Recent Updates

Recent updates

What’s new at Previsico


Previsico launches new R&D hub in Hong Kong

Previsico launches new R&D hub in Hong Kong

Backed by a grant from Hong Kong Science Park (HKSTP), Previsico has set up an R&D hub to continue improving on our cutting-edge flood forecasting technology The HKSTP grant, designed to attract high tech business with a strong R&D background, provides US$150k over three years. This enabled Previsico to open its Hong Kong office, with the aim of employing five people by the end of the year. The office will be led by Dr. Mingfu Guan, Assistant Professor at The University of Hong Kong. Dr Mingfu Guan is an Assistant Professor in Water and Environmental Engineering at The University of Hong ...
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Previsico selected to represent the best of UK Innovation for first ever ITC + DIA World Tour

Previsico selected to represent the best of UK Innovation for first ever ITC + DIA World Tour

Previsico has been selected by InsTech London to pitch at its UK event on 3 September, with the winner going through to the InsureTech Connect (ITC) Global finals on 21-23 September. This year, ITC, best known for its annual Las Vegas conference that last year attracted over 7,000 people from over 65 countries, is hosting an all-digital “September to Remember” featuring the ITC + DIA World Tour, a virtual journey across the globe showcasing InsurTech innovation. InsTech London is the official ITC + DIA World Tour partner for the UK and was was tasked with sourcing five of the UK’s ...
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Joe and Amelia join Previsico on industrial placements

Joe and Amelia join Previsico on industrial placements

Due to Previsico’s close relationship with Loughborough University, the company seeks to provide internships and placements to the University’s students. This year, placements have been offered to two second year Geography undergraduate students, providing them with an invaluable opportunity to undertake a year in industry as part of their degree programme.  The first placement was offered to Joe, whose role will center around data sourcing and processing for Previsico’s expansion into U.S. markets. He is working alongside Flood Modeller Matthew Farnham, who is offering guidance and aiding his development. We look forward to seeing his skills develop and having him ...
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A look at the August flash floods in Aberdeenshire

A look at the August flash floods in Aberdeenshire

Previsico provides real-time property level flood forecasts and warnings with a 48-hour lead time. Uniquely, these are continuously modelled every three hours using Previsico’s world leading flood nowcasting technology for surface water [‘the biggest flood risk of all’1], in partnership with IBM’s Weather Company. Our forecasts include the depth and time at which flood is predicted at a 25-metre resolution. Previsico’s surface water flood outputs provide actionable forecasts which enable people and organisations, including the UK government, to proactively mitigate surface flood impacts. On 12th of August 2020 persistent hot weather created ideal conditions for intense localised storms across Scotland ...
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Previsico develops new underwriting tool at Lloyd’s Lab to enhance insurers’ flood modelling capabilities

Previsico develops new underwriting tool at Lloyd’s Lab to enhance insurers’ flood modelling capabilities

Previsico announces the launch of a new underwriting tool, developed during our time at the Lloyd’s Lab, to enhance insurers’ flood risk models for both residential and commercial property, and fine art risks. The new underwriter modelling solution was designed with input and analysis from leading re-insurers, who provided mentoring over the course of a ten-week programme at the Lloyd’s Lab, established by Lloyd’s to develop products, platforms and processes to help transform Lloyd’s into a digital data-driven market. Jonathan Jackson, CEO of Previsico, said: “We are delighted to have worked with the Lloyd’s Lab and some of the world’s ...
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Previsico led research warns of the impacts of floods to emergency response times

Previsico led research warns of the impacts of floods to emergency response times

‘Hot 100’ InsurTech Previsico announced the publication of a research paper entitled ‘Flooding impacts emergency response time in England’. The paper reveals that first responders can struggle to reach urgent cases, leading to a cascading increased risk of insured losses. These findings are from an analysis of emergency response times under adverse weather and traffic conditions, conducted by Previsico’s founder Professor Dapeng Yu and Dr Avi Baruch, COO and published this week in Nature Sustainability, the leading international weekly journal of science. Ambulance and Fire & Rescue services are the primary responders for flooding events. Flooding can impact their ability ...
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Jonathan Jackson reflects on how to improve resilience in viewpoint for Insurance Day

