Jane Toothill & Matt Reid: JBA Risk Management: US flood - lessons learnt from the UK (136)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 2 May 2021

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

Flood is the most pervasive hazard in the United States, but despite the huge scale of the risk there are major challenges around the provision of adequate flood cover based on accurate, real-time data.JBA Risk Management has spent the past decade developing flood models covering 99% of the world’s landmass and has leveraged that experience to provide new flood hazard maps and real-time modelling for US insurers.Matthew finds out more on Podcast 136 from Jane Toothill, Managing Director, JBA Risk Management Ltd, and Matt Reid, Managing Director, JBA Risk Management Inc.Talking points include: Integrating flood data into decision-making processes Applying global insights and knowledge to US extreme weather events Real-time probabilistic modelling through JBA’s FLY technology Catastrophe modelling for climate change scenarios The state of the US NFIP and the emergence of a private US flood insurance market If you like what you're hearing, please leave us a review on whichever platform you use, or contact Matthew Grant on LinkedIn. You can read an edited transcript of the conversation from Podcast 136 on the InsTech London website. JBA Risk Management was named as one of the companies to watch in our recent Location Intelligence 2021 report. More content is also available on the company's InsTech London profile page. Continuing Professional Development - Learning Objectives InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to any InsTech London podcast or reading the accompanying transcript, you can claim up to 0.5 hours towards the CII member CPD scheme. To claim 0.5 hours for this podcast, go to the Episode 136 page of the InsTech London website, or email [email protected].

Transcript

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0:00.0	Well, wherever in the world you are listening from, it's likely that flood is one of the
0:16.0	perils that you're exposed to, possibly even of catastrophic proportions. But flood is also one of the hardest perils to model.
0:23.0	And until recently, there have been few choices for those looking for tools to manage portfolios
0:27.8	or select risk, certainly outside of the UK. Now, things are starting to change and for a number of
0:34.0	reasons. This includes the opening up of flood insurance to the commercial market in the US,
0:38.5	increasing population densities and more powerful analytics. So there are now an increasing
0:43.6	number of companies emerging to model flood offer insurance and help assess future climate scenarios.
0:50.8	JBA risk management and its parent JBA have actually been around offering flood consulting data
0:55.2	and they've been there since 1995.
0:58.7	They've become well established in the UK and are now offering a flood model around the world.
1:03.8	We've been talking and writing about flood risk and how the market is changing for quite some time
1:08.0	and you're going to see a lot more from us coming later in the year.
1:10.6	If you're a first-time listener, welcome. I'm Matthew Grant, partner at Instech London.
1:15.6	Robin Merton's myself and our growing team are talking to hundreds of companies each month
1:19.3	in order to help our network of insurers, technology companies, startup, investors and others
1:24.6	understand what is really going on in Insure tech and beyond. Glad you found us.
1:29.5	Now this is another fact-filled episode, but no need to stop what you're doing to take notes
1:33.8	as you'll find all you need on our website. Link in the episode notes. So just sit back, lean in or
1:39.6	keep up whatever you're doing and join me as I talk to Jane Tutill and Matt Reed.
1:53.7	Jane, Matt, we've known each other for crikey many years. It's a delight to be talking to
1:58.7	both of you today about JBA. JBA is one of these companies that
2:03.5	has been around for many years now, but is still doing some incredibly innovative work and is
	...

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