About Climate Mapping Services
Property Flood Risk Reporting Specialists
We are a team of professionals with decades of experience in Financial Services, Financial Institution Regulation and Engineering. Our skillset spans across: Capital management, Stress Testing, Climate Change Scenario Analysis, Modelling, Geocoding, Geo mapping and Data Analytics.
Using a Tier 1 flood risk data provider used extensively by the insurance and reinsurance industry, Climate Mapping Services has developed a property level flood risk reporting capability where individuals and businesses can search for their individual property address and obtain a detailed assessment of the river, surface water and coastal (storm surge and tidal) flood risk.
This is particularly useful to property buyers as often 2 properties in the same street or suburb can have very different flood risk profiles. Our recent study indicates that flood risk insurance premium for two identical properties within close proximity of one another can vary by up to $5,000 per annum or $150,000 over the course of a 30-year mortgage. Yet both properties will likely attract the same purchase price given property buyers often ignore or are unaware of the flood risk faced. In addition, legislation across the country continues to evolve, with Queensland Government recently introducing the Property Law Bill 2023. Once approved, Property Law Bill 2023 will prominently alert property buyers to the need to undertake their own due diligence on flood information. Read more about the proposed legislation change here.
Click here to obtain your property flood risk report.
Geocoding and Geospatial Experts
For larger clients (Banks, mining companies etc) we specialize in end-to-end climate mapping, modelling and analytics including:
- Cleaning of usually messy collateral address data and geocoding each collateral address in order to enable modelling of individual properties against different natural perils.
- Sourcing 3rd party natural peril raster data in order to assess institutions exposure against different natural perils. This includes: flood, storm surge, hail, cyclone, fire and other natural perils.
- Assessing the natural peril risk under different climate change scenarios. For flooding (surface water and river) we can assess the risk under RCP 4.5 and 8.5 for 2030, 2050 and 2080 and 5 SSP scenarios (SSP1-1.9, SSP1-2.6, SSP2-4.5, SSP3-7.0 and SSP 5-8.5) and 6 time periods 2030, 2040, 2050, 2060, 2080, 2100.
- We analyse the data and prepare a report that provides a view of where the institution’s natural peril risk lies enabling better risk appetite setting, pricing and decision making.
- Banks can set up an account within our property flood risk search application enabling them to obtain property flood risk reports on demand. This can be used by lenders to discuss flood risk facing that property with their customers at an interview stage of the loan process. In addition, provisions can be made to Banks capacity to repay calculators to take into consideration higher insurance flood risk premiums faced by customers that choose to buy properties that are subject to flood risk.
Financial Modelling Experts
Using the latest modelling, artificial intelligence and machine learning techniques, we have developed an industry outlook model that takes institutions business plan’s macroeconomic factors and uses those factors to predict performance of different industry sectors.
The model is flexible and can accommodate institutions own additional industry specific factors i.e., climate change transitional risk outcomes from climate change scenario analysis in order to price the impact of climate change on industry performance. The industry outlook score can then be embedded into risk grading tools enabling forward looking risk-based pricing.
If you would like to contact us for further information, please send us an email at: info@climatemappingservices.com
Acknowledgement of Country
Climate Mapping Services recognises the First Peoples of this nation and their ongoing connection to culture and country. We acknowledge First Nations peoples as the Traditional Owners, Custodians and Lore Keepers of the world’s oldest living cultures, and pay our respects to their elders – past, present and future.