Global flood expert, JBA Risk Management (JBA), and leading data enrichment and geospatial insurance analytics firm, SpatialKey, have collaborated to provide JBA’s new 5 meter flood maps and associated pricing data to insurers who underwrite and manage flood risk in the state of Florida. These are the most detailed flood maps available for Florida and the start of the initial rollout of JBA’s high-resolution maps for the continental United States. The maps are now available for use within SpatialKey and will bring increased insight into flood risk to the wider insurance community.
JBA’s new Florida Flood Maps provide a comprehensive view of flood risk at the highest resolution available on the market for all three principal types of flood: fluvial (river), pluvial (rainfall), and storm surge flood hazard across the state at a resolution of 5 meters. Additionally, JBA’s pricing data translates the flood maps into an easy-to-use tool for insurers to calculate an annualized cost of flooding at any location in the state.
“JBA has long been a trusted source in the global flood market,” comments Monique Nelson, Director of Data Product Management at SpatialKey. “We’re excited to bring the industry’s highest resolution flood data to the U.S. market. By making JBA’s data available within SpatialKey, insurers have a unified solution where they can quickly access the data as well as understand and visualize it in the context of their portfolios—helping them to make the most informed and accurate decisions possible.”
Matt Reid, Managing Director, JBA Risk Inc. USA, said “By providing our data on the SpatialKey platform, we are giving insurers access to the latest flood data and analytics at the point of underwriting, enabling them to make more informed decisions regarding the very real, and complex, flood risk in Florida” The JBA Maps are available now through SpatialKey.
SpatialKey is the data enrichment and geospatial analytics hub for the insurance industry. We help P&C professionals make better decisions by enabling, enriching, and analyzing any and all data—via a single solution. More than 100 insurers trust our innovative, off-the-shelf solutions for underwriting, exposure management, and claims to help them achieve healthier portfolios, operations, and profits. For further information, see www.spatialkey.com.
About JBA Risk Management
Established in 2011, we are a global leader in flood risk management. Affectionately known as The Flood People, our flood maps, catastrophe models and analytics are used by some of the world’s largest insurers, reinsurers, financial institutions, property companies and governments. We’re experts in translating complex, scientific data into useful information, using sophisticated hydraulic approaches and models to provide cutting-edge flood risk intelligence. As part of the JBA group, we work closely with leading academic institutions in the field of flood risk. We also support our independent charity, JBA Trust, which enables research, education and training in the water environment sector. Our commitment to continuous improvement and detailed research and development is what makes us the number one choice for many insurers, reinsurers, financial institutions and governments. For further information, see www.jbarisk.com.