K2 Insurance Services, an insurance services holding company, has recently publicised its strategic equity investment in Titan Flood.
As part of this partnership, K2 will play a significant role in Titan Flood’s long-term strategic direction, with representation on its board of directors.
Although the precise amount of investment was not disclosed, the key investor in this venture is K2 Insurance Services.
Titan Flood stands out as a newly established Managing General Agent. Their primary focus lies within the Private Residential Flood market. The initiative is helmed by flood industry stalwart, Stephanie Lee, who previously co-founded and held the position of COO at Neptune Flood, a noteworthy provider of private flood insurance programmes in the U.S.
The new funds are expected to bolster Titan Flood’s capabilities and market reach. Particularly, the partnership aims to tap into the burgeoning Private Flood market and offer superior underwriting results.
To ensure an unmatched user experience, Titan Flood chose Solstice Innovations, Inc. as its technology ally. It’s worth noting that Solstice’s CEO, Travis Pine, previously served as CTO at National Flood Services and went on to launch TorrentFlood. Before its acquisition by Marsh USA in 2014, TorrentFlood emerged as the second-largest service and technology provider in its sector.
K2’s CEO and Co-Founder Bob Kimmel expressed his enthusiasm, stating, “We have been following the development of the Private Flood market for some time now. When the opportunity came along to partner with Stephanie to develop a new, best-of-breed MGA, we jumped on it. Our management team has extensive industry experience and a demonstrated track record of growing insurance businesses.”
Furthermore, Titan Flood’s CEO and Founder, Stephanie Lee, added, “We are thrilled to be partnering with K2. With our NextGen solution, we are extremely well-positioned to build Titan Flood into the leading provider of Private Flood insurance solutions for the U.S. We look forward to delivering best-in-class experiences to our customers and partners early next year.”
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