Alliance with a UK-based flood risk specialist will give Gamma an edge in the insurance business and the ability predict where floods will occur.
Irish location intelligence player Gamma has forged a partnership with flood risk data specialist Ambiential Risk Analytics in a move that will boost its capabilities in the UK insurance market.
The partnership is part of an overall €2m investment the company is making in its Perilfinder platform.
“The insurance sector in particular is demanding more efficient and effective ways to access data, visualise risks and rapidly analyse accumulations”
“Our partnership with Gamma will provide a host of clients with the ability to unlock insights from our data,” said Rob Carling, channel sales manager at Ambiental Risk Analytics.
The Perilfinder platform will incorporate Ambiential Risk Analytics’ suite of data including FloodMap, FloodScore and FloodFutures datasets to predict climate scenarios and flooding patterns in the UK and Ireland.
Know the score
With these new, highly accurate risk maps – built using high precision LiDAR Terrain – insurance companies will be better equipped to address current challenges; understand how climate change is predicted to impact flood risk in the future; and therefore reduce their risk profiles and better manage policy accumulations with more in-depth insights.
Such information is also useful for the financial sector and mortgage providers, as well as utility companies and local governments.
“The insurance sector in particular is demanding more efficient and effective ways to access data, visualise risks and rapidly analyse accumulations,” explained Richard Garry, chief commercial officer, Gamma.
“We are meeting that need with our Perilfinder platform, in which we have invested €2m to date. By improving this solution and continually establishing new data partnerships, we can deliver the most accurate data available, in light of an ever-changing risk landscape, to our clients.”
Written by John Kennedy (firstname.lastname@example.org)
Published: 27 August, 2020