Aviva unveils new technology for predicting flood risk
Aviva has unveiled new technology to help it more accurately predict the risk of flooding for homes and businesses.
Aviva, Britain’s largest insurer, said the map will enable it to more accurately assess the risks of each individual customer.
The technology, developed in partnership with JBA Consulting, uses digital technology to simulate which areas are most likely to be flooded over the next 200 years.
The digital map allows Aviva to assess the risks to individual properties, rather than assuming that all properties within a single postcode area are alike.
Aviva said the technology will enable it to offer its customers fairer prices on home insurance.
“Continued investment in flood technology, that recognises this increasing peril, enables us to gain more clarity and insight into who is a risk and who is not,” said Simon Black, Aviva’s head of flood mapping.
“That means Aviva can offer the right price for the right risk and actually gives us greater opportunity to write more business because we better understand that risk.
“It also improves our ability to help customers in the event of a flood claim as we will have a greater knowledge of which areas are likely to be flooded, so we can ensure we can direct the right resources to the right places as quickly as possible.”
Category: Aviva News, Home Insurance News, Insurance News
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