9Dec - Jan - 2018field helping clients recover and file their claims. Moreover, as the number of millennial homeowners and business owners increases, these "digital natives" will expect technology that streamlines the application and approval process. In fact, most will naturally navigate toward insurers and agents that offer the most user-friendly and efficient options, which will provide a competitive market advantage to early adopters of the technology.In addition to aiding in gaining a larger share of the current flood market, companies that investin this technology help to expand the market itself. How? By making thecomplex flood rating process much more user-friendly for the agent and streamlining the information gathering process to match the underwriting needs of the carrier--whether they are applying for a policy under the National Flood Insurance Program (NFIP), or for private flood insurance. In other words, an easier process directly relates to more offers of flood insurance being made, and ultimately, more coverage issued to customers across the United States.Text "FLOOD" for Speedy Recovery:Expediting Claims after Natural DisastersAs anyone who experienced the hurricanes in Texas, Florida, Puerto Rico or the U.S. Virgin Islands will attest, theheightened anxiety anticipating a natural disaster transforms into a set of immediate prioritiesas people scramble to assess the damage and start the recovery process. A loss of electrical power and internet access can stymie recovery efforts, including timely filing of flood insurance claims. But companies that offer agents and clients a range of communication options post-storm will increase the likelihood that essential information for initiating claims will get through. Take texting, for example. Although calling loved ones over cellular networks right after a major storm can be challenging, text messages are more likely to get through. Flood insurers that connect clients with agents via text messaging can jump-start the claims filing process. Clients will appreciate being able to check the status of a claim via text ­ particularly during prolonged power outages ­ and claims submitted early using mobile technology are more likely to be paid expeditiously. Our claimants at Wright Flood have embraced texting technology that allows them to initiate a claim, connect with an adjuster, and follow their claim through to the end. They have become equally comfortable withmobile applications like ImageKeeper, which in the cases where we are able to deploy it enablepolicy holders and adjusters to submit images viatheir smart phones, further streamlining claims processing.Reality Check: VR and Simulation Promises a Brighter Future for the IndustryAs a veteran of the flood insurance industry, I understand the challenges of expanding flood insurance coverage into areas outside of higher risk coastline and low-lying regions. But I have also witnessed how innovative technologies and the understanding they deliver can help property ownerssee the potential disaster more vividly, comprehend their flood risk and take measures to protect against it.Virtual reality and simulation technology can more easily model various potential outcomes from flood events associated with a natural disaster. Experts can then use the models to increase the accuracy of their risk assessments and update them over time as natural conditions shift due to climate change and other factors. Additionally, during hurricanes Harvey and Irma, augmented reality simulations were used by news agencies and weather reporting services to show the destructive forces that storm surge and heavy flooding can have on homes and communities both in flood zones and outside of them. As more homeowners are able to visualize the effects of flooding on their homes, fewer may be willing to roll the dice and forego coverage. The value technology provides and will continue to offer into the future should not be underestimated. The bottom line is, expanded technology in flood insurance equalsmore informed and equipped owners, a larger pool of insured properties and easier financial recovery from natural disasters. Clients will appreciate being able to check the status of a claim via text ­ particularly during prolonged power outages
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