Hiscox, a specialist insurer, has released a new flood threat app which uses augmented reality to show the risks of damage.
FloodPlus AR allows people to see how predicted sea level rises could affect Greenville, a suburb of Jersey City in the US, through a virtual topographical map.
Rising sea levels mean residents in costal towns could be at increased risk of flooding. According to a study from Hiscox found that 8.8% of properties in Hudson County, in which Jersey City lies, could be flooded if global sea levels rise by as much as predicted by experts, which is around 2.4m by the end of the century.
Around 36% of these are not in a National Flood Insurance Program-designated Special Flood Hazard Area, which means they are not mandated to buy flood insurance, which Hiscox believes makes them unaware of the future risk.
Hiscox London Market flood line underwriter Dan Alpay said, “Rising sea levels represent a global threat, with the scientific consensus being that more communities and lives will soon be at risk from flooding. As a leading US flood insurer, it is important to highlight the issue, which this app does neatly using the innovative technology that underpins our FloodPlus product.
“It is essential that coastal communities’ climate resilience is increased. But for those discussions and preparations to begin, the scale of the threat needs to be better understood. We hope that our new app will help that discussion.”
Last month, AXA XL completed a strategic deal with digital flood insurance programme administrator Neptune Flood to help more consumers access this type of insurance.
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