Risk Spatial partners with JBA Risk to provide flood data solutions for Asia Pacific
Announcement posted by Risk Spatial 29 Feb 2016
Media Release 25 February 2016
Risk Spatial partners with JBA Risk to provide flood data solutions for Asia Pacific
Insurance technology start-up Risk Spatial has today announced the signing of a three-year reseller agreement with leading flood modelling firm JBA Risk Management. Risk Spatial will provide JBA's Global Flood Map (GFM®) products for 22 countries in Asia Pacific, to insurance and reinsurance clients throughout the region.
The move continues an industry shift towards making risk models and their components more readily accessible for the insurance market. The continued focus on catastrophe risk by both regional and global regulators, as well as challenging market conditions and evolving climate conditions, is encouraging insurers to utilise multiple sources of catastrophe risk information to better understand their exposures.
JBA’s Global Flood Maps tell us that in Australia alone close to 700,000 properties are at risk of river flooding once in 20 years, rising to over a million properties once in 100 years. Carriers require prudent methodologies for assessing exposure to natural hazards, and the JBA products provide a consistent, global perspective on flood risk.
Nick Hassam, Director at Risk Spatial said, "we are excited to form this partnership with JBA which will complement our ambitious application development program.
“Our aim is to deliver world-class risk data products on our platform which are easy to access, provide game-changing solutions and enable better underwriting decisions to guide risk strategy.”
JBA Risk Director Jane Toothill said, "we are pleased to provide our flood maps to Risk Spatial and are excited about seeing our data used in their product suite to provide clients with new and innovative ways to manage flood risk."
Risk Spatial will make the JBA data available in a range of products to suit the evolving needs of the insurance industry, including new applications focussed on insurance risk management.
ENDS
For further information, please contact:
Sophie Chant | Rhetoric Communications | +61 (0) 434 104 502 | sophie@rhetoriccommunications.com
About Risk Spatial
Risk Spatial was founded in 2015 with the goal of extending the use of spatial science to a range of industries and organisations. Building upon a rapidly growing supply of geographic information, the decreasing cost of managing enterprise spatial platforms and an ever-increasing demand for high quality, fit-for-purpose analytical capability, Risk Spatial leverages industry experience and technical know-how to implement solutions in all organisations and markets.
In 2015 they were invited to be part of the Esri start-up Program which gives emerging businesses the tools to build mapping and location analytics capabilities into their products.
The company’s head-office is in Australia.
Visit us at www.riskspatial.com.
About Nick Hassam
Risk Spatial Founder and Director Nick Hassam has a career spanning more than 18 years providing managerial, consultancy and technical expertise to a range of organisations, industries and international markets. His recent experience has focussed on delivering analytical solutions for catastrophe risk management to the world’s leading insurance and reinsurance firms, in both the London and Australian markets. He holds a Master of Science from the University of London and an MBA from the University of Adelaide.
For more information, visit: https://au.linkedin.com/in/nickhassam
About JBA Risk
JBA Risk Management is a leading provider of natural hazard modelling services for insurers, reinsurers, and property or asset managers. JBA people are experts in their field and have great ideas which they deliver through exceptional technical expertise. JBA Risk Management provides security through knowledge, helping clients to understand and manage risks from natural hazards.
In 2014 JBA Risk Management won Catastrophe Risk Modeller of the Year at the London Market Awards.
Visit us at www.jbarisk.com.
Reseller Agreement
Risk Spatial’s reseller agreement includes providing JBA’s Global Flood Maps at 30m resolution for return periods of 1/20, 1,50, 1/100, 1/200, 1/500 and 1/1,500 years; for river flood and surface water flood. Countries included are: Australia, Bhutan, Brunei, Cambodia, China, East Timor, Fiji, India, Indonesia, Japan, Laos, Malaysia, Myanmar, Nepal, New Caledonia, New Zealand, Papua New Guinea, Philippines, Singapore, Sri Lanka, Taiwan and Vietnam.
Risk Spatial partners with JBA Risk to provide flood data solutions for Asia Pacific
Insurance technology start-up Risk Spatial has today announced the signing of a three-year reseller agreement with leading flood modelling firm JBA Risk Management. Risk Spatial will provide JBA's Global Flood Map (GFM®) products for 22 countries in Asia Pacific, to insurance and reinsurance clients throughout the region.
The move continues an industry shift towards making risk models and their components more readily accessible for the insurance market. The continued focus on catastrophe risk by both regional and global regulators, as well as challenging market conditions and evolving climate conditions, is encouraging insurers to utilise multiple sources of catastrophe risk information to better understand their exposures.
JBA’s Global Flood Maps tell us that in Australia alone close to 700,000 properties are at risk of river flooding once in 20 years, rising to over a million properties once in 100 years. Carriers require prudent methodologies for assessing exposure to natural hazards, and the JBA products provide a consistent, global perspective on flood risk.
Nick Hassam, Director at Risk Spatial said, "we are excited to form this partnership with JBA which will complement our ambitious application development program.
“Our aim is to deliver world-class risk data products on our platform which are easy to access, provide game-changing solutions and enable better underwriting decisions to guide risk strategy.”
JBA Risk Director Jane Toothill said, "we are pleased to provide our flood maps to Risk Spatial and are excited about seeing our data used in their product suite to provide clients with new and innovative ways to manage flood risk."
Risk Spatial will make the JBA data available in a range of products to suit the evolving needs of the insurance industry, including new applications focussed on insurance risk management.
ENDS
For further information, please contact:
Sophie Chant | Rhetoric Communications | +61 (0) 434 104 502 | sophie@rhetoriccommunications.com
About Risk Spatial
Risk Spatial was founded in 2015 with the goal of extending the use of spatial science to a range of industries and organisations. Building upon a rapidly growing supply of geographic information, the decreasing cost of managing enterprise spatial platforms and an ever-increasing demand for high quality, fit-for-purpose analytical capability, Risk Spatial leverages industry experience and technical know-how to implement solutions in all organisations and markets.
In 2015 they were invited to be part of the Esri start-up Program which gives emerging businesses the tools to build mapping and location analytics capabilities into their products.
The company’s head-office is in Australia.
Visit us at www.riskspatial.com.
About Nick Hassam
Risk Spatial Founder and Director Nick Hassam has a career spanning more than 18 years providing managerial, consultancy and technical expertise to a range of organisations, industries and international markets. His recent experience has focussed on delivering analytical solutions for catastrophe risk management to the world’s leading insurance and reinsurance firms, in both the London and Australian markets. He holds a Master of Science from the University of London and an MBA from the University of Adelaide.
For more information, visit: https://au.linkedin.com/in/nickhassam
About JBA Risk
JBA Risk Management is a leading provider of natural hazard modelling services for insurers, reinsurers, and property or asset managers. JBA people are experts in their field and have great ideas which they deliver through exceptional technical expertise. JBA Risk Management provides security through knowledge, helping clients to understand and manage risks from natural hazards.
In 2014 JBA Risk Management won Catastrophe Risk Modeller of the Year at the London Market Awards.
Visit us at www.jbarisk.com.
Reseller Agreement
Risk Spatial’s reseller agreement includes providing JBA’s Global Flood Maps at 30m resolution for return periods of 1/20, 1,50, 1/100, 1/200, 1/500 and 1/1,500 years; for river flood and surface water flood. Countries included are: Australia, Bhutan, Brunei, Cambodia, China, East Timor, Fiji, India, Indonesia, Japan, Laos, Malaysia, Myanmar, Nepal, New Caledonia, New Zealand, Papua New Guinea, Philippines, Singapore, Sri Lanka, Taiwan and Vietnam.