Previsico launches live flood forecasting solution in Ireland
- Written by
Stephanie Hendries- Published
- October 31, 2024
Previsico announces the launch of its live flood forecasting alert service in the Republic of Ireland, to mitigate surface water flood losses for insurers and their customers. This follows major flooding events in recent years, including more frequent and intense weather patterns due to climate change.
Previsico’s flood forecasting technology will be available to all insurers in Ireland, however, the initial focus will be on the water sector. This is due to Previsico’s collaboration with UDLive, which provides environmental monitoring for wastewater, flooding, highways, and more, where both parties will utilise surface water insights to identify potential issues across the country’s water networks.
Jonathan Jackson, Previsico’s CEO, said: “We are thrilled to partner with UDLive, as we launch into the Republic of Ireland, demonstrating how we are bringing our best-in-class flood forecasting and water management solutions to new markets. Through Previsico’s suite of unique products and services, we can help to save people, properties, and businesses from the devastation of flooding by mitigating its impact."
Ireland’s geographical location makes it vulnerable to Atlantic storms, which bring heavy rainfall and storm surges, especially in winter months. This affects not only homes and businesses but also key infrastructure, like roads, bridges, and the water sector.
An estimated 70,000 Irish addresses will be at heightened risk of coastal flooding by 2050 as a result of climate change, according to The Irish Times, with even more properties at risk from surface water or flash flooding, the number one cause of flood damage, worldwide.
Previsico’s forecasting technology, backed by on-the-ground IoT sensors, enables insurers to alert customers of immediate risks to their properties, so they can move valuables to higher ground or set up temporary flood defences in the case of an imminent flood – a win-win for insurers and their customers.
Working with Lloyd’s Lab in London, UK, underwriters agreed Previsico’s warnings can mitigate 70% or more of commercial loss for businesses with a flood plan and resilience measures.
Previsico has already gained great traction worldwide, following 20 years of academic research, and is now supporting insurers such as Liberty, Zurich, Generali, the public sector, major corporate clients, and SMEs, with live actionable flood warnings for surface water flooding to mitigate losses.
Previsico’s world-leading flood forecasting solution brings together the latest weather data from the UK Met Office and US equivalent, IoT devices on the ground, and advanced flood modelling capabilities to address the increasing issue of surface water flooding, worldwide.