REOR20 (Accelerator)

Company Description: REOR20 is a flood risk modelling company that enables insurers, governments and property owners to better understand their flood risk and deploy efficient damage mitigation efforts. Large scale flood models in use today by insurers and governments are heavily simplified due to the complexity involved in running models at large scales. This leads to a misleading and faulty representation of risk, particularly for urban flash flooding that has become prevalent in the last years. In the US for example, over 40% of flood losses are outside of the governmental FEMA flood zones. REOR20 addresses these shortcomings by combining Computational Fluid Dynamics and neural networks (AI technology) to produce high accuracy, high resolution flood models at scale. REOR20's product FloodWise brings these next generation flood risk models to the insurance industry. The focus is on enabling better risk selection through property-specific risk scores that reflect depth, force and duration of flooding. These risk scores can be embedded automatically in the underwriting process via an API, or serve as a basis deep-dive on high value, high risk properties that need a deeper understanding and de-risking measures. REOR20 is already piloting deep-dives on large commercial risks with a large US insurer, and are in discussions for design partnerships with large insurers in Australia and US for design partnerships to develop the automated risk scores.