The new initiative gives Verisk customers seamless access to Ambiental’s high-detail, property-level flood data and insights for the UK and Ireland
Verisk (Nasdaq: VRSK), a leading global data analytics provider, is adding flood data and insights from flood risk assessment specialist Ambiental Risk Analytics, a company of Royal HaskoningDHV, to its existing underwriting capabilities in the United Kingdom and Ireland. Ambiental’s FloodScore predictive data and analytics will be available to Verisk customers through two convenient ways: via a flat file, through Verisk’s geospatial tool Location Matters™, or its API-driven Data Insight Hub, an ever-evolving source of insurance datasets and analytics accessible at any part of the customer journey.
The additional datasets that Verisk has made available are from Ambiental’s FloodScore product suite which provides property-level flood risk scores and information for all addressable properties in the UK and Ireland. Beyond this initiative, the two companies are jointly looking to provide similar data and solutions to the wider European financial services market through the integration of Ambiental’s market-leading European flood data into Verisk’s general insurance underwriting analytics and software. FloodScore uses Ambiental’s advanced risk indexing algorithms and integrates the most complete and up-to-date flood and building stock data available across the UK and Europe.
Rob Carling, Channel Sales Manager, Ambiental, said: “I’m delighted that Ambiental is supporting Verisk and its customers with their physical peril risk data to enhance risk selection, reduce claims costs and enable a more sophisticated underwriting strategy.
Alex Croydon, Managing Director of General Insurance for UK and Ireland, Verisk, added: “With changing weather patterns in the UK, Ireland and Europe, insurance markets will need relevant and accurate underwriting tools that can keep up with this evolving landscape. We are committed to continually expanding and increasing the detailed views and insights we offer customers, so it’s exciting to add Ambiental’s data to our broad range of flood and perils data. There is a clear demand for accurate and granular flood data among insurers, so this new offering, alongside the numerous other data enrichments, are great additions within Verisk’s Data Insight Hub and Location Matters.”
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