New technology to provide more accurate flood risk pricing
Chubb Insurance has adopted a new system for predicting the potential severity of flood risk to individual properties.
The new system is powered by cloud computing and uses a combination of high resolution maps, provided by Intermap, and flood modelling software from flood risk analysts Ambiental, which allows prediction of flood depths and extents to a greater degree of accuracy than was previously available.
It will also utilise Chubb’s in-house geospatial mapping and risk location aggregation tool, and will enable the insurer to examine flood risk at square meter level.
Government funding of flood defence
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