Mark Fermor, Non-Executive Director: GeoSmart: Groundwater - the hidden predictor of future flood loss (294)

InsTech - insurance & innovation with Matthew Grant

InsTech

Entrepreneurship, Investing, Business

4.8 • 50 Ratings

🗓️ 17 March 2024

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Groundwater flooding poses a great risk to properties in the UK but remains much less widely modelled than other types of flooding. This week, Matthew Grant caught up with Mark Fermor at GeoSmart, a company specializing in flood data analytics in the UK. They discuss GeoSmart's role in providing detailed flood risk assessments, leveraging their advanced modelling tools that cover all sources of flooding and how they are helping other organisations access and understand open-source data. Key talking points: Discovering the hidden cause of flood risk What problems are GeoSmart helping insurers to solve Different ways to experience a flood The issue of groundwater beyond the UK Open-source data - how GeoSmart can help If you like what you're hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn. To find out more about InsTech, our membership and offerings visit www.instech.co or contact us [email protected] Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe what groundwater is and why it is an important factor to model to understand flooding Explain how open-source data can help the insurance industry understand risk better Summarise what flood models are and how GeoSmart produces their models 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 294 page of the InsTech website or email [email protected] 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	Now these are the problems we can see, but it's the water beneath this saturated county
0:07.0	that's the hidden menace when it comes to flood risk.
0:14.0	Hello and welcome wherever you are tuning in from.
0:21.4	I'm Zoya, marketing associate here at Instech, and I'm taking over from Matthew whilst he is away with Robin at our event in New York.
0:28.6	A huge thank you to everyone who joined us on the 14th at Google's office.
0:32.6	We look forward to coming back again in June. Look out for us then.
0:36.1	This week we welcome GeoSmart on the podcast,
0:38.5	as Matthew speaks to Mark Furmore on flood risk, particularly touching on the lessened
0:42.9	known risk of groundwater. Mark, it's great to have you. She saw you already this week
0:51.1	on Tuesday at our Risk Manager event. I hope that was useful and actually
0:55.5	almost as boring. I hope you actually get some pizza because someone I spoke to by the time
0:59.2	he finished speaking to me he ran out of pizza or we'd run out of pizza. But anyway, was it useful for you?
1:03.8	It's great to be with you, Matthew, and it was great to be at that event. It's a great venue for
1:09.0	the networking and getting together. Very sadly, living in the back of
1:12.0	beyond in Shrewsbury, I have to run for the train just as the pizza is being served. So I had to
1:17.3	pass on that one. Well, we'll give you a special early pizza next time. But we do feel very
1:21.4	honored when people like you come down, because well, I guess you've got a couple hours
1:24.4	in a train to get down to London for the events. So thanks to you and your team for coming down and joining us.
1:29.3	So let's talk a bit about GeoSmart.
1:31.0	So you are an information provider of flood data and analytics across the UK.
1:35.6	Your modelling tool covers all sources of flooding.
1:37.8	We're going to be talking about that, including the ones that people probably know best, river, flash, flooding and and tidal but also groundwater. The data is being used to
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