Swiss Re has announced that Fathom’s flood hazard and terrain data are now being integrated into its internal catastrophe model, enhancing the reinsurance giant’s understanding of global flood risk.
Since acquiring Fathom in December 2023, Swiss Re said its teams have been working to expand and harmonise Fathom’s core datasets to support next-generation flood modelling.
With Fathom’s high-fidelity flood models already deployed within the Swiss Re Risk Data Solutions suite, ongoing collaboration is driving the systematic incorporation of Fathom data across Swiss Re’s underwriting and portfolio management activities.
This integration reportedly provides a wide array of risk assessment tools for both insurance and corporate clients.
Current efforts include the creation of 50,000-year probabilistic flood event sets, leveraging AI-enhanced climate models to capture extreme scenarios and eliminate historical biases.
The new models will also incorporate FathomDEM+, Fathom’s advanced global terrain dataset, to improve accuracy across diverse geographies.
Balz Grollimund, Head of Cat Perils at Swiss Re, commented, “Combining Fathom’s flood hazard capabilities with Swiss Re’s catastrophe modelling and underwriting expertise enables us to push flood risk modelling further.”
Stuart Whitfield, CEO of Fathom, said, “Swiss Re’s use of our data within its internal catastrophe model development demonstrates how critical peer-reviewed science and validated flood data are to understanding risk at a global scale.
“We’re proud to be working closely with Swiss Re to help communities and economies better prepare for and manage extreme flood events.”
