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    Date submitted
  • 03-Dec-2016

Climate.IQ/Property Climate Hazard

Abstract

Climate.IQ® is our software as a service under development. It will provide the necessary information to evaluate climate hazard(s) and forecast the cost of damage property by property across the U.S. It integrates satellite data, hydrological modeling, remote sensing technology and crowd sourcing to deliver a risk evaluation for each property. It starts with the release of its beta in early 2017 focused on flooding and hurricanes for New York City.

Video

Original Vimeo URL: Open

Introduction Video

Additional Questions

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.