PERILS to provide flood footprints based on satellite data

PERILS AG, a European catastrophe insurance data provider, has launched a new project to provide satellite-based flood footprints during and after major flood events.

The Zurich-based company is working with the European Space Agency to provide the information. Industry participants will be able to download flood footprints from PERILS’ website. That information can then be used for rapid flood impact assessments.

The project involves participation from satellite operators, earth observation service providers and several companies in the insurance industry. It is supported by Allianz, EQECAT, ESA, Guy Carpenter, Munich Re, Swiss Re, SERTIT, Vista and Willis.

Depending on the scale and duration of flood events, high-resolution flood boundaries will be made available daily, while events are developing. After the event a map showing the maximum extent of the flooding during the entire event will be produced.

The flood footprint information will be available for free for the initial 12-month trial period.