Dr. Christopher Sampson & Dr. Andrew Smith: Fathom: Flood modelling goes global (231)

InsTech - insurance & innovation with Matthew Grant & Robin Merttens

InsTech

Business, Entrepreneurship, Investing

4.9 • 51 Ratings

🗓️ 19 February 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re covering two main themes here - building a business that survives and thrives after ten years - and assessing the growing risk from a flood. We’ve been working closely with Fathom for many years. In Matthew Grant’s discussion with the co-founders of Fathom, you’ll discover topics such as: The advantages of building a business with close links to a university How increases in the resolution of data and increased computing power have fundamentally changed flood modelling in 10 years Why and when co-founders should bring in an external CEO Why insurers are better at understanding risk than many other industries How to represent uncertainty in decision making River gauges and aerial images - creating credible data sources to plug the information gaps Working with partners such as Reask If you enjoyed this, we recommend Episode 220 for more information about Fathom, Reask and climate assessment. We’d love to know what you think about this episode - click here and add your thoughts to our LinkedIn post about it. If you like what you're hearing, please leave us a review on whichever platform you use or leave a post on Linkedin or contact Matthew Grant on LinkedIn. Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us hello@instech.co Continuing Professional Development - Learning Objectives InsTech is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe some of the advances in data and analytics that are enabling the development of global flood models Identify when co-founders should consider bringing in a CEO Summarise how insurers compare to other industries in assessing risk If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 231 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.

Transcript

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0:00.0	Chris, Andy, really looking forward to talking to today.
0:12.9	Chris, it's your first time on the Instat podcast, but Andy is an expert.
0:16.6	I think Andy actually you hold the record for the most number of appearances on the
0:19.6	internet podcast.
0:20.4	I think you're coming up to number five in different guises. So you're founded
0:23.7	back in 2013 out of Bristol University, where both of you were studying for a PhD. And I know
0:30.2	your office is still today. You're providing now global flood tools to insurance and a number
0:36.0	of other industries. We're going to hear a bit more
0:37.6	about that as we go. So insurers are pricing and then generally people are using your flood models
0:42.2	to manage risks. And I believe you've now got 45 people with you. So being going 10 years,
0:47.8	you've got a substantive business now. Congratulations on making it through that early challenge
0:52.7	of a startup going to a scale up.
0:55.3	You had close to a thousand people listened to the episode, Andy, that we did with you and
0:59.6	Olli back in 130s. So that makes you in our top 25% of popular podcasts. So that's the challenge
1:06.0	for both of you today. Chris, Andy, welcome. Thanks, Matt. Thank you. Did I miss anything in that initial overview for the company?
1:12.8	I don't think so.
1:13.5	It was a nice way to summarize the last decade of our lives.
1:16.6	I can't quite believe it's been five times on here.
1:19.1	People will think I'm a complete narcissist.
1:21.4	Chris, don't say anything.
1:22.6	I was going to say, that won't be a surprise to anyone on the team here. Well, yeah, as you said, 10 years, it's something of a milestone.
1:29.4	How does Fatham look today from when you had the idea back in 2013?
	...

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