Insurance
Support those insured
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- Provide actionable flood email warnings
- Support mitigation activities: advising on flood resilience measures, e.g. setting up defences
- Improve climate resilience
- Click here to read more about our email warning service
Improve claims management
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- Mobilise claims operations
- Fast track genuine claims
- Secure supply chains ahead of claims surges
- Click here to read more about our flood dashboard
Actuarial and underwriting support
- Generate loss estimates to support financial planning
- Implement moratoriums on new policies
- Provide boards with up-to-date information about the expected size of losses
- Allocate appropriate resources to rapidly settle claims and support customers
- Click here to read more about our API
As part of Previsico’s participation in the Lloyd’s Lab, a framework was developed to support underwriters in improving their loss ratios by taking consideration of the ‘preventability’ of flood losses when insureds are provided with Previsico’s actionable flood warnings. This report outlines the performance of Previsico’s forecasts showing a 96% coverage of observed flooding.