When it comes to modelling flood risk it’s never a case of ‘one-size fits all’. Every country has different climatology and specific meteorological and geological characteristics. There are also limitations regarding which data is available and where. Flood management considerations like defences or other applications differ throughout and therefore always require local data. Any given country or region is quite unique and needs to be considered as such – especially when it comes to flood modelling.
Catastrophe Modelling with a difference
Underpinned by our market-leading flood maps, JBA catastrophe models challenge the limitations of traditional flood modelling. Our software is designed to consider the local-level detail that can significantly impact flood outcomes in large-scale country or regional analyses. This approach also enables us to incorporate the best possible data for any location and offers our clients the flexibility to add additional data that they might want to be considered.
Relevant flood risk analysis
Each JBA flood model is created by accessing data that is directly relevant to the region or country or portfolio of interest. The benefits of this capability are:
- Data updates can be incorporated efficiently into the model. For example, changes to the landscape like the construction of new flood defences can immediately be taken into account
- You can create ‘what-if’ scenarios to support, challenge and sense-vet your decision-making. (For example, what if defence standards were increased to a given level? Or, what if the vulnerability were improved?)
- The model can be customised to best match the analysed exposure
And if you don’t want to customise the model to your own view of risk you can simply use the recommended model view provided by JBA.
We model at 30m resolution for river and surface water flooding for every country but through our modelling technology, this data can be substituted to suit client needs, for example incorporating JBA’s 5m resolution mapping across different flood types in the UK, US and Europe. We also have JBA’s climate change adjusted model for the UK.
Flood Models that help inform decisions
Results from our catastrophe modelling can be used for:
- Reinsurance pricing – gives the long-term expected loss cost beyond claims experience
- Assessing capital requirements – assesses the unexpected loss cost from low frequency, high severity catastrophic events
- Planning and portfolio management – demonstrates the impact of diversification and concentration of risk and potential changes to reinsurance structures
- Considering potential impacts of climate change on any given area, region or portfolio – informs decision-making around building resilience and applying mitigation strategies
Access
Our flood models incorporate cutting-edge JBA analysis techniques specific to high-resolution flood modelling in the Oasis platform. They can be accessed via ELEMENTS by Impact Forecasting, Moody’s Intelligent Risk Platform™ (IRP), Nasdaq’s Risk Modelling For Catastrophes, or directly in the Oasis software for users with in-house installations. Portfolio analyses can also be obtained from JBA on a consultancy service basis.
In the last 12 months JBA has modelled over 36 different countries to obtain flood risk detail for all kinds of projects in insurance, investment, finance and disaster recovery and resilience. How can our models help you? Get in touch below.