Previsico and Mitigrate partner to connect flood forecasting with flood prevention

The partnership pairs Previsico's real-time, location-specific flood forecasts with Mitigrate's property-level prevention recommendations. Together, they cover the full flood-risk cycle, from anticipating an event to limiting the damage.

Knowing a flood is coming is only half the job

A forecast tells an insurer that water is on its way. What happens to the property afterwards depends on what was done to prepare it.

Flood losses continue to rise, and insurers need more than awareness of the risk. They need to know which properties will be hit, when, and which measures will make the biggest difference to the loss. That is the gap this partnership is designed to close.

How the partnership works

Each company covers one half of the flood-risk cycle:

• Forecasting, from Previsico: real-time, hyperlocal surface water flood forecasts and alerts, giving insurers and policyholders location-specific warnings.
• Prevention, from Mitigrate: identification of high-risk properties, with specific, costed recommendations for measures that reduce expected losses. Mitigrate's platform covers more than 50 million buildings across the Nordics, the UK, France and Germany.

The partnership will serve insurers and risk managers across the UK, the Nordics and the rest of Europe.

“Our clients use Previsico to know where and when flooding will hit. Mitigrate gives them the next step: which properties to protect and which measures will reduce the loss. Working together means insurers can move from warning to action,” says Victor Nekhay, Insurance Lead at Previsico.

What it means for insurers

Combining forecasting with property-level prevention supports insurers at three points in the policy cycle:

• Underwriting: pricing flood risk more accurately and keeping more risk insurable.
• Risk engineering: directing surveys and prevention advice towards the properties with the greatest loss potential.
• Claims: acting before and after events, including build-back-better measures that reduce repeat losses.