Finance and Consulting

The challenge

Flood managers, emergency services, industry and the public need to know beforehand where and when flooding will occur. Accurate early information enables flood defences to be operated,  emergency services mobilised into the areas at greatest risk, industry and the public to be prepared, and the most vulnerable areas to be evacuated.

The challenge

The total value of assets under flood risk in the UK is estimated to exceed £200bn, and since 2000 insurers have paid out £4.5bn to customers whose homes or businesses have been hit by flooding (up 200% on the previous decade in real terms). One in six homes in England is currently at risk of flooding, and nearly 500,000 people face a significant flood risk.

There is an urgent for improved flood models that can help government target flood defence schemes more effectively, and insurers price risk more efficiently.