flood coverage powered by FloodFlash IoT sensors installed at insured properties. Triggers on verified in-situ water depth at millimeter resolution (not modeled data), enabling accurate and rapid payouts; available as NFIP excess and standalone coverage.
• Embedded No-Deductible Cover Trigger-based no-deductible coverage integrated within existing insurance products or platforms. Enables carriers, brokers, MGAs, mortgage lenders, and real-estate platforms to offer no-deductible protection as a built-in feature through white-label or co-branded arrangements, with NormanMax providing capacity, trigger framework, and Lloyd's security.
• Parametric Reinsurance Capacity No-deductible NatCat reinsurance capacity provided to insurers and reinsurers via Syndicate 3939, available as quota share (proportional premium and loss participation), facultative per-risk or per-program placements, and embedded white-label structures across 200+ territories.
• Residential Parametric Hurricane Cover No-deductible parametric hurricane coverage extended to the residential market segment, offered through Syndicate 3939 capacity.

Quantifiable outcome

• Rapid claims processing - 48-hour approval and 28-day completion for flood claims
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• GallaghercoreChannel Partner/ Reseller/ Distributor · 1 June 2026Insurance broker Gallagher launched a new parametric flood insurance product for golf courses in partnership with FloodFlash (a NormanMax company). The product offers up to $10 million in flood coverage per course with customizable trigger depths and rapid claims processing including 48-hour approval and 28-day completion timelines. FloodFlash installs sensors around courses to measure water levels at millimeter resolution.
• London UnderwriterscoreChannel Partner/ Reseller/ Distributor · 29 January 2025London Underwriters, a wholesale insurance broker, partnered with NormanMax Insurance Solutions to expand access to commercial insurance products and launch specialized parametric and excess/surplus lines solutions. The partnership enables agents to access NormanMax parametric insurance solutions online.
• Apollo Syndicate ManagementcoreStrategic or Co-development Partner · 1 January 2024Apollo Syndicate Management serves as the managing agent for Lloyd's Syndicate NMX 3939. They provide active oversight and regulatory framework under Lloyd's, with Active Underwriter Stuart Newcombe ACII bringing 30+ years of trigger-based underwriting experience.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Kin Insurance: Kin is an emerging InsurTech focused on catastrophe-exposed homeowners, particularly in Florida. Comparable coastal property exposure and tech-enabled distribution, though using traditional indemnity rather than parametric structures.

Direct peers

• Arbol: Arbol is a direct parametric insurance peer offering weather and climate parametric coverage to commercial clients using index-based triggers. Comparable product architecture and customer base to NormanMax's parametric NatCat offerings.
• FloodFlash: FloodFlash was the closest direct peer in sensor-enabled parametric flood insurance prior to being acquired by NormanMax in May 2025. Listed here to anchor the direct peer set; effectively now a subsidiary.
• Elementum Ventures: Elementum is a direct parametric NatCat reinsurance peer specializing in earthquake, tropical cyclone, and severe weather trigger-based risk transfer. Closely comparable peril coverage and trigger-based architecture.
• Demex Group: Demex is a direct parametric reinsurance peer building climate peril transfer solutions with trigger-based structures. Closely comparable business model targeting reinsurers and insurers seeking clean parametric exposure transfer.

Others

• Howden Group: Howden is a global insurance intermediary with a dedicated no-deductible solutions practice (previously led by NormanMax CRO Nick Griffiths). Distribution-side peer and likely embedded channel partner for NormanMax.

Broad incumbents

• Munich Re: Munich Re is a broad incumbent global reinsurer that ran the Lloyd's Innovation Syndicate 1840 (previously led by NormanMax's Active Underwriter). Overlapping NatCat underwriting and parametric innovation capabilities.
• Swiss Re: Swiss Re is a broad incumbent global reinsurer with a substantial parametric and ILS franchise, comparable NatCat peril exposure management, and similar B2B reinsurance / structured solutions customer base.

Regional players

• Heritage Insurance Holdings: Heritage Insurance is a regional Florida and catastrophe-exposed property carrier with overlap to NormanMax CEO and CFO alumni networks. Comparable homeowners and commercial property exposure in NatCat-heavy geographies.
• Universal Property & Casualty Insurance Company: Universal P&C is a Florida homeowners carrier previously led by NormanMax CEO Bradley Meier. Comparable coastal property exposure and customer demographic, though using traditional indemnity rather than parametric.

Market position

Strengths5 records

Weaknesses1 record

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/61575066222412
• LinkedInlinkedin.com/company/normanmax-insurance-solutions-main

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 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 NormanMax Insurance Holdings