ZELDA ELS: Tech to help insurers track climate risks
Santam is developing a geocoding method of pinpointing properties at risk from fire and flood as severe weather becomes the new normal
14 April 2024 - 05:45
Mitigating the increasing effects of climate change has become a top priority for South African insurers who have collectively paid billions of rand in related damages over the past five-10 years.
The increasing frequency and severity of weather events such as heavy rainfall and resultant flooding threaten the sustainability of insurers. which must protect the integrity of their balance sheets to continue paying claims for years to come. Harnessing the power of technology and geospatial data (including geocoding) offers a solution to reducing this risk and ensuring the longevity of cover...
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