Flood risk management company JBA Risk Management has announced its collaboration with Nasdaq, to make its Global Flood Risk Model available on the technology provider.
JBA’s Global Flood Model, which was released last year, is the ever probabilistic global flood model. With coverage of 99.98% of the world’s landmass, excluding Greenland and Antarctica.
The Global Flood Model fills gaps left by currently available catastrophe models, provides an alternative to existing models and, for the first time, enables consistent comparison of loss across country and continental borders.
BA estimates that over 60% of the global population at risk to inland flood annually, and almost 50% of global flood losses, can be found in just eight countries in Asia – a region traditionally lacking in catastrophe model coverage.
The release of the Global Flood Model on the Nasdaq Risk Modelling service enables re/insurers to manage flood risk more effectively by providing an accessible way to use JBA’s market-leading flood risk intelligence.
Via Nasdaq’s service, re/insurers can use the model to its full potential to make fully informed decisions about their risk management needs around the world, via a single interface.
Jane Toothill, director, JBA Risk Management said: “JBA has always been committed to making leading science usable and the Nasdaq Risk Modelling service is key to this. Nasdaq Risk Modelling is best in class for making data accessible, workable and user-friendly, and we’re delighted to add the Global Flood Model to our existing suite of models available via the service.”
Matthew Jones, head of catastrophe risk product, Nasdaq added: “JBA has broken new ground with its Global Flood Model, and we look forward to our continued collaboration to enable our clients to analyse and manage flood risk across the globe in an easily accessible format.”