Jonathan Jackson reflects on how to improve resilience in viewpoint for Insurance Day

To view the original article visit https://insuranceday.maritimeintelligence.informa.com/ID1130952/Viewpoint-Insurers-are-critical-in-making-the-UK-more-resilient-to-flooding ...
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Previsico receives hat-trick of innovation wards at Morningside Arena

Previsico receives hat-trick of innovation wards at Morningside Arena

Previsico, received awards for Digital Innovation and Technology Innovation, before concluding the evening by being crowned overall champions. The judging panel chose Previsico for Innovator of the Year Award because of the important role it has the potential to play in so many people’s lives, adding: “It seemed apt that in the midst of the current levels of unprecedented rain that have affected so many parts of the UK, the award should go to a business set up to help people prepare for flooding.” Previsico has launched the world’s first property-level surface water forecasting tool to help reduce the devastating ...
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Previsico hosts evening of world experts to discuss how the latest forecasting technologies can build resilience to floods and storms

Previsico hosts evening of world experts to discuss how the latest forecasting technologies can build resilience to floods and storms

Background 2010-19 has been the most expensive decade for natural hazards. With economic losses of $3trillion (up from $1.8trillion the previous decade), and insured losses of $840billion, climate change and flooding are not issues that are going away any time soon. The announcement by The Bank of England (BofE) late last year set out how it will test the balance sheets of the largest UK lenders and insurers, pledging to scrutinise how they would cope with more frequent severe weather events such as floods and subsidence. The event Following this announcement, on 11 February, Previsico hosted an event to help ...
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New forecasting technology can reduce claims costs

New forecasting technology can reduce claims costs

How flood prevention technology can impact claims management Late last year, Boris Johnson discovered the consequences of flooding after he was harangued for his response to flooding in South Yorkshire. These events and the warnings that followed reflected the growing prevalence of flooding driven by climate change and increased urbanisation, neither of which show any sign of abating. Around 5.4mil properties in England are currently at risk of flooding from rivers, the sea and surface water, with annual flood damage costing the country an estimated £1.1bn. Many of these properties, mostly commercial and HNW residential will be protected with the ...
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Registration opens for Previsico's Forecasting for Resilience event 11th Feb

Registration opens for Previsico’s Forecasting for Resilience event 11th Feb

Register now at https://www.eventbrite.co.uk/e/building-resilience-to-floods-and-storms-with-new-forecasting-technologies-tickets-88518303629 and enjoy an evening of talks on the latest forecasting technologies followed by networking, beers and pizza sponsored by IBM About this Event Background The Bank of England, on 18 December, set out how it will test the balance sheets of the largest UK lenders and insurers, pledging to scrutinise how they would cope with more frequent severe weather events such as floods and subsidence. Is your business ready or is there more you can do to meet what the BofE claims to be the toughest climate stress tests in the world? About this event At ...
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Previsico's nationwide forecasts accurately map out flood devastation as COBRA meeting called

Previsico’s nationwide forecasts accurately map out flood devastation as COBRA meeting called

Previsico's nationwide forecasts accurately map out flood devastation as COBRA meeting called As the prime minister chairs a meeting of the government's emergency committee in response to floods in northern England, Previsico work tirelessly to provide actionable nationwide flood alerts. About 400 homes have been flooded and 1,200 properties evacuated. A yellow warning for rain remains in place over parts of Yorkshire and the East Midlands for Tuesday and Thursday. Hundreds of people in Fishlake, near Doncaster, have fled their homes after their village was submerged. Previsico are working tirelessly to deliver our alerts to the Cabinet Office, through the ...
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Previsico launch beta flood visualisation tool

