JENOA adopts new tool for flood risk

Digital broker JENOA Insurance & Risk Management (JENOA) says it has adopted Global Flood Maps from RMS, a Moody’s Analytics company, to provide a view of flood risk “in the Middle East and beyond”.

The models have been developed using a machine learning approach that allows RMS to utilise its full probabilistic models in regions where the data typically required to accurately assess flood risk is either missing or sparse, JENOA said.

The flood maps enable a better understanding of flood risk across high and low exceedance probabilities, and allow users to understand, not only the locations that might be affected, but also the extent and severity of the flood risk.

Mahboob Khan, chief executive officer of JENOA, said: “The region has been exposed to an increasing number of natural catastrophes and we are working with our clients to proactively identify, quantify and develop strategies to mitigate this exposure. We are therefore proud to be a leader in the region to offer the RMS technology to our current and prospective clients.”

He added: “JENOA’s unique offering allows us to offer traditional London Market solutions while leveraging the latest technological advances in the reinsurance market. The RMS Global Flood Maps help us offer clients comprehensive insight into their Middle East flood risks.”

Jason Futers, managing director of RMS, said: “Flood is increasingly a primary peril in many regions across the globe. The new RMS Global Flood Maps cover the entire world, allowing clients to fully assess flood risk, wherever the risk might be. RMS is committed to supporting our clients’ risk management needs, across all regions and geographies. The unique combination of science and technology that RMS can offer ensures we can consistently deliver the information necessary to support risk management decisions.”