Previsico's 2024: Our year in review

During 2024, we saw the Previsico team expand, and we’re now a team of nearly 40 staff members. This expansion is crucial to ensuring we continue to deliver cutting-edge flood risk solutions and support to our customers around the globe. 

2024 has been a year of accolades for Previsico, outlining the impact we are having in both the insurance and technology sectors. 

• In March, Previsico was honoured with the Risk Innovation of the Year award at the Insurance ERM Awards 2024. 
• In June, we were proud to receive the Best Use of Data Analytics award at the Insurance Post’s British Insurance Technology Awards.  
• To round out a year of recognitions, Previsico was ranked 14th in the Deloitte UK Technology Fast 50—a list of the 50 fastest-growing technology companies in the UK. We were also named Regional Winner for the Midlands.  

At Previsico, our commitment to developing the most advanced flood risk management solutions is at the core of everything we do.  

In November, we unveiled Instacasting, our next-generation flood mitigation solution. Instacasting leverages the most accurate observed (not predicted) rainfall data to forecast surface water flood risk. This allows our clients to respond faster and with greater certainty, saving tens of millions in potential losses due to flash flooding.  

In 2024 Previsico’s hosted two unique and successful events: 

• Innovative technologies and how they can reduce flood risk: In May, we partnered with UDlive to host an event at Lloyd’s of London. The event brought together key players from major insurance and water companies across the UK, including Anglian Water, AXA XL, Southern Water, and Descartes Underwriting. The event focused on the latest innovations in flood risk reduction, with presentations from leading experts in the sector. 
• Building flood resilience for insurers by harnessing new data: In November, we hosted another highly successful in-person event, offering a unique networking opportunity for industry professionals to explore how innovative data solutions are transforming flood risk management. Our flood modellers shared insights on how we’re advancing flooding warnings and risk mitigation, while our customer success team provided practical advice on how insurers can leverage these warnings to improve their operations. 

2024 has also been a year of strategic partnerships for Previsico. We have continued to deepen our relationships with key partners, while also forging new collaborations to expand our reach.  

We’ve further developed our partnerships in the insurance space such as with Zurich Municipal and Liberty Specialty Markets, helping both organisations offer our advanced flood forecasting solutions to their commercial customers. These ongoing collaborations support better risk management and flood mitigation strategies across various sectors. 

Previsico is proud to have entered into a commercial partnership with UDlive, a pioneer in IoT technologies and data analytics. This alliance brings together Previsico’s expertise in flood risk management and UDlive’s advanced environmental monitoring solutions, offering unparalleled capabilities to address flood risks globally. 

In December, we announced a partnership with Esri UK, the global leader in geographic information system (GIS) software. This collaboration will allow Previsico’s flood forecasting solutions to be integrated into Esri UK’s broad portfolio of customers, including those in the utilities, transport, housing, and government sectors.  

In addition to these significant milestones, Previsico launched a completely redesigned website earlier this year. This new platform provides a clearer, more user-friendly experience for our customers and partners, making it easier for them to access information on our flood risk solutions and explore how we can help them manage and mitigate flood risks more effectively. 

2024 also saw Previsico expand into the Republic of Ireland, launching our live flood forecasting alert service to help businesses mitigate surface water flood losses. With increasing instances of flooding driven by more frequent and severe weather events, particularly in the water sector, our forecasting technology is poised to make a significant impact. 

Through a partnership with UDLive, Previsico will be helping to manage and monitor water networks across the country, providing surface water insights to identify potential flooding risks and safeguard people, properties, and businesses from the devastating effects of floods. 

As we move into 2025, Previsico is excited about what lies ahead. With continued growth, new product developments, strategic partnerships, and a clear commitment to innovation, we are poised to expand our impact on flood risk management and help organisations around the world reduce the devastating effects of flooding. 

Stay tuned for more updates and developments from Previsico in the coming year!