Meet the Insurtech: Ocean Ledger

Understanding Ocean Ledger's New Coastal Data Solutions

A recent announcement from an insurtech called Ocean Ledger highlights its innovative approach to coastal flood risk assessment. The company has developed proprietary algorithms designed to analyze historical coastal data while also providing a real-time view of coastal flood risks. This information can help identify key impact drivers as well as potential resilience solutions.

What Ocean Ledger Offers

Ocean Ledger's algorithms focus on two main functions. First, they generate a comprehensive analysis of past coastal data. This helps create a clearer picture of how coastal areas have been affected by flooding in the past. Second, the technology offers insights into current flood risk, potentially enabling insurers, municipalities, and property owners to make better-informed decisions.

Impact on the Insurance Landscape

The introduction of these algorithms could have several implications for the insurance industry. Insurers often struggle to accurately assess risk in coastal regions, which can lead to unexpected losses. By providing detailed data about flood risks and associated drivers, Ocean Ledger aims to equip insurers with the tools they need for more accurate underwriting.

Additionally, the focus on resilience solutions suggests that Ocean Ledger is not only interested in risk assessment but also in promoting proactive measures to mitigate future losses. This dual approach could foster more sustainability in coastal development and insurance practices.

Who Is Affected?

The audience for Ocean Ledger's services includes insurers, local governments, and property developers focusing on coastal properties. By leveraging this technology, these stakeholders can enhance their strategies to address flooding challenges and protect their investments over the long term.

As indicated by the official announcement, Ocean Ledger's tools may be a valuable addition to the insurtech landscape, potentially leading to smarter risk assessment and improved resilience planning.

Original Source: https://www.dig-in.com/news/the-insurtechs-proprietary-algorithms-generate-historical-coastal-data-and-provide-a-current-view-of-coastal-flood-risk-impact-drivers-and-resilience-solutions