We’re pleased to announce our latest UK Flood Pricing Data (previously known as Annual Damage Ratio [ADR®] data) which can be used for indicative property-level flood assessments to aid risk reflective pricing and informed risk selection at the point of underwriting.
JBA’s UK Flood Pricing Data provide flood risk metrics that are individually calculated for every property and postcode in the UK. The data allow insurers to better understand property-level flood risk, not just hazard, and how flood risk can change from one location to the next, enabling more profitable pricing strategies.
Pricing data™ works by analysing JBA’s 5m UK Flood Map to understand the unique pattern of flood type, frequency and intensity that can affect each property. This data is then combined with information on property flood vulnerability to produce an annual damage ratio for each property and postcode by flood type, coverage and building construction. This ratio can then be multiplied by a rebuild or replacement cost to derive a technical price for flood that is bespoke to that location, enabling more competitive pricing.
This annual update to our pricing data reflects the latest release of our market-leading 5m UK Flood Map, ensuring a robust and consistent data source is used from risk selection to risk pricing, and incorporates more up-to-date property and postcode information.
For more information on this dataset and how it can be used with the UK Flood Map, get in touch. To ensure you don't miss out on our latest company updates, news and event response releases, sign up for our mailing list below.
