Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Vertafore and StoneRiver National Flood Services Make Selling Flood Insurance Easier Through Exclusive Partnership
  • USA - English


News provided by

Vertafore, Inc.

Mar 05, 2014, 17:00 ET

Share this article

Share toX

Share this article

Share toX

Bothell, WA (PRWEB) March 05, 2014 -- Vertafore, the leading provider of software that transforms the business of insurance, today announced a strategic partnership with StoneRiver National Flood Services (NFS) creating an easier way for independent agents to quote and cross-sell flood insurance to clients when quoting and selling homeowner insurance. The partnership integrates NFS’ flood quoting platforms with Vertafore’s PL Rating to provide a flood insurance quote solution that is easy to understand and use.

From 2003 to 2012, total flood insurance claims averaged nearly $4 billion per year*. However, most homeowner insurance policies do not cover floods. Those requiring flood protection must purchase an additional policy either in the private flood market or, far more commonly, through the FEMA National Flood Insurance Program (NFIP), which has approximately 5.5 million policies in force. Few homeowners fully understand their true level of risk and too often they are not presented with a flood insurance quote. In fact, fewer than 10 percent of homeowners carry flood insurance. The low penetration of flood insurance not only leaves many unprotected, but insurance agencies are also at risk of E&O exposure when not offering coverage.

“Most homeowners can get a flood insurance policy for under $400 a year, and yet a six inch high flood in a 2,000 sq. ft. house could easily cost a homeowner $40,000 if they are uninsured,” said Keith Brown, CEO of NFS. “Considering that 90 percent of all disasters include flooding, it is imperative that agents provide homeowners a risk assessment and all insurance options.”

This integration between Vertafore and NFS makes selling flood insurance for Vertafore’s 20,000 agent users simpler by providing a premium indication and personalized flood proposal on all homeowner insurance quotes. It also enables the agent to easily complete a flood policy with their carriers represented by NFS without rekeying information since the data to produce a flood quote was already captured in the homeowner workflow of PL Rating. The personalized proposal will include the home’s estimated risk of flood, potential losses from flood, a premium indication and a waiver of responsibility.

Brown added, “The flood insurance market is greatly underpenetrated. Obviously natural disasters like Hurricane Sandy, but also unexpected events like the recent Colorado floods, can strike without warning and leave homeowners in dire situations, and unfortunately for too many, uninsured when it comes time to rebuild. Presenting flood quotes returned in Vertafore PL Rating will give agents an easy way of ensuring their clients are protected and their agents earn additional commission. It’s the perfect selling opportunity for flood insurance.”

With exclusive relationships with over two-thirds of the carriers that write flood insurance, NFS is the leader in providing technology solutions to flood insurers participating in the NFIP. Vertafore PL Rating provides over 1.5 million homeowner insurance quotes annually and also has relationships with many of the same carriers NFS does business with through Vertafore PL Rating. This synergy provides additional time savings and efficiencies for agencies already working with carriers that sell flood insurance where agents had not yet approached them regarding this market opportunity.

“By connecting Vertafore’s comparative rating distribution with the flood quoting functionality of NFS, agents and carriers that use NFS as their processing partner will benefit from an easier and quicker way to grow their flood insurance business. At the same time ensuring their customers get the coverage they need,” said Dave Acker, Vice President, Strategic Market Development for Vertafore. “Our partnership with NFS delivers another competitive advantage to our customers that helps them sell more insurance efficiently and effectively while reinforcing their relationship with their customers as a trusted advisor.”

The solution will be available in Q2 2014.

Be sure to follow Vertafore on twitter.com/vertafore and facebook.com/vertafore.

More information about the NFIP can be found here - http://www.fema.gov/national-flood-insurance-program.

*All stats listed in the release are courtesy of the FEMA NFIP.*

About Vertafore
Vertafore enables insurance agencies and carriers to grow their business and provide exceptional customer service through proven technology. With the largest install base in the industry, Vertafore delivers an immediate competitive advantage across the insurance market with leading-edge innovation built on tomorrow’s advanced cloud, mobile, and information technology platforms. For more information about Vertafore, please visit http://www.vertafore.com.

About StoneRiver National Flood Services
StoneRiver National Flood Services (NFS), the leader in flood insurance processing, is based in Kalispell, Montana with service centers in Overland Park, Kansas, St. Petersburg, Coral Springs and Lakeland, Florida. NFS offers its property and casualty insurance company clients full-service solutions for their insurance processing needs; from policy and claims administration to web-based agency solutions and superior customer service and marketing support. Founded in 1985, NFS continuously improves services through new technology, fundamental practices, and innovation. Most recently, NFS released FloodTools.com, an interactive website providing free personalized flood risk analysis for both the general public and organizations who utilize these resources as part of their industry. For more information on NFS, visit http://nfs.stoneriver.com/.

Contacts:
Kellen Davison, Vertafore
(425) 260-6561
Kdavison(at)vertafore(dot)com    

Steve Harty, NFS
914-462-1699
Steve.harty(at)nfs.stoneriver(dot)com

© 2014 Vertafore Inc., Vertafore and other trademarks are trademarks of Vertafore and its subsidiaries. All rights reserved.

Kellen Davison, Vertafore, Inc., http://www.vertafore.com, +1 (425) 260-6561, [email protected]

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.