Previsico launch beta flood visualisation tool

Ahead of our upcoming UK-wide launch of FloodMap Live, we are thrilled to be unveiling our new visualisation tool. Building on our prototype developed at Loughborough University in 2018, the new tool allows users to view real-time surface water flood forecast timelines for the next 48 hours. In addition, users can view existing government flood alerts, manage their assets and receive area based alerts. This tool will enable government agencies, businesses, insurance companies and humanitarian organisations to better prepare for flooding all on one platform. To book a demo, please get in tough at https://previsico.com/#contact or email [email protected] ...
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Previsico in Intelligent Insurer HOT list of 100 Insuretechs

Previsico in Intelligent Insurer HOT list of 100 Insuretechs

Following on from the successful pilots of Previsico's flood forecasting technology with the Cabinet Office and its launch into to the insurance industry, Previsico has been listed in Intelligent Insurer #InsurTech Hot 100. The prestigious list includes exciting startups including Lemonade, B3i, FloodFlash and GWT Insight. As the insurance industry’s burgeoning insurtech sector shows no sign of slowing down, Intelligent Insurer have spent months compiling a list of 100 insurtech firms which have the potential to transform the industry—and thus to succeed as companies in their own right. This list was compiled based on the results of a global online survey which prompted our ...
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The face of flood modelling is changing

The face of flood modelling is changing

In his recent article in Insurance Day, our CEO Jonathan Jackson explained how Governments and insurers are increasingly turning to live flood forecasting, as traditional flood models struggle to accommodate the impact of climate change and urbanisation on flood risks.He explains how big data and modern analytical computing power now enable live flood forecasting and the potential damage it can cause to properties at an individual level, which is helping government organisations to reduce loss of life and protect livelihoods, and insurers to tailor products, build customer loyalty and reduce claims more effectively and with greater accuracy. Read the article here ...
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Maddy and Harry both embark on Master's degrees following internships

Maddy and Harry both embark on Master’s degrees following internships

As part of Previsico’ close relationship with the University of Loughborough, internships can be offered to interested students aiming to get valuable work experience in the field of GIS and environmental applications. During July and August, Harry Oldknow, an enthusiastic geography graduate completed a successful internship at Previsico. He worked alongside Dr.Dapeng Yu streamlining processes increasing the efficiency of GIS workflows. His out-of-the-box thinking was crucial in the development of the UK’s first national live surface water forecasting project to be completed mid-October 2019. He is now in Glasgow, where he is pursuing a MSc in Geographical Information Systems, and ...
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Actionable Flood Warnings for Africa at Insurance 3.0

Actionable Flood Warnings for Africa at Insurance 3.0

Last week, our CEO Jonathan Jackson presented at the world's largest one day InsurTech event Insurance 3.0, on the topic of Actionable Flood Warnings in Africa. Flooding is increasingly a global issue, with climate change ensuring that it affects all corners of the world from America to Africa and beyond.   Global problems require global solutions, and whilst it is early days for us at InsurTech Previsco, as a commercial entity, our Actionable Flood Warning solutions are already proven worldwide, including in Africa, thanks to 20 years of academic research. It was the global nature of flooding, including in Africa, that ...
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Previsico make waves at Flood Expo

Previsico make waves at Flood Expo

Previsico exhibited at the world’s leading flood expo and conference at the NEC, Birmingham on 11th and 12th September, where the most innovative companies from all areas of the flooding industry were invited to learn and share ideas. Not only did Previsico host a stand but we also had the privilege of our founder and chief scientific officer, Prof Dapeng Yu, being invited to be a keynote speaker at the event because of his expertise in the field of surface water flooding. Prof. Dapeng Yu spoke about the nature of surface water flood forecasting in relation to the ambiguities introduced ...
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Previsico closes investment round

