A Recap of INSTANDA's First Episode of "Under Cover LinkedIn Live"

INSTANDA launched its first ever episode of its LinkedIn Live series, Under Cover on 29th January 2025. INSTANDA hosts Katy Murray and Andy Watts, were joined by Abbe Sultan and Michael Pallas, Co-Founders of Flow Flood Insurance, to discuss the inner workings of insurance innovation. The session offered a glimpse into the lives of these inspiring Co-Founders and clients of INSTANDA, highlighting their efforts to reimagine flood insurance in an era of increasing climate uncertainty.

Here’s a roundup of the engaging conversation and standout insights from the episode.

Reflecting on Disaster Preparedness

The episode started with a very real reminder of the crucial role insurance plays, addressing the ongoing wildfires in California. Michael and Abbe shared their heartfelt connection to the devastating event, drawing from their deep California roots and their professional commitment to mitigating risk through insurance.

Their reflections touched on the emotional and logistical challenges that arise during these disasters, pointing to how flood and fire preparedness tools play a crucial role in long-term recovery in catastrophic events such as these.

"This is where the rubber hits the road," Michael noted, referring to the impact insurance professionals and products have when disaster strikes—providing funding for temporary housing, rebuilding homes, and overall recovery.

[Replay LinkedIn Live Recording]

The Origin of Flow Flood Insurance

Michael and Abbe shared the inspiring story behind Flow Flood Insurance, which started as a pivot from their earlier venture, Stone Creek Agency. Recognising the growing challenges in providing adequate coverage for homeowners during market tightening, they spotted a unique opportunity to specialise in flood insurance.

They honed in on niche insurance products such as flood and earthquake coverage, which were underserved at the time. This specialisation allowed them to refocus their efforts and ultimately launch Flow Flood—a market-leading flood insurance marketplace that simplifies how agents and brokers provide flood coverage.

From Brokering to Innovating

Abbe shared their pivotal moment, explaining, “We felt like we couldn’t effectively do our job as brokers anymore. Options were limited. That’s when we decided to create something better."

This decision led to an innovative platform that acts as a one-stop marketplace for quoting, issuing and managing flood insurance policies—all in one system. Unlike traditional comparative raters, Flow Flood’s solution provides a seamless experience for agents and eliminates much of the inefficiency associated with securing flood coverage.

Scaling for Success

Abbe and Michael also shared exciting milestones since launching Flow Flood. Becoming Lloyd’s of London cover holders marked a major accomplishment, helping validate their vision and unlock growth opportunities. Now, with a well-established foundation, they have expanded into commercial flood insurance, a move fuelled by demand from agents and brokers seeking more robust solutions.

"Our goal has always been to ensure agents have the same incredible support and experience, no matter the product line," Abbe explained.

The team’s commitment to quality has been further bolstered by a strong underwriting team and maintaining a client-focused approach.

[Download Flow Flood Case Study]

The Balance Between Leadership and Life

While insurance innovation dominated the discussion, the conversation also veered into personal passions, adding a human element to Abbe and Michael’s stories.

Abbe spoke about his newfound love for cycling, describing it as a form of meditation, while Michael shared his lifelong connection to soccer and yoga as ways to unplug and recharge. Their candid stories of exploring Patagonia and Turkey showcased the importance of nurturing personal growth while building a thriving business.

"Getting away from the screen is crucial. You cultivate a different kind of community—whether it’s through sports, hobbies, or travel—which brings balance to the work we do," Michael shared.

Wisdom for the Insurance Innovators of Tomorrow

When asked for advice to those entering the insurance industry, Michael and Abbe offered timeless insights.

• Abbe encouraged newcomers to find under-served niches and approach them with efficiency, passion and a tech-forward mindset. "If you wake up nervous, it means you’re doing something great that day," he shared.

• Michael emphasised patience, underscoring that while the insurance industry can be slow-moving, the long-term rewards of innovation are worth it. "It’s still a people business at its heart," he mentions, and that’s what makes it so special.

The Future of Insurance Innovation

INSTANDA’s Under Cover LinkedIn Live ended with a reflection on the role of technology and community in shaping the insurance industry's future. Everyone discussed the opportunities and challenges of AI in the sector, likening its rise to the "green" and "blockchain" movements of years past, although on a completely different scale.

They called for authenticity from the industry, ensuring that innovations like AI deliver on their promises rather than serving as hype.

"AI can amplify the good but there needs to be clarity," Andy observed, emphasising the importance of honest, responsible usage in the field.

A Wrap-Up with Gratitude

INSTANDA’s inaugural Under Cover LinkedIn Live offered an engaging mix of industry insights, personal reflections and practical learnings. By highlighting the entrepreneurial determination, technological innovation, and human side of insurance, the episode captured the essence of what it means to revolutionise the industry.

We can’t wait to tune in for the next episode of Under Cover with more stories of transformation and inspiration in the world of insurance. Next up, Andy and Katy will be joined by Hamilton Fraser’s Managing Director of Insurance, Gerry Barrett on Wednesday February 26, 2025 2.30 pm GMT / 9:30 am EST. It’s another unmissable episode, so sign-up here.

Want to learn how INSTANDA can drive innovation? Discover how our platform and people empower entrepreneurs like Abbe and Michael to build and distribute products faster, smarter and with greater flexibility. Contact us today.