Flood risk modeller Fathom has announced the launch of its updated US flood model, Fathom-US, via multi-vendor catastrophe risk modelling platform ModEx.
Fathom-US incorporates the latest datasets available in order to model flood risk across river channels of all sizes, and for both fluvial and pluvial perils.
The model has also been validated, in collaboration with Google, across the entire conterminous United States, a move designed to provide users with transparency around methods and model performance.
By making the model available via ModEx, Fathom is aiming to provide a cost-effective solution for organisations who have neither the budget nor in-house resources to implement multiple models by themselves.
Powered by the Oasis LMF, ModEx delivers a hosted and fully managed service that offers a new and cost-effective way for firms to meet their modelling requirements.
“Fathom is dedicated to providing the most-detailed understanding of flood risk across the globe. Accuracy is vital. Our recent research has revealed 40 million Americans are at risk of having their homes flooded – more than three times as many people as previous federal flood maps suggested,” said Dr Andrew Smith, Chief Operations Officer, Fathom.
“As interest in US flood risk modelling continues to grow, ModEx provides us with the ability to improve access to our data and models.”
James Lay, Commercial Director, ModEx, added, “Fathom’s unique approach to flood risk modelling will further enhance the industry’s understanding of risk and provides greater insight to those tasked with preparing and managing against such floods.”
“By making their models more broadly available through ModEx, we further extend the choice of cat modelling services that are available to the industry.”