Swiss Re Reinsurance Solutions has revealed that Fathom’s advanced Global, UK, and Japan flood maps are now available within the CatNet risk assessment platform.
If you recall, At the time, it was revealed that Fathom would retain its brand and work closely with the Swiss Re’s Reinsurance Solutions division to develop further and distribute its innovative flood and climate risk data, maps, and models.
Now, through the integration of Fathom’s flood maps into CatNet, Swiss Re Reinsurance Solutions noted that its clients can access additional high-resolution, accurate datasets, which span the entire planet, and the ability to view multiple flood-risk models on a single platform, leading to more comprehensive risk assessments.
“The benefits for the insurance industry are manifold, as this integration allows our clients to not only holistically assess their portfolios but also obtain additional insights into climate change and urbanisation patterns affecting flood risks, and apply them for risk pricing, mitigation, and building community resilience against flood peril,” Swiss Re’s Reinsurance Solutions explained.
Ali Shahkarami, Global Head P&C Solutions at Swiss Re, commented, “The insurance industry has an increasingly important role to play in supporting societal resilience in the face of an evolving flood risk landscape.
“This integration is a significant step forward in enhancing our understanding of this rapidly evolving peril and is a testament to our commitment to make the world more resilient.”
Andrew Smith, Chief Operating Officer at Fathom, added, “The fact that we are taking cutting-edge models that have been produced together with academia and making them accessible and available to insurers within the renowned CatNet® platform is a significant milestone.”
