Previsico has unveiled its innovative live flood forecasting service in the Republic of Ireland.
This strategic deployment aims to bolster insurers and their customers against the increasing threats of surface water flooding, catalyzed by more frequent and severe weather conditions linked to climate change.
Focusing initially on the water sector due to its collaboration with UDLive—an entity specializing in environmental monitoring—the service will employ sophisticated surface water insights to pinpoint and address potential disruptions across Ireland’s water networks.
Previsico CEO Jonathan Jackson expressed enthusiasm about the venture, stating, “We are thrilled to partner with UDLive, as we launch into the Republic of Ireland, demonstrating how we are bringing our best-in-class flood forecasting and water management solutions to new markets. Through Previsico’s suite of unique products and services, we can help to save people, properties, and businesses from the devastation of flooding by mitigating its impact.”
Ireland’s geographic position subjects it to frequent Atlantic storms, which exacerbate the risks of heavy rainfall and storm surges, particularly during the winter months. Such conditions threaten not just residential and commercial properties but also critical infrastructure, including transportation networks and utilities.
Projections by The Irish Times indicate that by 2050, approximately 70,000 Irish addresses will face increased coastal flooding risks due to climate change, with an even larger number vulnerable to surface water and flash floods—the leading causes of flood damage globally.
Previsico’s advanced technology integrates on-the-ground IoT sensors, enabling insurers to proactively alert customers about imminent risks. This facilitates timely protective actions, like relocating valuables and erecting temporary flood barriers, significantly reducing potential damages.
The effectiveness of Previsico’s alerts in mitigating commercial losses by over 70% for businesses with flood preparedness plans has been affirmed by underwriters at Lloyd’s Lab in London.
Since its inception at Loughborough University in 2019, Previsico has been at the forefront of flood management technology. It leverages extensive research and innovative approaches such as hyperlocal forecasts and live sensor data to anticipate and mitigate the impacts of floods effectively. Utilized worldwide by top insurers like Zurich, Liberty, and Generali, as well as government agencies, Previsico’s tools are crucial in managing global flood risks.
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