Flood and climate risk specialist Ambiental Risk Analytics has announced new versions of its flood and climate data products to cover Spain – delivering unparalleled insights for insurers, banks, lenders and other exposed industries.
A company of Royal HaskoningDHV, Ambiental’s products answer an urgent need for higher quality, higher granularity flood data, combined with insights into climate-induced risks.
“As the risk of flooding increases and the impact of flood events becomes more severe, organisations need new ways to see and manage their risks,” commented Justin Butler, Ph.D., Founder and CEO of Ambiental Risk Analytics.
“That’s why we’re investing heavily in research and development to help our customers understand their exposure to flooding and climate change.”
Flood damage in Spain is on the increase, as changing patterns of precipitation affect the size and frequency of extreme pluvial (rainfall-driven) flood events. Rising global sea levels and increased storm activity are also affecting the severity of coastal flooding.
The newly-launched products will help organisations quantify this changing risk in several complementary ways:
Flexible flood risk scoring and data
Designed for underwriting and pricing flood risks, Ambiental FloodScore™ provides flood risk scores and information at an individual property level.
Meanwhile, FloodMap™ provides the highest-granularity flood data in the market, allowing large area searches, risk visualisation and metadata investigations. It is most commonly used by corporate insurers, reinsurers, governments and utility companies.
Climate risk: data-driven 80-year predictions
Climate change means that flood losses in Europe are expected to increase fivefold by 2050, according to the European Environment Agency. Projections show that the frequency of floods in Spain is likely to rise due to increases in heavy rainfall creating additional localised flooding, with rising sea levels threatening coastal communities.
FloodScore Climate™ is a unique product allowing flood projections up to 80 years into the future, based on different climate change scenarios. It is already being used for stress testing and ESG compliance in the financial sector, as well as long term financing, asset management, property investment and insurance risk underwriting.
Other European countries to follow
The Spanish version of the products marks Ambiental’s first full release in Mainland Europe, with 10 more countries to follow in 2021.
“We are excited to be bringing to the Spanish market the latest, best-in-class flood and climate analytics,” added Erik Driehuis, Software Director, Royal HaskoningDHV Digital.
“With Ambiental joining Royal HaskoningDHV Digital, we can rapidly grow our offering of the best flood data and climate intelligence to our customers, wherever they need it. This greatly contributes to Royal HaskoningDHV’s world-leading position in data, engineering, and consulting to deliver the safe, resilient environments of tomorrow.”
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