Case Study: Midwest Commercial Insurance Company eliminates reinsurance costs with GaugeFlood from Athenium Analytics

GaugeFlood Save Reinsurance Costs with Accurate Risk Scoring

Commercial Insurance Company, a trusted carrier offering commercial insurance across 13 Midwestern states, was using outdated flood risk scores that led to poor underwriting decisions — it excluded several high-risk properties and maintained reinsurance on $4M of its $5M flood limit. The carrier collected $1.4M in annual premium but still paid $42,000 (3% of premium) to reinsurers, so it turned to Athenium Analytics and its GaugeFlood flood risk assessment solution.

Athenium Analytics’ GaugeFlood provided cloud-based, 10-meter-resolution overlays (including FEMA zones) and actionable scores for river, flash and storm-surge risk, letting the insurer clearly visualize and reassess exposures. With that improved intelligence the carrier revised exclusion/inclusion lists, eliminated reinsurance on the $4M limit — saving $42,000 almost overnight — and now writes, renews and reinsures properties with greater confidence.