Cypress Property & Casualty Insurance Company, a provider of an array of insurance products to clients in Florida and Texas, has selected Taurus Flood to become their flood insurance service provider as they are a new participant in the National Flood Insurance Program’s (NFIP) Write-Your-Own (WYO) program.
The NFIP’s WYO program allows property insurance companies to provide FEMA backed NFIP flood insurance under their company to property owners, renters, and businesses to help reduce the devastating financial impact of floods, the nation’s most common and costly natural disaster.
Through this agreement, Cypress will be providing their more than 1,700 agents with access to the Taurus Flood Odyssey platform to begin writing new flood insurance policies with Cypress on January 2nd, 2024.
Michael Weis, Special Programs Director at Cypress Property & Casualty, said: “We are excited to partner with Taurus Flood as our flood service provider for entry into the National Flood Insurance Program as a Write Your Own carrier.
“Taurus Flood’s best-in-class quoting technology provides Cypress agents with an intuitive solution that will allow them to efficiently serve their customers’ flood insurance needs.”
Lindsey Erickson, CEO of Taurus Flood, commented: “We are very excited to be selected for the critical role of supporting Cypress with the ability to offer their agents and policyholders NFIP flood insurance from Cypress Property & Casualty.
“By focusing on property owners and their needs, Cypress and Taurus Flood are committed to closing the insurance gap and protecting policyholders from the damaging impact of flooding.”
As part of its services, Taurus Flood will facilitate quoting, policy and claims administration services, agency services, and other tools for Cypress agents and policyholders, as well as financial and statistical reporting to Cypress and the NFIP.
Taurus Flood’s cloud-based and industry leading platform, Odyssey, provides a single, powerful platform that combines insurance quoting, policy issuance, claims handling, accounting, reporting, and product management and servicing.
“Odyssey is the latest end-to-end insurance platform developed for both the Flood and P&C Industry, its cutting edge technology and microservice architecture allow us to deliver value quickly and provide ongoing innovation for our clients,” Cynthia DiVincenti, Vice President of Client Relations at Taurus Flood, explained.
“Floods are the most common natural disaster world-wide, and in the United States they result in more loss of life and property damage than any other. Flood insurance can help property owners prepare for the potentially devastating financial impact of a flood. Taurus Flood is ready with our Odyssey platform, services, and tools to help Cypress agents secure this needed insurance for their customers.”
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.