Flood risk specialist Ambiental has extended its partnership with property data firm WhenFresh to offer the former’s FloodScore Climate data set on WhenFresh’s API.
According to Ambiental, its FloodScore Climate solution not only enables the reinsurance and banking sector to respond to the Bank of England’s regulatory requirements but also to future proof their business. It achieves this, the firm claims, by providing individual property-level flood risk scores – both for present day and the 2050s and 2080s – based on low, medium and high emissions scenarios as defined by UK Climate Projections.
The FloodScore climate data also provides the means for insurers to scrutinise current and future flood risk data for a more accurate examination of risk within existing portfolios, allowing them to be compliant with regulatory obligations as well as meeting their commercial needs for the future.
The two companies established their relationship earlier this year after FloodScore was integrated into WhenFresh’s API.
Ambiental channel sales manager Rob Carling said, “We are pleased to extend our partnership with WhenFresh by adding our FloodScore Climate dataset to their highly regarded API.The demand from the financial sector for accurate data has increased significantly over the last few years. We expect this trend to continue following the Bank of England’s strategic focus on climate change risks, and new legislation coming into force from April 2022 that makes it mandatory for firms to disclose climate-related financial risks and opportunities.”
WhenFresh co-founder and CEO Mark Cunningham added, “It’s a great step forward for us to have Ambiental’s FloodScore Climate data alongside the ever-growing stable of property attribute, risk, peril, environmental, geospatial, topological, and valuation datasets we make available through the WhenFresh API.
“Our aim has always been to make best-in-class datasets such as this easily accessible to end users to remove the barriers to digital transformation – and we’re seeing a solid increase in the use of climate and environment.”
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