How Climate Change Is Driving Innovation in Flood and Fire Risk Technology

The article discusses how climate change is increasing the frequency and severity of natural disasters such as floods and wildfires, prompting investment in advanced risk assessment technologies. It shares the story of Claire Sneddon, whose home in Nottingham flooded during Storm Babet despite assurances that previous flooding was a rare event. This incident underscores the need for better risk assessment tools.

The UK Environment Agency has updated its National Flood Risk Assessment (NaFRA) and plans to launch a portal for long-term flood risk evaluation. Companies like Climate X and Faura are using AI, satellite imagery, and predictive modeling to assess the impact of extreme weather on properties. In the U.S., real estate firms like Redfin now provide disaster risk estimates to homebuyers. The article emphasizes the importance of accurate climate risk data for homeowners, businesses, and insurers to mitigate future financial and emotional burdens.