Nasdaq brings our updated Australia FloodCat™ Model and suite of other flood data products to their Risk Modelling service
We are pleased to announce the release of our new flood model on Nasdaq Risk Modelling service. With the new model available to Nasdaq Risk Modelling service customers, insurers can improve their understanding of flood risk within their portfolios. Australia FloodCat™ Version 2 provides exceptional levels of detail for understanding fluvial flood across the entire landmass of Australia. It is built as part of a product stack underpinned by high precision flood hazard maps (Ambiental FloodMap™) and a property level risk receptor database (Ambiental FloodScore™), enabling consistency in risk outcomes across the products and detailed understanding of risk drivers.
Over 80% of risk outcomes in Australia FloodCat™ Version 2 are derived from LiDAR Digital Terrain Models by using the latest inputs of hydrology and extensive topography data. The new model includes the latest address data and is one of the first models to include building outlines for insurers to precisely understand flood hazard intensities.
Paul Drury, Product Manager at Ambiental said:
“We are excited to see our enhanced Australia FloodCat™ model available through the Nasdaq Risk Modelling service. We continue to work alongside other organisations with a shared commitment to driving quality enhancements and innovation across the insurance industry. We look forward to launching more products through this channel in the near future”.
Australia FloodCat™ offers insurers precise and comprehensive data to support decision making around hazard risk modelling, as well as improved capital allocation, strengthened underwriting strategies and optimised reinsurance. The new Australia FloodCat™ includes additional core benefits such as:
- Greater predictive accuracy than previous models
- Updated and improved exposure data, ensuring the model keeps pace with land-use changes
- Heightened accuracy in property-level risk identification with building outlines data
Matt Jones, Head of Catastrophe Risk Products at Nasdaq said: “Ambiental’s Australia FloodCat™ Version 2 has been improved and allows insurers to enhance their view of Australian flood risk. This is a great addition to our risk modelling service for catastrophes, and we look forward to our continued collaboration in the insurance space.”
Read more on the Nasdaq website about how Ambiental Risk Analytics is mastering environmental risk data for protection against Australian flood events by following this link.
Ambiental is committed to supporting all stages of disaster risk management to ensure global resiliency by providing access to data and systems that deliver actionable intelligence. The integration of Ambiental models into Nasdaq Risk Modelling service represents an important step on that journey.
Get in touch
Please contact Rob Carling, Channel Sales Manager if you want to know more about the Australia FloodCat™ Model or other Ambiental products.
Call me on +44 (0)203 857 8543 or email [email protected]
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