Insurtech and Airmic partner Previsico has partnered with Watertight International to enhance its services to corporates and insurers in flood risk mitigation and resilience.
Previsico provides real-time, street-level surface water flood forecasts to mitigate flood impacts globally, including live actionable street-level flood nowcast and forecast warnings. Watertight is a solutions provider in designing, sourcing, installing and maintaining property flood resilience solutions, such as flood barriers. Their approach follows the UK Govt.’s Property Flood Resilience (PFR) industry Code of Practice, supported by insurers across the industry, including Flood Re, Aviva, Zurich, and Sedgwick.
The collaboration between the two organisations is the “perfect partnership,” according to Jonathan Jackson, CEO of Previsico.
“During early trials, Previsico had installed its own sensors, but we needed a specialist to take on the installation following surging demand,” he said. “Together Previsico and Watertight are now able to offer a one-stop-shop for risk engineers who have assessed properties at risk of flood and require PFR measures and warnings.”
The partnership is intended to support insurers’ risk engineering teams who undertake flood risk analysis to advise clients to use flood warnings and implement flood resilience measures.
Gareth Boyd, CEO of Watertight, said: “Watertight had been seeking a flood warning system that covered surface water, as our flood resilience preparedness measures’ effectiveness relies on such warnings. It will be hugely beneficial therefore, to partner with Previsico, the market leader in this space.”