Solutions · Exploring adoption
Insurance & risk management applications
Summary
We discuss with insurance and risk-management organizations the potential to use location-level rainfall records for risk assessment and claims review. The approach and scope of adoption are decided together through cooperation discussions.
Concept illustration Concept illustration of flood exposure at building ground floors
The problem
An area-wide average rainfall figure cannot describe the intensity of rain a specific building or vehicle actually experienced.
Advance alerts to high-flood-risk facilities could reduce losses, but the location-level information needed for this is lacking.
Users
- Insurer product/risk department
Assesses regional and location-level rainfall risk.
- Claims department
References the rainfall record for an incident’s time and place.
- Corporate risk-management organization
Monitors risk around its assets and takes preventive measures.
Use flow under exploration
- 01
Data integration
Receives data via API from observation points in an area of interest.
- 02
Risk assessment
Uses accumulated observation records as risk-assessment input.
- 03
Preventive alert
Sends preventive guidance to policyholders or asset managers based on risk level.
Assumptions
- Values for locations without an observation point are estimates and must be distinguished from measured values.
- The purpose and scope of data use are set by contract.
Read the Rain. Protect What Matters.