Background

Flood Re is the UK Government-backed reinsurer created to improve the affordability and availability of flood insurance for households in high-risk areas. Flood Re sought an authoritative, data-driven narrative that would:

• Validate the scheme’s effectiveness in reducing premiums and broadening coverage.
• Showcase Flood Re’s thought leadership and industry expertise.
• Provide clear, comparable metrics to inform strategic decisions.

Consumer Intelligence partnered with Flood Re to deliver rigorous benchmarking data and competitive analysis, drawing on our deep expertise in insurance pricing, customer outcomes and market standards.

The Challenge

Before the launch of Flood Re, only fragmented data sources and anecdotal evidence were available for Flood Re to assess flood risk affordability. There was no source of consistent, time-series data to demonstrate:

• Affordability improvements: how premiums had shifted for customers in high-risk postcodes.
• Availability gains: the extent to which coverage had expanded.
• Market alignment: how the scheme compares to international best practices and pricing.

Outcomes & Impact

By working with Consumer Intelligence, who created a bespoke flood-risk data set and have used it to measure quote availability and prices from prior to the scheme’s existence until the present day, Flood Re has been able to assess the affect that the scheme’s operation had on the market, and whether quantitative and verifiable measurements continue to show these intended effects.