NormanMax Insurance Solutions
NormanMax provides trigger-based parametric insurance for hurricanes, earthquakes, floods, and severe convective storms, with no deductibles and no field adjusters. Underwritten by certain underwriters at Lloyd's Syndicate 3939, the world's first exclusively no-deductible parametric syndicate, policies pay out rapidly once objective triggers like wind speed, Richter magnitude, or IoT water-depth readings are verified. The company offers insurance, reinsurance, and embedded coverage distributed through brokers, carriers, MGAs, and real-estate platforms.
- Insurance Technology
- Internet of Things
- Hardware
Funding
Founders
Founder details are not available yet.
Product
Problem
Traditional indemnity insurance relies on loss assessment by field adjusters, creating long delays, costly negotiations, and deductibles that leave policyholders with significant out-of-pocket exposure. For hurricane, earthquake, and flood risks, standard policies often exclude the hardest-to-place perils or make recovery slow and uncertain, leaving businesses and homeowners financially vulnerable to natural catastrophes.
Solution
NormanMax Insurance provides trigger-based parametric coverage for hurricanes, earthquakes, floods, and severe convective storms, with no deductibles and no field adjusters. Policies pay out rapidly once a pre-agreed objective trigger is verified, using data such as wind speed, barometric pressure, Richter magnitude, or in-situ IoT water-depth readings. The coverage is underwritten by certain underwriters at Lloyd's Syndicate NMX 3939, the world's first dedicated no-deductible parametric syndicate, and can be structured as insurance, reinsurance, or embedded coverage. The full-stack group includes a parent holding company, the Lloyd's syndicate managed by Apollo, and a proprietary MGA, enabling tailored programs for complex risks.
Target Audience
Primary customers are brokers, carriers, reinsurers, MGAs, and real-estate platforms seeking parametric protection for coastal properties, business interruption gaps, and multi-location franchise networks, as well as homeowners and businesses facing otherwise hard-to-place flood, hurricane, and earthquake risks.
Features
- Parametric trigger mechanisms based on objective metrics: wind speed and barometric pressure for hurricane/typhoon, Richter/MMI scale for earthquake, and water-depth sensors for flood
- No-deductible structure available on every policy, with limited exclusions compared to traditional coverage
- Rapid payout process: once a trigger is validated and confirmation of loss is completed, payment is issued without site visits or negotiations
- Embedded parametric module allowing carriers, brokers, MGAs, and real-estate platforms to white-label or co-brand trigger-based coverage within existing products
- FloodFlash IoT sensor network providing millimeter-accurate, real-time water-depth measurement at each insured property, triggering payments only on verified in-situ conditions
- Coverage available globally: 75+ country insurance licenses (including all 50 US states) and 200+ territories for reinsurance
- Bespoke underwriting for complex placements such as deductible buydowns, business interruption gaps, and multi-location franchise portfolios