Self-stylised “data supermarket” WhenFresh has teamed up with flood risk specialist Ambiental Risk Analytics to extend the reach of its flood data to UK insurers.
WhenFresh supplies data from 200 proprietary, private and public UK data sources to UK lenders, insurers and other big data users. The FinTech’s clients include many of the UK’s leading insurers and eight of the top ten banks.
By accessing all of the data in a single location, clients can improve their ability to generate insights around property attribute, risk, peril, environmental, geospatial, climate, market and valuations.
Ambiental is the flood and climate analysis division of the Royal HaskoningDHV. Its UK FloodMap and UK FloodScore services are capable of building accurate visualisations of potential flood risks in the UK.
This includes risks from rivers, tidal and flash flooding, showing their potential flood depth and velocity information down to individual building level. It claims to include 25% more rivers than any other flood data source.
By working together, the companies hope to improve the flood data available through WhenFresh’s API.
WhenFresh CEO Mark Cunningham said, “We’ve now assembled over 2tn data items in one place and can provide all the property attribute, topological, geospatial, environmental, risk, peril, valuations, market and climate data that insurers, lenders and other big data users need to support their underwriting, pricing, property valuations, mortgage decisioning and more. The Ambiental flood data is an excellent addition to the range of data available via the WhenFresh API and makes this easily accessible both to existing and new end users.”
Ambiental channel sales manager Rob Carling said, “Even if you’ve already got a source of flood data, our specialist flood mapping data layers can support your flood risk strategy by giving you a more accurate and complete view of flood perils. In the insurance and banking sectors, it is also used to assist in compliance, such as with Solvency II, and meeting best practice guidelines.”
WhenFresh raised a £3m Series A round back in 2019. It rasied the funds to further the development of its insurance products and bolster expansion plans in target markets.
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