Previsico has called for urgent collaboration between insurers, government, and industry to tackle the rising threat of floods driven by climate change and rapid urbanisation.
The move comes as flooding, fuelled by climate change and intensified urbanisation, is becoming a systemic threat across the UK, according to InsurTech Insights.
The annual cost of flood losses already surpasses £1bn – and with forecasts suggesting a fivefold increase by 2050 – the company is urging insurers, government, and industry leaders to come together to tackle the growing crisis.
Speaking at the Climate Innovation Forum during London Climate Action Week, Previsico head of sales Aleksander Surowiak said fragmented approaches to flood risk are no longer sustainable.
“Flooding is no longer an isolated threat – it is a systemic risk that affects us all,” Surowiak said. “I’m urging insurers, government, and industry leaders to work together to safeguard our communities, infrastructure, and economy.”
Surowiak was joined on stage by energy and climate change secretary Ed Miliband, who echoed the call for urgent action. “Communities across the UK are already facing the consequences of flooding. The urgency of the climate imperative is clearer than ever,” Miliband said.
Previsico, a UK-based InsurTech specialising in live flood forecasting, is positioning its technology and partnerships as part of the solution. The firm has developed collaborations with insurers such as Liberty Specialty Markets, through the Risk Reduce platform, and Zurich Municipal, where its live alerts are embedded into insurance policies. These models aim to reduce exposure through real-time insights and actionable early warnings.
“We know that up to 70% of flood losses can be avoided with the right plans and early warnings,” Surowiak said. “Now is the time to act – together.”
The company is calling for a national flood resilience strategy built on smart forecasting tools, live data, and aligned incentives that prioritise prevention over response. Without such coordinated efforts, Previsico argues, the UK remains dangerously exposed to worsening climate-related impacts.
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