How a large US insurer has strengthened flood resilience measures with Previsico’s sensor solutions
Previsico are working with large US insurer who specialise in commercial property insurance. Their risk management solutions help to protect businesses on a global scale.
Background
Previsico are working with large US insurer who specialise in commercial property insurance. Their risk management solutions help to protect businesses on a global scale.
The problem
This large US insurer has two key offices on the East Coast of the US. Both sites have a history of surface water and river flooding (pluvial and fluvial). The company has historically actively managed risks through surface water attenuation ponds and the use of flood defences, including demountable flood walls/barriers. However, due to increasingly severe rainfall, the attenuation ponds were becoming overwhelmed, causing flooding at the sites. This meant they lacked the insights from advanced warnings to support their flood plan implementation and response.
Until recently we relied upon weather forecasts and visual observations of the river level and surface water retention ponds. However, with Previsico’s technology suite we are now able to enable to install low-cost water level sensors at strategic points on our sites to monitor instantaneous water levels. These provide alerts to cell phones to warn of these rising water levels.
Solution
The company started to work with Previsico to evaluate if monitoring rising water levels with Previsico’s sensors would give sufficient advanced warning to deploy flood defences and other resilience measures to prevent flood loss. It was agreed that sensors would be placed at both locations to provide warnings about rising water levels.
Within a few days of installation, there was a flood. The warnings received from Previsico meant the company was able to take action and successfully protect their assets.
Operational benefits
This large US insurer has further strengthened their flood resilience with the introduction of early warnings. This was achieved by:
- A risk assessment was conducted by Previsico on the two locations to identify where the sensors would need to be located. This was followed by a site survey and subsequently sensors were deployed.
- Collaboratively, thresholds were agreed to warn of rising water levels that would provide the company with sufficient time to take action.
Results achieved
- Revenue & asset protection: Protects infrastructure, stock, and equipment from water-related damage and provides balance sheet protection.
- Employee & customer welfare: Minimises the chance of flood-related accidents and disruption for employees and customers.
- Increased resilience: Provides timely information on surface water flood risk to prepare and take action and mitigate impacts and losses.
- Improved business continuity: Previsico’s early surface water flood warnings are linked to the businesses continuity plan, to ensure minimal business interruption.