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Improve your flood risk modelling

With the Flood Re scheme now in full scale development preparing for launch in April 2016, the development of your own flood model has never been so important.

Combine our location intelligence with flood risk data from third parties to analyse flood risk areas and identify over 25% more properties which you may have overlooked as being too high a risk to underwrite.

This video explains how our data is used to underwrite insurance policies.

Key issues in flood risk modelling

  • Increasing frequency of major loss flooding events - The ABI calculated that the insurance industry paid out approximately £3 billion in insurance claims during the ‘Great Autumn Floods’ of 2007 and a further £174 million following the 2009 Cumbrian flooding.
  • Greater need to be able to accurately model flood risks within your own property portfolio to maintain your competitive advantage.
  • Need to replace the reliance on postcode banding with individual property underwriting
  • Investment in flood defences reducing, whilst homeowners not seeing the importance of resilience and protecting their own properties from flooding.

The solution

Our location intelligence can enable you to:

  • Accurately locate properties within any given postcode area that are on raised ground and away from the threat of flood water; sell policies competitively that previously thought to be deemed to be too high a risk to cover.
  • Reveal the potential impacts of different types of risks and perils using scenario modelling to improve contingency planning for commercial customers.
  • Build a thorough understanding of accumulated risk within given locations or areas to identify hotspots and trends.
  • Immediately know your exposure to a peril during a disaster level event
  • Prewarn customers at risk of flooding before a loss takes place by matching our location intelligence with third party weather forecast data.

Business benefits

  • Better management of risk exposure when underwriting at individual address level rather than postcode banding.
  • Accurate pricing of policies - 26.7% increase in the amount of properties correctly identified in the flood risk zone compared to postcode banding.
  • Increase profitable revenue by underwriting more low risk properties
  • Improved event modelling and loss predictions.
  • Enhanced acquisition of profitable business through targeted cross and up selling marketing campaigns, reducing overheads.
  • Quicker and more accurate calculations of exposure to a peril/event to reassure shareholders.

View our location intelligence products, download free sample data or use OS OpenData™ products.

Contact us for more information

Related products

AddressBase products are an essential source of detailed location intelligence for both business and government.

A detailed, street-level, backdrop map that you can customise, OS VectorMap Local is ideal when you need a map tailored to your project or web applications.

OS Terrain 5 adds value by explicitly modelling significant features such as roads, railways, quarries and lakes.

Contact us

Get in touch for more information about how our data can help your business.

Relevant case studies

Allianz explains how OS data helped in improving business efficiencies.

Aviva shares how Ordnance Survey mapping data is improving underwriting commercial property insurance policies.

Geospatial tools allow underwriters to access geographic risk data giving them an instant and unique picture of each risk, at an individual address level using Ordnance Survey mapping and addressing data.

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