Flood risk modeller Fathom has announced the launch of Fathom-Global 3.0, a new map providing insurers with full global coverage of all flood perils.
The company states that Fathom-Global 3.0 enables users to quantify and mitigate flood risk, and understand changes in risk under future climate scenarios. It adds that unlike most maps, which are limited to inland fluvial and pluvial flood data, Fathom-Global 3.0 also models coastal flood risk.
Additionally, insurers have access to flood maps that draw on scientific data representing the size, width, depth and flow of every river channel in the world.
The map is at ~30-metre resolution globally and is based on terrain data from FABDEM – Fathom’s latest complete ‘bare earth’ map of the Earth’s terrain, enriched with LiDAR data where available.
Dr Andrew Smith, co-founder and COO at Fathom, commented, “We launched Fathom in 2013 with an aim to deliver science-driven and fully transparent flood modelling and to accelerate the world’s understanding of flooding on a global scale.
“Fathom-Global 3.0 is our biggest step yet to making high-quality flood hazard data accessible worldwide. It is by far the most robust and comprehensive flood dataset available today.”
Smith added, “Having reliable and sound flood hazard data is fundamental to understanding the exposure and resultant vulnerability of any property, facility and asset. This is especially important for insurance and reinsurance professionals who, until now, have struggled to obtain complete and consistent data across all the countries in which they have business.”
Fathom notes that where other flood maps chiefly rely on historic data, Fathom-Global 3.0 draws on extensive peer-reviewed academic research and scientific data sources to simulate the behaviour of water across all flood perils.
This data is available via the new Fathom API, which allows customers who prefer on-demand use to access all spatial data without the need to host files.
Fathom adds that for customers who wish to bring the dataset in-house or access data via a Fathom partner, it continues to offer a range of flexible data access options.
Paul McEwan, Global Risk Analytics Director at Sompo International said, “Fathom provided a first-rate product and service based upon cutting-edge research and methodologies, which are both robust and transparent.
“Their flood data sets are global, consistent and high calibre. Most importantly, Fathom is a responsive and collaborative firm who consistently deliver.”
Meanwhile, in August, Fathom partnered with Reask, a climate risk analytics firm specialised in atmospheric hazard models, to create combined wind and flood risk models.
