2026-07-30 · Source: Reinsurance News
Summary in 3 Points • Previsico expands into South Africa with flood forecasting technology, supported by InsuResilience Investment Fund • The technology uses IoT sensors and hydrodynamic modelling to provide 48-hour flood warnings • Insurers like Zurich and Liberty, and brokers Marsh and Lockton, utilise Previsico's technology globally --- UK-based flood intelligence specialist **Previsico** has announced its expansion into the African market, starting with South Africa, as part of its international growth strategy. The initiative is supported by a grant from the **InsuResilience Investment Fund**, managed by **Blue Orchard Finance Ltd**. Previsico's technology, which offers property-level flood forecasting based on research from Loughborough University, is already in use across the UK, Europe, and the Americas. The system combines high-resolution LiDAR data, drainage network information, land use mapping, and real-time weather data, validated by an **Internet of Things (IoT)** sensor network, to provide flood warnings up to 48 hours in advance. The first phase of the South African programme was completed in Durban, with plans to extend coverage to other high-risk areas such as the Cape and Johannesburg. For the **London Insurance Market**, Previsico's expansion into South Africa presents opportunities for insurers and brokers to improve their flood risk management capabilities in emerging markets. The involvement of major insurers like **Zurich** and **Liberty**, along with brokers such as **Marsh** and **Lockton**, shows the potential for London-based firms to adopt advanced flood forecasting technology. This development is particularly relevant for property and casualty lines, where accurate flood predictions can significantly mitigate potential losses. As global flood losses are projected to reach USD $850 billion by 2050, the demand for precise forecasting tools becomes increasingly critical for risk management and underwriting. **Underwriters** and **brokers** in the London Market should consider integrating Previsico's flood intelligence technology into their risk assessment processes, particularly for clients in flood-prone regions. The use of **IoT** sensors and hydrodynamic modelling offers a competitive edge in providing timely and actionable insights. **Risk managers** can benefit from the enhanced data to develop more effective flood resilience strategies, reducing the impact of severe weather events on communities and businesses. As the technology becomes more widely adopted, it may also influence the pricing and structuring of flood insurance products, offering new avenues for growth and innovation in the market.
For the London Insurance Market, Previsico's expansion into South Africa presents opportunities for insurers and brokers to improve their flood risk management capabilities in emerging markets. The involvement of major insurers like Zurich and Liberty, along with brokers such as Marsh and Lockton, shows the potential for London-based firms to adopt advanced flood forecasting technology. This development is particularly relevant for property and casualty lines, where accurate flood predictions can significantly mitigate potential losses.