Insurtech Previsico secures Series A to expand live flood forecasting globally

Previsico Secures Funding for Flood Forecasting Expansion

UK-based InsurTech company Previsico has successfully raised a Series A funding round, led by CI, BlueOrchard, and several early backers. This funding will help Previsico enhance its live flood forecasting platform, aiming for growth in the US, UK, and various emerging markets.

Key Players and Financial Details

The Series A round saw participation from notable investors including CI and BlueOrchard. While specific financial figures were not disclosed, the investment reflects growing interest in technology that improves flood risk management.

Platform Benefits and Applications

Previsico's platform is designed to provide real-time flood forecasting, a critical tool for communities at risk of flooding. The technology can help insurers, businesses, and local governments make informed decisions to mitigate flood damage. It significantly enhances the ability to predict and respond to flooding events, potentially saving lives and property.

Target Markets and Future Plans

With this new funding, Previsico plans to expand its services beyond the UK’s borders, targeting markets in North America and parts of Asia, where flood risks are increasingly severe due to climate change. By scaling its technology, the company aims to support a broader range of clients and communities vulnerable to flooding.

Industry Implications

This investment signals a trend toward integrating advanced technology in risk assessment within the insurance sector. As climate-related events become more frequent, tools like Previsico's forecasting system may become essential for insurers and governments alike. The impact could lead to more proactive and informed responses to flooding challenges globally.

Overall, Previsico's expansion plans could represent a notable step forward in flood risk management technology, addressing a pressing need as climate scenarios evolve.

Original Source: https://beinsure.com/news/previsico-secures-series-a/