Swiss Re has announced that Fathom’s flood hazard and terrain data are now integrated into its internal catastrophe models to enhance the reinsurance giant’s understanding of global flood risk.
Swiss Re said that since acquiring Fathom in December 2023, its team has been working to expand and harmonize Fathom’s core data sets to support the next generation of flood modeling.
As Fathom’s high-fidelity flood model is deployed in Swiss Re’s suite of risk data solutions, the ongoing collaboration is driving the systematic integration of Fathom data into Swiss Re’s underwriting and portfolio management activities.
The integration reportedly provides insurance and corporate customers with a wide range of risk assessment tools.
Current work includes creating a 50,000-year probability set of flood events, using AI-enhanced climate models to capture extreme scenarios and remove historical biases.
The new model will also integrate FathomDEM+, Fathom’s advanced global terrain dataset, to improve accuracy across geographic locations.
Balz Grollimund, Head of Cat Risk at Swiss Re, commented: “Combining Fathom’s flood hazard capabilities with Swiss Re’s catastrophe modeling and underwriting expertise allows us to further advance flood risk modeling.”
Fathom CEO Stuart Whitfield said: “Swiss Re’s use of our data in the development of its internal catastrophe models demonstrates how important peer-reviewed science and validated flood data are to understanding risks on a global scale.
“We are proud to work closely with Swiss Re to help communities and economies better prepare for and manage extreme flood events.”