Norwegian startup 7Analytics has joined forces with Fremtind to develop a model that provides new insight into stormwater risk, and how it proliferates alongside urbanisation and climate change.

"With more and more cases of torrential rain and other weather events that cause damage, it is of great importance for us to understand and price the products more precisely, and not least to propose preventive measures," said Pål Sætershagen, manager, real estate products at Fremtind. "The collaboration with 7Analytics helps us to become the market leader in climate risk."

Co-founder of 7Analytics, Jonas Aas Torland, added: "The collaboration with Fremtind has been a pillar of our investment in the insurance industry. Now the product will be even better and then we are happy that we have established a long-term customer relationship and collaboration with Fremtind.

"2023 was a record year for torrential rain, not just here in Norway. We see a growing need from a global insurance industry for deeper analyses. The flood database we have developed is initially built on top of Norwegian damage data, but with the power to solve global challenges."

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