March 18 / Press Release
Torrent Technologies Deepens Vertical Expertise; Adds Two Top FEMA Executives to Leadership Team
Torrent Technologies announced today that it has named Ed Pasterick to its Board of Directors. Mr. Pasterick recently retired from FEMA after a 41-year tenure with the National Flood Insurance Program (NFIP) where he filled a number of key leadership roles, including acting Administrator for the Program. This news comes on the heels of another NFIP veteran, Jeffrey Woodward, joining Torrent’s executive management team in January to spearhead the company’s newest initiative, FloodAssure®, a groundbreaking product focused on helping lenders manage their flood compliance risk.
“Torrent has served the NFIP well and has developed a number of forward-thinking initiatives that hold great potential for the Program,” said Pasterick. “One of my priorities during my years with the NFIP was identifying ways to improve and advance the Program and I trust I will be able to provide some insights to further Torrent’s efforts.”
Woodward is equally enthusiastic about joining Torrent and advancing its FloodAssure initiative. “Following the financial crisis, regulators are emphasizing compliance with lending regulations. In my tenure with the NFIP I had the opportunity to work with banking regulators, trying to find ways to make it easier for lenders to comply with the Flood Insurance Act(s). Torrent has developed leading edge ideas in how to automate this process.”
The Torrent leadership team already possesses much more NFIP experience than any other service provider in the industry, with over 165 years of combined experience. Pasterick adds another 41 years to that already unprecedented number in a niche industry where minute details matter greatly.
“I remember meeting Ed Pasterick in Montana nearly 13 years ago,” commented Travis Pine, Torrent’s cofounder and Chairman. “Since then, I have come to realize that he not only has an unparalleled historical context of the NFIP, but is a creative problem solver with fresh ideas on how we, as an industry, can improve the Program going forward. I’m both honored and excited to have the opportunity to work closely with Ed and Jeff in the coming years, pairing their deep domain knowledge with the efficacy of our leading technology platform, TorrentFlood®, to address the material challenges facing the NFIP.”
Attracting these two top FEMA officials to Torrent’s leadership team validates Torrent’s long-term commitment to the NFIP, and underscores the importance of Torrent’s vision for the future of the Program. “It’s remarkable that Torrent is coming up on its 10-year anniversary, noted Pine. ”While we are by no means the oldest service provider, we have certainly combined the industry’s best insurance technology platform with the top minds from the flood industry. The addition of Mr. Pasterick and Mr. Woodward will only help us to further our focused mission: Leveraging technology to continue to innovate this market while remaining vigilant in helping to make flood insurance easier and more affordable for the consumer.”