Swiss Re Corporate Solutions has partnered with Airbus Aerial to provide flood prevention modelling services to enable insurance companies to recognise flood risks and predict weather-related flood damage.
As part of the collaboration, Swiss Re Corporate Solutions’ flood assessment tool FLOAT will get access to Airbus Aerial’s drone imagery and data.
FLOAT uses drones to gather accurate, location-specific elevation data whose realistic visualisation shows flood vulnerabilities and low-points.
By using software and aerospace technology from Airbus Aerial, FLOAT will further boost its capabilities to predict weather-related flood losses.
Airbus Aerial president Jesse Kallman said: “We are very excited to announce our collaboration with a global leader in the commercial insurance market, and to be able to offer this unique solution to Swiss Re Corporate Solutions’ clients around the world.”
Swiss Re Corporate Solutions manager of risk engineering services for EMEA Philip Brandl said: “Aerial’s ability to deliver cutting-edge and reliable drone imagery and data makes them a perfect match for Swiss Re Corporate Solutions’ goal to help our clients protect their businesses.
“FLOAT is an innovative and cost-effective service that clearly shows clients where they are at risk for flood, so they can take steps to better protect themselves.”
In February this year, Swiss Re Corporate Solutions launched its latest cyber risk protection coverage, CyberSolution 360°, for small and medium-sized enterprises (SMEs).
In January, it rolled out a parametric water-level insurance solution known as Flow to safeguard companies in Europe from the financial impact of high or low river water levels.