Flooding is unpredictable and dynamic, with water levels changing rapidly due to rainfall, terrain, and local infrastructure conditions. Just in 2024, global economic losses due to flooding reached $84 billion. Traditional solutions often fail to address the real impact at a specific location, as they typically rely on broad damage estimates and delayed assessments. The reality on the ground can vary dramatically, making localized, real-time data critical for both response and recovery efforts.
Beyond the immediate damage to property and infrastructure, flooding disrupts lives, economies, and ecosystems. It can lead to prolonged business closures, displacement of communities, and contamination of water supplies. In regions with limited resources or inadequate flood management systems, the consequences are even more severe.
As climate change intensifies weather patterns, flooding events are becoming more frequent and severe, underscoring the need for innovative risk assessment tools and responsive insurance models that can adapt to these evolving threats. Our Flood-at-Location solution leverages cutting-edge on-site sensor technology to provide precise, real-time flood data that ensures payouts reflect the actual flood depth at an insured property.
How it Works
- The water depth is measured and reported in real time by an on-site sensor.
- If a measurement reaches the preagreed flood depth threshold, thus indicating a flood event, a payout amount is computed based on the predefined payout structure.
- The client receives compensation a few days after the event, ensuring rapid access to liquidity.
Why Choose Descartes’ Parametric Flood Insurance?
✔️ Accurate Loss Assessment for Fairer Compensation:
Our high-precision on-site sensors ensure reliable and objective flood measurements, enabling accurate loss evaluation and protecting you from disputes or delays.
✔️ Rapid Payouts to Minimize Downtime:
With real-time data captured directly at your location, you receive fast, automatic payouts when thresholds are met—no need for lengthy claims processes.
✔️ Reliable Coverage in All Conditions:
Our contactless radar-based sensors perform consistently in harsh weather and varied water conditions, ensuring your coverage remains dependable when you need it most.
Download our product sheet (PDF) to:
- Learn more about our cost-effective Flood-at-Location solution, relevant locations and industries, quote requirements, and more.
- View an example payout structure.
- Discover more details about the product in our Frequently Asked Questions section.
