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We are delighted to announce our collaboration with Nasdaq, the technology provider to capital markets and beyond, to make JBA’s cutting-edge Global Flood Model available on the Nasdaq Risk Modelling service, the multi-vendor catastrophe modelling solution for the insurance industry.
JBA’s Global Flood Model, launched last year, is the first ever probabilistic global flood model. With coverage of 99.98% of the world’s landmass, excluding Greenland and Antarctica, the Global Flood Model fills gaps left by currently available catastrophe models, provides an alternative to existing models and, for the first time, enables consistent comparison of loss across country and continental borders. JBA estimates that over 60% of the global population at risk to inland flood annually, and almost 50% of global flood losses, can be found in just eight countries in Asia – a region traditionally lacking in catastrophe model coverage.
The release of the Global Flood Model on the Nasdaq Risk Modelling service enables re/insurers to manage flood risk more effectively by providing an accessible way to use JBA’s market-leading flood risk intelligence. Via Nasdaq's service, re/insurers can use the model to its full potential to make fully informed decisions about their risk management needs around the world, via a single interface.
JBA has always been committed to making leading science usable and the Nasdaq Risk Modelling service is key to this. Nasdaq Risk Modelling is best in class for making data accessible, workable and user-friendly, and we’re delighted to add the Global Flood Model to our existing suite of models available via the service.
The Global Flood Model is underpinned by JBA's modelling technology - a revolutionary analysis engine which provides new levels of customisation. The technology not only permits risk quantification for any location across the world, but also removes the rigidity of traditional flood models by eliminating the need to embed assumptions into the model.
JBA has broken new ground with its Global Flood Model, and we look forward to our continued collaboration to enable our clients to analyse and manage flood risk across the globe in an easily accessible format.
The new cloud-native Nasdaq Risk Modelling service is powered by the latest version of the Oasis Loss Modelling Framework. The Global Flood Model fits seamlessly within Nasdaq Risk Modelling and Oasis LMF through JBA's modelling technology. It is also available in-house and via consultancy.
To find out more about the Global Flood Model on the Nasdaq Risk Modelling service, fill in the form above.