Previsico closes investment round

Last month, Previsico announced the news that we’ve raised a seed funding round to accelerate our nationwide and international roll-out. You can read the full press release below. A huge thank-you to everyone involved. PRESS RELEASE InsurTech Previsico launches flash flood forecasting solution London, 25th August 2019, Loughborough University InsurTech SpinOut, Previsico, today announced its launch into the insurance sector following its successful seed funding round. Previsico, which specialises in modelling surface water flooding in real-time utilising the latest weather predictions to make property-level flood nowcasts and forecasts, will now be targeting insurers, brokers and big data company partners interested ...
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Matthew Farnham latest to join Previsico as a Flood Modeller

Matthew Farnham latest to join Previsico as a Flood Modeller

We’re excited to announce that Matthew Farnham has joined the Previsico team as the new Flood Modeller. Matthew Farnham, who previously studied Physical Geography at Aberystwyth University and has since gained valuable experience working in the field of GIS and flood modelling for several technology companies including Ambiental and Bluesky. He has joined us just in time for the launch of the UK FloodMap Live product, which we are launching to build on the success our recent pilots with the Cabinet Office. His previous experiences and technical knowledge of the science of environmental processes bring real firepower to the team ...
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FloodMap Live wins commercialisation award

FloodMap Live wins commercialisation award

Previsico's FloodMap Live technology has won the 'Commercial Potential' award at Loughborough University’s bi-annual Enterprise Awards during a ceremony at LUSEP, the University’s Science and Enterprise Park. Drawing on almost 20 years’ research, FloodMap Live uses a combination of innovations to deliver accurate, real-time flood nowcasts and forecasts as well as street-level impact analytics. Leicestershire's Local Resilience Forum, which is chaired by Chief Constable, has been a strong supporter of the innovation since it's inception. Speaking after the award ceremony, Chief Constable Simon Cole QPM said: “This award winning project started with an exploratory chat about flooding in Leicester, Leicestershire ...
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Avinoam to speak at Instech claims innovation event

Avinoam to speak at Instech claims innovation event

Dr Avinoam Baruch will be a speaker at Instech London’s upcoming event: ‘A Review of Claims Innovation In 2019 – Who Is Succeeding And Why?’ on 5th March, 2019. The management of insurance claims continues to be painful for customers - both retail and corporate. Well managed claims can save large amount of costs for an insurance company and help with client retention. Yet this area is still under-served by new technology and ideas. Instech London’s event at 13-16 Allhallows Lane, The Steel Yard / Loose Cannon, London, EC4R 3UL will run from 6:15pm - 8:30pm. Spaces are limited to ...
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FloodMap Live system being piloted with UK Cabinet Office

FloodMap Live system being piloted with UK Cabinet Office

With support of three NERC research grants, development at Loughborough University led to the first live data feed from FloodMap Live being delivered to the Cabinet Office in November 2018. This is currently delivering FloodMap Live for four UK cities – London, Birmingham, Manchester and Leicester within ResilienceDirect. While nationwide flood risk maps are available, emergency responders across the UK urgently require a real time, surface water flood risk mapping service to support decision making during emergencies. The FloodMap Live pilot addresses this challenge by delivering street level surface water flood nowcasts and forecasts to emergency response in real time ...
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Previsico awarded with Innovate UK ICURe Follow-on Fund

Previsico awarded with Innovate UK ICURe Follow-on Fund

Following six months of market discovery and business model development through Innovate UK’s ICURe programme, Previsico was awarded a highly competitive follow-on fund to help take FloodMap Live to market. ICURe which stands for Innovation and Commercialisation of University Research is an Innovate UK programme of commercialisation support for teams of academic researchers wishing to explore the commercial potential of their research. In June, Dr Avinoam Baruch as Entrepreneurial Lead and Dr Dapeng Yu as PI were awarded a place on the prestigious programme and embarked on a global market validation and business model development journey. This culminated in the ...
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