Wright Flood has acquired Poulton Associates LLC for an undisclosed amount. Poulton Associates, known for its digital catastrophe insurance marketplace CATcoverage.com, administers the Natural Catastrophe Insurance Program (NCIP). The company provides insurance producers with efficient access to private Flood, Earthquake, and Landslide insurance solutions across the United States. This corporate acquisition is a strategic move, not a funding round.
Poulton Associates' CATcoverage.com is an internet-based, private insurance facility and online marketplace, serving as a one-stop catastrophe coverage solution for producers. The platform enables insurance agents and brokers to quickly quote and issue flood and earthquake coverage by shopping multiple carriers for competitive pricing and innovative options. It offers an API for seamless integration, allowing instant generation of NCIP flood and earthquake quotes for insurance professionals, mortgage, and real estate experts. Its technology leverages advanced risk modeling, elevation data, and virtual inspection tools to deliver fast, accurate quotes.
The acquisition significantly enhances Wright Flood's capabilities and market reach, particularly in the growing private flood insurance sector. Poulton Associates' robust digital platform and established producer network offer Wright Flood an immediate expansion of its digital footprint and distribution channels. The integration of the NCIP, a trusted alternative to the NFIP with broader coverage, provides a diversified product portfolio and advanced system for processing catastrophe insurance. This strategic move combines Wright Flood's market presence with Poulton Associates' innovative technology and agent-centric marketplace.
Expected synergies include leveraging Poulton Associates' agile technology and API capabilities to streamline operations and enhance service offerings for producer networks. The combined entity is poised to offer a more comprehensive and efficient suite of flood and catastrophe insurance products, improving accessibility and choice for policyholders. This integration is anticipated to strengthen Wright Flood's position in catastrophe insurance, fostering innovation in policy delivery and expanding its competitive advantage through advanced digital solutions and a broader array of private insurance options. The combined operations aim to deliver expanded market offerings.