Torrent FAQs

Some common and not so common questions asked about Torrent and its flood solutions.

About Torrent

How long has Torrent been in the industry & what's its track record?
Torrent was founded in 2005, and received its FEMA approval and started servicing clients in 2006. Today Torrent is the second largest flood vendor in the market, and has a 100% client retention rate.
What kind of NFIP experience does the Torrent leadership and staff have?
Torrent's executive management team has over 165 years of combined flood insurance experience, and each of Torrent's staff members has an average of 5 years of NFIP experience. All Torrent underwriters and Customer Care Representatives are ANFI certified or in the process of getting their ANFI certification.
How is the company structured?
Torrent is a wholly owned subsidiary of Marsh LLC, a global leader in insurance broking and risk management. Marsh’s approximately 26,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE:MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and human capital. Marsh & McLennan Companies is also the parent company of Guy Carpenter, a global leader in providing risk and reinsurance intermediary services; Mercer, a global leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a global leader in management consulting.
Is Torrent financially sound?
Torrent has been financially sound since day 1. Torrent has the financial strength and deep industry knowledge and resources it shares with the Marsh & McLennan Companies (NYSE:MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and human capital. The Marsh & McLennan Companies has 55,000 employees worldwide and annual revenue exceeding $12 billion.
What sets Torrent apart from its competitors?
There are many factors to point to, but probably the two most important are 1) Torrent's focus on providing unique and unsurpassed service to its clients; and 2) Torrent's devotion to using proven, flexible, and continuously improved technologies to automate the flood insurance industry.Torrent knows that to operate successful flood programs, each client needs to differentiate its flood business from every other company's flood business through service (since the product and pricing are the same for all). Torrent's adaptable solutions allow clients to operate the way they prefer to, versus forcing them into a standard, cookie-cutter method of providing flood insurance. Torrent also has a deep commitment to continual improvement and reinvestment into technology. As passionate experts and innovators in flood, Torrent team members work systematically to do whatever they can to make selling and servicing flood policies and claims easier and more accurate.


What type of mainframe & processing system is used by Torrent?
The TorrentFlood® system runs entirely on servers, is 100% web-based, 100% real- time, and running in the Cloud. Torrent has no 'mainframe' and we have no 'backend' processing. Printing is done overnight for transactions processed in real-time throughout the day, allowing the most prompt processing and service levels possible for Torrent clients.
Can Torrent handle any size book of business?
Torrent currently services clients of all sizes, from under $1 million in premium to over $200 million in premium. Being Cloud based, Torrent's system is easily and highly scalable, allowing an increase in processing capacity in a matter of minutes. Because the Torrent system has highly automated many processes and transactions, far fewer client staff are required to process policies and claims, when compared to other vendors and systems.
What is Torrent's 'Intuitive Compliance' feature?
With Torrent's "intuitive compliance" technology, the flood application is going through the underwriting process with every question or entry that is made. A very low error rate is experienced by the agent and the company, saving time and also improving the confidence in the agent to utilize the process for flood quoting and issuance.
How does Torrent's 'Dynamic Application' feature enhance the flood application process?
With Torrent, only the questions that are relative to the specific address that is being rated are asked. This improves the speed and effectiveness of the application and policy issue completion.

Results & Impact

When WYO companies switch to Torrent, what expectations can they have of their agents?
All Torrent clients have experienced above average growth of their books of business. Torrent's Intuitive Compliance makes writing flood insurance easy. Couple that with Torrent's outstanding customer service and backend support, and agents will discover that writing flood insurance is far less complicated than it used to be.
Super Storm Sandy was the last major catastrophe to take place since Katrina. How did Torrent clients perform with regard to claims handling?
In both Sandy and Hurricane Irene, policies underwritten and issued by Torrent clients enjoyed a policy reformation rate of less that 3%. (Reformation is the process of re-underwriting and reissuing a policy so that it properly reflects the risk being insured, which is necessary before the claim can be paid.) The industry average for both events was in excess of 50%. All Torrent-processed Sandy claims were 80% closed within 60 days of initial notice, far higher than the industry average. Efficient claims handling is key to customer satisfaction, and Torrent strives to deliver the absolute best service levels possible.
How was Torrent able to achieve such high results?
Torrent leveraged technology with the claims component. All flood adjusting companies utilized by Torrent and their clients are electronically integrated with the Torrent system. In fact, Torrent has several examination firms under contract so in the event of a catastrophic event such as Sandy, claims examination capacities can be instantly and exponentially expanded by as much as 300% to meet increased demand. By sharing claims information in real-time, remote users are able to examine and process claims as though they were in the Torrent home office. Companies and their agents can monitor claims performance real-time, all the time, from their local PC. Simply put, with Torrent, data flows more rapidly and accurately to offer the fastest claims processing rates in the industry.

Want to know more? Contact Torrent