Case Studies

Breaking down the flood data

Canopius and Insurdata analysed data from a portfolio of properties across the Houston, Texas area to explore the extent to which augmented geocoding, perimeter and building attribute data affected exposure levels and annual average loss forecasts.

Canopius supplied Insurdata with a sample of geocoded property information representing a typical raw data set as available in the re/insurance market. The data underwent a series of augmentation processes, including: updating geocode information; adding building perimeter sets and building attribute data, including first-floor elevation (FFE).

The data sets were then modelled through Fathom’s high-resolution flood model on the ModEx cat modelling platform.

The study is a collaboration between Insurdata, Canopius, Fathom and Simplitium.

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“There is no reason why insurers should not be using accurate geocode data in their risk analysis. While the ability to map exposures at a much more granular level is relatively new, initiatives such as Insurdata, enhancements in satellite imagery and the evolution of machine learning are enabling much greater exposure detail at the individual property level.”
Dr Andrew Smith, Chief Operations Officer - Fathom
“We saw the expected losses to flood as a result of the repositioning change by an order of magnitude of as much as 80% in some cases, and that is material”
Paul Nunn — SCOR