In the current scenario, there are a lot of natural calamities where the importance of insurance has gained more attention than earlier and played a vital role for providing coverage against losses or damages. 

Challenges:

• It’s always a challenge to an Insurance company to fix upon a premium at an attractive rate by considering the risk of flood, quake etc.
•  Gathering the required data to estimate the risk is a tedious work
•  A drastic changing climate brings more challenges like keeping up with risk assessment up to date to an insurance company

Solutions:

We Satyukt help  insurance company by providing following key points

• Estimation of hazard for different return periods ranging from 10 to 250 years
• Providing a hazard level map for all of the above-mentioned return periods
• The information is available at a granularity of 90 m
• Model is validated against key historical events
• Analysis based on the latest available Rainfall data

In recent years Oman has encountered flood situations at least 2 to 3 times every year. These floods have caused tremendous damages to the properties and uphold the importance of insurance. In the above image, we are trying to depict the different risk zones across Oman.

To access your current flood situation data and the flood-impacted area statistics contact us to register in our portal and to find out pricing details at contact@satyukt.com. We will be happy to address all your exciting questions. In the meantime, have a look at satyukt.com for more information about us.