What are the responsibilities and job description for the Strategy Consultant (Flood Insurance) position at Connecticut Innovations?
Are you ready to join Connecticut Innovation’s vibrant community of innovators? Connecticut Innovations (“CI”) is Connecticut’s strategic venture capital arm, and we are passionate about serving our portfolio of 220 companies across various industries, with strengths in life sciences, technology, and climate tech.
Come join Minimise the impact of flooding using actionable early warnings | Previsico as a Strategy Consultant!
Context
The Issue: One-fourth of all properties and one-third of commercial properties in the UK are at risk of flooding. Flood-related damages cost the UK a staggering £1.3 billion annually and are expected to increase five-fold by 2050. According to latest estimates these costs can be reduced by half with improved flood forecasting and preparation. However, existing forecasting methods have fallen short when it comes to the unpredictable nature of storms. Hourly shifts in weather patterns can give rise to floods that escape detection through conventional means.
The Solution: At Previsico, our goal is to diminish the impact of floods on individuals and organizations by half. Our cutting-edge tech, honed since 2001 and incubated at Loughborough University, until 2019, has revolutionized flood forecasting. It allows for highly accurate, property level, real-time alerting, empowering individuals and businesses to prepare effectively, thereby minimizing, and in some cases, preventing damage and disruptions.
The Results: We almost doubled our revenues in 2024, and our services are now supporting over 200 clients within the insurance, private, and utilities sectors, including Zurich, Liberty, and National Grid. In 2024, we secured additional funding earmarked to turbocharge our growth through the expansion of our Go-To-Market function.
Consulting Role
Previsico aims to undertake a consultancy project to identify and prioritize the US insurance segments most likely to adopt or promote hyper-local flood forecasting and sensor-based early warnings for large asset owners (utilities, infrastructure, real estate, construction, municipalities and hospitality) . Building on our experience in the UK, where partnerships with leading insurers and brokers have proven critical in scaling distribution and market access, this work will determine how best to replicate that model in the US market.
Our work to date has shown that insurers can play a pivotal role in driving adoption by embedding flood resilience into their client offerings and risk management programs.
The project will validate what we have learned so far about insurer engagement, identify where meaningful competition exists, and explore alternative points of entry into large assets owners through brokers, MGAs, captives, and other intermediaries.
Focus Areas
- Carrier Engagement - identify key carriers and underwriters with a strategic interest in active flood risk mitigation rather than traditional loss coverage. Assess appetite for resilience solutions across underwriting, risk management, and claims functions.
- Ecosystem Positioning - determine which parts of the insurance value chain offer the most effective access for Previsico, including MGAs, brokers, reinsurers, captives, insurers, and claims organisations.
- Market Pathways - assess where broker-led, captive-driven, or reinsurer-supported approaches are most viable for distribution and funding of resilience solutions.
Key Deliverables
- A prioritized go-to-market plan centered on the most influential ecosystem segments, with particular focus on broker-led distribution and captive integration.
- A detailed mapping of the insurance ecosystem, including: carriers, MGAs, and reinsurers with active flood mitigation or resilience agendas, key captive managers, fronting carriers, and claims organizations with an appetite for resilience, and decision-makers and influencers within underwriting, risk management, and claims
- Segment-specific value propositions tailored to each target group.
- A proposed job profile and remit for Previsico’s first US sales role, aligned with the identified market entry strategy.
Equal Opportunity Employer
Previsico is an equal opportunity employer. All employment decisions are based on qualifications, merit, and business needs, without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, disability, or age.