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High flood risk addresses identified using OS Places

Discover and manage high flood risk properties, using OS Places from Ordnance Survey.

The challenge

Figures from the Environment Agency reveal that up to 357,000 households in the UK are at high risk of flooding.

In 2015 ther will be a change in how insurance companies will manage buildings insurance for flood-prone homes.

Flood Re will address the availability and affordability of insurance for those households at high flood risk.

However, flood-risk properties in council tax band H and homes built after 2008 are not be protected by Flood Re.

If the mortgagee of a band H property or a home built after 2008 doesn’t have adequate insurance and their house suffers a major flood, they may breach their terms and conditions and could possibly default on the mortgage as they cover the cost of repairs. This could lead to problems with their lender and potentially affect their credit rating.

Mortgage lenders and insurance companies need to clarify which properties are high-risk and ascertain exactly what cover is needed and work with customers to help manage their own flood risk.

The solution

OS Places provides the best, most accurate address data available.

It gives insight into a wide range of an address attributes, including unique property reference number (UPRN) geographic coordinates, usage (commercial or residential), and residence lifecycle (historic, pre-build, etc.).

The UPRN within OS Places is used in data as a match key by Flood Re to insurance organisations to help manage the scheme.

Insurers can cross-refer existing policy data with the data file supplied from Flood Re, which covers council tax bandings and properties built after 2009. Insurers can be quickly decided which insurance policies and therefore homes are high-risk to see if extra cover is needed.

Lenders can identify potentially high flood risk customers and advise them on obtaining adequate buildings insurance and taking measures to protect their home from flooding.

The benefits

  • Insurers can quickly and efficiently match addresses within their existing systems and the Flood Re scheme.
  • Lenders are able to reduce the risk of the mortgagee defaulting on ppayments should their home be flooded.
  • Customers addresses can be verified and matched with the latest OS dataset in real time, enabling business decisions upon the most comprehensive address database in the country.
  • Improvements to the quality of existing address data.
  • OS hosts and maintains AddressBase® Premium in the cloud, removing the need to manage and maintain the data. It integrates easily into customer facing or back office systems to help power business systems.

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