Addresscloud and JBA Risk partner for flood risk management in Europe

Geo-coding and property intelligence expert, Addresscloud, has partnered with flood specialist JBA Risk Management to map the flood risk of over 280 million buildings across mainland Europe.

With this new service, insurers, reinsurers, and brokers will be able to identify in less than a second, the indicated flood risk at a building level across the European continent using nothing more than a single address, Addresscloud explains.

This is achievable thanks to Addresscloud’s platform and proprietary geocoding capabilities which combined with JBA’s detailed insights and high-resolution flood data enables underwriters to identify and assess flood risk for any property in Europe

Demand for better clarity on the risk posed by climate change and the escalation in flooding across Europe is growing among insurers. This partnership was born from this demand, JBA and Addresscloud highlighted.

Mark Varley, Founder and CEO at Addresscloud commented: “We’ve been working closely with JBA for many years and rely on them to provide industry-leading flood data for properties across the UK and Ireland. Increasingly, our customers are asking for broader insights, and need to access consistently accurate information for their risks across Europe.

“JBA and Addresscloud have worked together to develop a unique flood mapping and risk scoring service that spans Europe. We are also actively working on developing our platform to deliver insight on additional perils across Europe and the United States later this year.

Erik Hoeppner, Technical Director from JBA added: “We are delighted to provide our market-leading global flood data to inform Addresscloud’s popular and highly capable risk platform, giving clients more opportunity to access our flood risk intelligence.

“We especially welcome the platform’s capability of assessing risk by linking the analysis to the actual building outline rather than limiting the assessment to a simple location coordinate. This is a further step towards tailoring flood risk insight according to specific property characteristics and enhancing the usefulness of the data.”

The post Addresscloud and JBA Risk partner for flood risk management in Europe appeared first on ReinsuranceNe.ws.

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