Geo-coding and property intelligence provider Addresscloud has partnered with provider of flood and climate risk data Ambiental Risk Analytics, to bring advanced climate change data to the insurance market.
Addresscloud said that as the global climate undergoes accelerated changes, the importance of accurate risk reporting continues to grow. Ambiental estimates an additional 1.2 million properties across the UK could be at risk of flooding by 2050, something that insurers need to be modelling for right now.
Ambiental said its high-resolution flood data and climate risk models integrate seamlessly into Addresscloud’s existing perils platform, this helps insurer clients to better understand and mitigate potential financial losses or other negative consequences of the rapidly changing climate on their Europe-wide portfolios.
Mark Varley, founder and CEO at Addresscloud, said, “I am proud to be making Ambiental’s market-leading data available to our insurance customers across Europe. Insurers must begin to take a longer-term view of their risk profile, using advanced predictive flood risk analytics, overlaid with climate change data to understand their exposure over the coming years.”
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