This is clever stuff; link the flood mapping data to the new regulations on reporting and carbon/emissions use etc.
As the COP26 summit closes, property data specialists WhenFresh have announced a major extension to their climate change offering by making Ambiental’s FloodScore™ Climate dataset available via its award-winning API.
Ambiental’s FloodScore™ Climate not only enables the (re)insurance and banking sector to respond to the Bank of England’s regulatory requirements, but also to future proof their business. It does this by providing individual property-level flood risk scores, both for the present
day and the 2050s and 2080s, based on low, medium, and high emission scenarios as defined by UKCP18 (the UK Climate Projections). The move follows the integration of Ambiental’s FloodScore™ back in February, where each UK property is given a measure of the likelihood and severity of a flood hazard affecting it from fluvial, pluvial, and tidal sources.
The FloodScore™ Climate data provides the means for insurersto assess current and future flood risk data for more accurate analysis of risk within existing portfolios, enabling them to meet regulatory obligations as well as their commercial needsfor the future.
Rob Carling, Ambiental’s Channel Sales Manager, said: “We are pleased to extend our partnership with WhenFresh by adding our FloodScore™ Climate dataset to their highly regarded API.
“The demand from the financial sector for accurate data has increased significantly over the last few years,” he added. “We expect this trend to continue following the Bank of England’s strategic focus on climate change risks, and new legislation coming into force from April 2022 that makesit mandatory for firms to disclose climate-related financial risks and opportunities.”
Mark Cunningham, co-founder and CEO of WhenFresh, commented: “It’s a great step forward for us to have Ambiental’s FloodScore™ Climate data alongside the ever-growing stable of property attribute, risk, peril, environmental, geospatial, topological, and valuation
datasets we make available through the WhenFresh API. Our aim has always been to make best-in-class datasets such as this easily accessible to end users to remove the barriers to digital transformation – and we’re seeing a solid increase in the use of climate and environmental data among insurers, banks, and other big data users, not least for regulatory reasons.”