The risk assessment solution will utilise high-definition data and proprietary Model Convergence technology. Credit: Markus Distelrath from Pixabay.

Skyward has entered into a partnership with reThought to develop proprietary flood risk assessment technology.

The new solutions will utilise high-definition data and proprietary Model Convergence technology.

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The coverage will be available for a broad range of classes through a select group of partner distributors.

The primary and excess limit will be capped at $20m per risk and $100m for replacement values available.

Skyward CEO Andrew Robinson commented: “Skyward Specialty continues to take bold steps to leverage advanced technologies to provide innovative and hard-to-match solutions that our clients and distributors need.

“Through our partnership with reThought, we can provide our brokers and commercial property owners with a market-leading risk transfer solution for their flood exposures.”

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reThought CEO Cory Isaacson said: “We have the most advanced data and technology solution to understand, price, and deliver insurance products for commercial flood risk – we are now at an inflection point to serve this market at a time when the need is greatest and existing insurance options are insufficient.

“I know that together we are unmatched in the commercial flood market and our distribution partners and their customers will benefit as a result.”

Skyward specialises in commercial property along with integration of advanced technology with data for better risk selection and loss management.

reThought uses proprietary underwriting methodology and risk assessment technology to visualise, assess, underwrite, and price commercial flood coverage for complex risks.