The recent Previsico Webinar brought together industry experts to discuss innovations in flood risk prediction, real-time monitoring, and parametric insurance. Hosted by Matthew Grant, CEO of InsTech, the session featured insights from Grace Miller, Customer Success Manager at Previsico; Matthew Parkes, Site Agent at Balfour Beatty Vinci; and Vania Hernandez-Bello, Innovation Project Manager at Descartes.
The growing challenge of flood risk
Flooding is becoming more frequent and severe due to climate change and increased urbanisation. Businesses and insurers are facing billions in losses each year as flood events disrupt operations, damage property, and drive up insurance claims.
Grace Miller, Customer Success Manager at Previsico, highlighted the two primary challenges:
- Rising flood losses – More frequent and severe flood events are driving up costs for businesses, insurers, and governments.
- Lack of resilience – Many organisations still struggle with limited access to accurate flood data and real-time monitoring, leading to inadequate preparedness.
While the UK is regarded as one of the best countries in terms of publicly available flood data, many regions still lack the necessary infrastructure and education to respond effectively to flood events.
Previsico’s approach: real-time flood monitoring & prediction
Previsico is tackling the flood risk challenge with a three-pronged approach:
- Advanced forecasting – Providing property-level flood forecasts with a 25-meter resolution to give businesses and insurers better insight into potential risks.
- Real-time sensors – Deploying water-level sensors to monitor flood conditions and detect blockages that may exacerbate flooding.
- Instacasting technology – Using real-time rainfall data to provide immediate flood warnings, enhancing proactive risk management.
This multi-layered strategy ensures that businesses can act quickly, protecting assets and minimising damage before floodwaters rise.
Real-world application: Balfour Beatty Vinci’s flood monitoring strategy
Matthew Parkes, Site Agent at Balfour Beatty Vinci (BBV), provided a real-world example of how Previsico’s flood monitoring solutions are being used on HS2 construction sites near Birmingham.
Several pile caps and piers in flood-prone areas needed continuous monitoring to prevent equipment damage and environmental hazards. The company installed Previsico’s real-time water sensors, allowing them to:
- Predict flooding 36 hours in advance, giving teams time to relocate assets and reduce disruption.
- Minimise environmental impact, ensuring debris and pollutants didn’t wash into nearby waterways.
- Enhance safety by avoiding hazardous work conditions during flooding events.
This proactive approach improved efficiency, strengthened BBV’s relationship with environmental regulators, and demonstrated the value of real-time flood monitoring for large-scale infrastructure projects.
Watch the full webinar
Hear flood modelling specialists from Previsico, alongside their customers, to explore how real-time data can provide more accurate and actionable flood warnings, helping businesses to better manage their risks.
The role of parametric insurance in flood resilience
Vania Hernandez-Bello, Innovation Project Manager at Descartes, introduced the concept of parametric flood insurance, a data-driven alternative to traditional policies.
Unlike conventional insurance, which requires on-site damage assessment, parametric insurance:
- Triggers payouts based on predefined flood levels recorded by sensors.
- Provides rapid claims processing, with payouts delivered in days rather than weeks or months.
- Offers transparent risk assessment, ensuring businesses know exactly what they are covered for.
By integrating Previsico’s real-time sensor data, insurers can offer more accurate, efficient, and transparent flood coverage. Businesses in flood-prone areas benefit from faster financial recovery and reduced economic disruption.
Key innovations in flood risk management
- Instacasting: A New Era of Real-Time Flood Warnings
Previsico’s latest innovation, Instacasting, marks a leap forward in flood risk prediction. This technology uses:
- Live radar rainfall data to detect flooding as it happens.
- High-resolution flood models to map where inundation is occurring in real time.
- Actionable insights that help insurers and businesses respond more effectively.
As Grace Miller explained, Instacasting provides a higher degree of accuracy than traditional forecasting models, allowing for more precise and timely flood response strategies.
- The Expanding Role of Sensors in Flood Management
Water-level sensors are becoming increasingly affordable, scalable, and data-rich, making them a key tool for businesses and insurers alike. Previsico’s managed sensor service provides continuous monitoring, sending alerts when floodwaters reach critical levels.
- The Future of Flood Insurance
The insurance industry is moving towards a more data-driven approach, with flood sensors playing a crucial role in:
- Risk-based pricing, allowing insurers to tailor premiums to actual flood exposure.
- Early warning systems, reducing loss severity through proactive action.
Expanded parametric offerings, ensuring faster, fairer payouts for flood-related losses.
Final takeaways: are you prepared for the next flood event?
As businesses, insurers, and governments seek better ways to mitigate flood risk, the combination of real-time data, predictive analytics, and parametric insurance is proving to be a valuable tool.
Key questions to consider:
- Does your organisation have a flood response plan?
- Who is responsible for flood risk management within your company?
- How can you leverage real-time flood data to enhance resilience?
You can watch the full webinar to learn more.
Watch the full webinar
Hear flood modelling specialists from Previsico, alongside their customers, to explore how real-time data can provide more accurate and actionable flood warnings, helping businesses to better manage their risks.
