Who is your customer?
Insurers of property liability, Federal government, municipal government, community organizations, property developers, rural & city planners, banks, realtors, individuals.
What problem does this idea/product solve or what market need does it serve?
Flood damage in the U.S. and the world is expected to reach $19 trillion per year by 2100. More than 1 billion people in the world live on the coast and up to 310 million of those live in a 100-year floodplain. In addition, a further, $11 trillion in assets sit below the 100-year flood mark. Climate.IQ has designed a web platform that provides a user with specific metrics on expected $ damage by property. It could be applied to many parts of the world to protect life and assets.
What attributes will make this idea/product successful? Why do you believe that those features will create success?
The innovation for Climate.IQ lie in data, algorithms, live feeds, crowd sourcing information & interface. The product is able to be current in its information. It also provides metrics on each property searchable by use & at different scales. The immediacy of the information & its full integration make it a valuable tool for many users. The metrics are understandable for a variety of user profiles.
Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?
The core of the execution is in the interdisciplinary nature & innovation of what is needed to design & build Climate.IQ. The science data team spend R & D days on sifting through countless pieces of information to combine the optimum accuracy for the location. The output involves a combination of climate science, data, big data, data visualization & metrics in $s. The main differentiator of Climate.IQ is the scale at which it works.