In response to industry demand, geocoding and property intelligence firm Addresscloud has partnered with flood risk science specialist JBA Risk Management to provide insurers with a clear picture of the flood risk in Europe.
The collaboration between the two UK companies intends to map the flood risk for more than 280 million properties throughout mainland Europe. By integrating Addresscloud’s technology with JBA’s flood data, the goal is to allow (re)insurers and brokers to swiftly pinpoint the flood risk at a building level using just an address.
“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,” said Addresscloud founder and chief executive Mark Varley (pictured), whose camp developed and powers Flood Re’s Property Data Hub.
“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.”
For JBA technical director Erik Hoeppner, the tie-up represents another step towards tailoring flood risk insight based on specific property characteristics and enhancing data usefulness.
“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,” he commented.
“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.”
Set up in 2015, Addresscloud provides a cloud-based API (application programming interface) geocoding and intelligence platform, while JBA specialises in flood maps, models, analytics, and consultancy services.
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