The Asia InsurTech Podcast recently spoke with Dr. Avi Baruch, a co-Founder and COO of Previsico. Avi shared his insights on the important global issue of flooding, emphasizing its far-reaching impacts beyond just financial loss. He described how his journey from academia to entrepreneurship led to the development of innovative flood forecasting technology at Previsico. This technology, born from his team’s research at Loughborough University, aims to minimize the impact of flooding worldwide by providing early warnings and enabling preventative actions.
Avi also discussed how Previsico’s works with the insurance industry. He explained how Previsico’s approach complements traditional insurance by reducing the severity of flood impacts through strategic partnerships with insurers. This integration enhances insurers’ offerings, shifting their role from underwriting risks to actively helping clients mitigate them. Moreover, Avi highlighted the importance of real-time data from sensors in understanding and adapting to site-specific flood challenges, marking a significant step towards more effective flood risk management and a future where insurance transcends financial coverage to encompass active risk reduction.