Real-time risk analysis tool launched at flood risk event
Europa Technologies has launched a map-based risk assessment platform at a flood risk event supported by Insurance Times, the ABI and the National Flood Forum.
The platform, known as Risk Insight, combines a range of perils data.
It will offer insurers high-precision, address-level risk analysis in real time using perils data from providers such as the Environment Agency, British Geological Survey, the Met Office and JBA Risk Management.
Risk Insight is implemented as SaaS (Software as a Service) and incorporates definitive address data and base maps from Ordnance Survey.
The service is designed to assess risk across a portfolio and can be integrated with existing systems.
Europa Technologies business development manager Duncan Hill said: “We have seen a growth in the volume of enquiries from insurance companies in the past few years. Risk Insight brings together our existing expertise to provide a comprehensive solution to the challenge of calculating risk in an accurate and timely manner. We look forward to helping our clients conquer this challenge in the future.”