Geo-coding and property intelligence experts Addresscloud have partnered with Ambiental to bring advanced climate change data to the insurer market.
As the global climate undergoes accelerated changes, the importance of accurate risk reporting continues to grow. Ambiental estimates an additional 1.2million properties across the UK could be at risk of flooding by 2050, something that insurers need to be modelling for right now.
Ambiental’s high-resolution flood data and climate risk models integrate seamlessly into Addresscloud’s existing perils platform to help 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 commented: “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.”
Rob Carling, Channel Sales Manager at Ambiental added;
“We are excited to partner with Addresscloud. Insurers increasingly want to work with providers who can facilitate access to detailed, accurate data but in a way that is straightforward to understand and utilise efficiently. Through working together we are placing our advanced, predictive flood risk analytics directly into the hands of our clients.
Climate change and the risk of flooding
Climate change will impact the Balearics, as the five islands are at increasing risk of permanent loss of land. It is expected to cause widespread ecological and economic impacts, especially in the urban and densely populated areas of the islands. Additionally, climate change could increase the intensity of waves and storm surges, causing severe economic impact and the loss of tourist areas.
The loss of tourist recreational services represents a GDP loss up to 7.2% with respect to the 2019 GDP. Up to 65% of the beach area in the Balearic Islands will be permanently lost due to the climate crisis. During storms conditions, up to 80% of beaches could be lost.
Contact Rob Carling for more information.
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