Torrent Technologies Signs Rural Community Insurance Company for Flood Program
“We were excited to learn of RCIC’s desire to enter the WYO Program and even more pleased that they selected Torrent after a thorough diligence and extensive RFP process.” commented
TorrentFlood(R) has been designed to seamlessly integrate the underlying RCIC flood platform directly with the Wells Fargo Special Risks excess program to provide automated excess flood insurance quotes whenever the replacement cost of the property to be insured exceeds the standard underlying policy limits available through the NFIP – a unique, distinguishing benefit of the RCIS offering.
Using the TorrentFlood(R) platform, the producer and more importantly, the company itself, is more flood compliant. Exposure is mitigated as the system has been designed to accurately identify the risk, provide insurance options for both primary NFIP and excess flood, and the corresponding documentation to record the transaction. The producers can then quote flood protection, regardless of flood zone or amount, and allow the customer to decide if they want to purchase the coverage. The file is documented with a copy of the purchased policy or a copy of the insured’s acknowledgement that coverage is not desired at that time. This simple process ensures proof that coverage was explained and offered eliminating confusion at time of an uncovered flood loss.
RCIC is one of a growing list of WYO Companies that have selected Torrent’s flagship product, TorrentFlood(R), for their flood insurance processing needs. TorrentFlood(R) is the most robust and advanced flood processing system on the market today. Since launching TorrentFlood(R) in early 2007, Torrent has signed 15 clients – including RCIC, and expects their rapid rate of growth to continue in the years ahead.
About Torrent Technologies
Torrent Technologies is a business services company that leverages contemporary technology to more effectively administer flood insurance policies and claims through the National Flood Insurance Program. Torrent was founded in
SOURCE Torrent Technologies, Inc.