Innovate UK, the UK’s national innovation agency, is funding innovative solutions that integrate climate and environmental factors into financial services through its SBRI – Climate and Environmental Risk Analytics for Resilient Finance competition.
Previsico was proud to receive Phase 1 funding (Physical Risk theme) and our Dr Andrew Pledger went along to present preliminary results and project progress to-date at the UK Centre for Greening Finance and Investment (CGFI). CGFI is supporting Innovate UK and successful applicants to deliver the next generation of green finance analytics through expert advice and connecting applicants with potential users to shape the development of these innovative solutions early on.
Previsico’s project will develop a loss estimation algorithm parameterised using it’s world-leading forecast-/nowcast-derived flood extent and depth data and asset exposure and vulnerability data to produce financial risk forecasts and nowcasts.
We were amongst some high calibre peers in the Physical Risk category (this category aligns itself as building resilience to climate and other shocks being essential to sustainable development globally.)
If anyone is interested to find out more about the project or anyone interested in real-time flood loss predictions please do get in touch.