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7A for Insurers & Banks

Allows high-precision pricing based on a unique dataset for physical climate risk.

7A for Insurers & Banks

Imagine if you could price your products based on the actual climate risk. This is what you achieve with 7A for Insurers and Banks.

 

A unique dataset developed through two years of R&D collaboration with Fremtind Insurance activating data from their one million pluvial flood policies.

 

The 7A for Insurers & Banks model is built upon more than 250 parameters and trained on a vast database of flood damage data. The model is fully dynamic, with the ability to adopt changes in the landscape which are crucial to our risk understanding.

 

Data value

At 7Analytics we have extensive data processing capacity and a large database of proprietary data, which powers a range of key uses within banking and insurance:

 

Setting price

High resolution risk will enable competitive pricing of insurance and lending products ensuring sustainable client relationships and profitability.

 

Enterprise and credit risk

Granular assessment of flood risk for individual buildings allows enterprise risk management and bank’s credit functions to quantify physical climate risks on both client and portfolio levels.

 

Prevention

Based on long-term risk, a financial institutions can engage with the loan and insurance takers to reduce risk, ensure business continuity, and maintain asset value.

 

Compliance

Increasingly, regulatory reporting on sustainability requires banks and insurers to document physical climate risk and climate adaptation. 7Analytics’ solutions can provide a portfolio risk overview.

What some of our
customers are saying

  • Pål Sæterhagen, Head of Property Insurance at Fremtind

    «The collaboration with 7Analytics makes us market leading on physical climate risk.»

  • Tore Tenold, CEO of KLP Insurance

    «7Analytics’ innovative flood risk model nicely supplements our existing risk modelling and deepens our understanding of the risk landscape ahead.»

  • Håkon Hommerstad-Tveit, Head of Product, Data, and Analytics at JBF Insurance

    «Our collaboration with 7Analytics will not just improve our flood risk assessments but also actively prevent damage and protect our customers’ interests.»

Next step

Blindtest

To demonstrate the value of our data to your portfolio, we tailor light-touch proof of concepts called a blindtest.

 

This is a hassle-free opportunity for you to validate the relevance of 7A for Insurers and Banks:

 

  • Quickly verify data quality and suitability for integration with
    internal (pricing) models
  • No cost involved and limited workload on your data science team
  • Most importantly: Access data that increases underwriting profitability

Get in touch

Are you interested in learning more about 7A for Insurers & Banks? Please get in touch or request a demo.

Jonas Aas Torland

CCO & Co-Founder

jt@7analytics.ai

  • Press

    11.10.2024

    Insurance Journal: How Flood Risk Is Driving an Insurance Protection Gap in the US (op-ed by Helge Jørgensen, CEO 7Analytics)

  • Press

    04.10.2024

    Triple-I interview with 7Analytics: Is the US insurance industry stuck in the past when it comes to flood risk?

  • Article

    11.09.2024

    Insurance partnership to tackle accelerating flood claims

  • Press

    15.05.2024

    Forbes – 7Analytics Raises €4m To Help Insurers Manage Flood Risk

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