Previsico Partners With Mitigrate on Flood Risk
The UK flood forecasting firm and Norway-based climate insurtech will offer a joint flood risk product to European insurers.
Updated on Nov. 11, 2026 in Forecasts
Previsico, a UK flood forecasting technology company, has entered a strategic partnership with Mitigrate, a Norway-based climate insurtech specialising in property risk analysis. The companies plan to introduce a joint flood risk offering to insurance markets in the UK, Nordic region and Europe.
Why it matters
The partnership pairs real-time, hyperlocal flood prediction with building-specific vulnerability assessments, aiming to help insurers anticipate and manage flood losses before they occur. It reflects a broader push by insurers to shift from paying claims after floods toward preventing and pricing flood exposure in advance.
The figure of more than 50 million European properties is a company-reported coverage claim from Mitigrate rather than an independently verified count. The source does not indicate how many of those properties are assessed for flood risk specifically, nor when the joint offering will reach insurance markets.
The players
Previsico
A UK flood forecasting technology company that provides real-time, hyperlocal flood prediction, a field in which it has been building its reputation for early-warning capability.
Mitigrate
A Norway-based climate insurtech firm specialising in property risk analysis and preventative measures, known for building-level vulnerability assessments across Europe.
The details
The partnership integrates Previsico's flood prediction technology with Mitigrate's building-specific vulnerability assessments and loss prevention recommendations. Mitigrate proposes flood protection measures together with estimated costs for buildings facing elevated flood risks, allowing insurers to weigh timing and location of potential flooding against likely consequences for individual properties.
Timeline
November 11, 2026: Partnership announced.
Forecast Integration
The partnership extends hyperlocal flood prediction, the kind of real-time forecasting used for public early warning, into insurance underwriting by attaching it to property-level loss data. Insurers can use that pairing to decide which buildings warrant detailed risk engineering before a flood occurs.
Property owners in flood-exposed areas of the UK and Europe may see flood risk assessments become a more common part of insurance underwriting. Reviewing a property's flood exposure and any recommended protective measures before renewal can help avoid coverage gaps.
The takeaway
Flood risk is increasingly being priced and managed before disasters strike, and combining real-time forecasts with property-level data points toward earlier, more targeted protection.
Further reading
Explore more Forecasts to see how flood and weather predictions are being applied to real-world risk decisions.
Source note: This article includes information reported by ReinsuranceNe.
