Reinsurance News

Previsico launches Instacasting, an advanced flood mitigation solution

13th November 2024 - Author: Taylor Mixides -

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Previsico, a provider of surface water flood forecasting, is introducing Instacasting, a next-generation flood mitigation solution.

previsico-logo-newInstacasting uses the most accurate observed rainfall data available (rather than predicted data) to assess surface water flood risks, enabling clients to respond more quickly and with greater confidence.

The Instacasting suite integrates seamlessly with Previsico’s other flood data, utilising the most comprehensive and geographically precise rainfall data on the market.

This helps insured clients optimise their flood resource allocation, loss control, and risk reduction strategies, potentially saving insurers tens of millions in losses caused by surface water and flash flooding.

Surface water flooding is currently the greatest flood risk in the UK, affecting over 2.8 million people in England (source: The Environment Agency).

With this innovative solution, Previsico’s clients—such as National Grid, Network Rail, and Zurich Insurance—will have the insights and tools needed to significantly reduce their flood-related losses.

A first in the industry, Instacasting leverages multiple data sources, including rainfall RADAR, to determine observed rainfall, rather than relying on forecasts. This data is then processed through Previsico’s modelling tool to predict flooding risks with up to 80% accuracy.

Jonathan Jackson, CEO of Previsico, added: “With Instacasting, our next generation, rainfall-based flood risk solution, Previsico gives clients far greater confidence and control over their flood mitigation efforts. Our new radar-derived observable data provides an unparalleled degree of accuracy and timeliness far in excess of any other solution available today.”

Instacasting will be offered in three formats: Instacast Outlook, which displays flood footprints from observed rainfall in a flood intelligence dashboard; Instacast Playback, allowing clients to view flood footprints from observed rainfall up to 12 hours prior using the same dashboard; and Instacast On-Demand, enabling clients to request customized retrospective analysis of events for further investigation.

Previsico’s existing flood warning system, which incorporates IoT sensors, is supported by two decades of research at Loughborough University. With the introduction of Instacasting, Previsico will further strengthen its position as a leading provider of surface water flood modelling and risk mitigation solutions.