As natural disasters increase in occurrence due to climate change, Floodbase is addressing the uneven preemption times of insurers and government bodies by mapping and tracking potential floods through satellite imagery. Floobase uses the data collected to influence insurance claims and help communities prepare and respond to oncoming floods.
Founded by Masters students at Yale University, Floodbase’s prototype was supported by Google and quickly gained interest from investors due to its convergence of social and financial adaptation goals. Backed by several major low carbon investment firms, Floodbase’s photography has been featured on the front cover of major publications and its technology has been used by the United Nations to help improve disaster response times.
With plenty of capital behind it, Floodbase has little in the way of competition and is using its technical capabilities to develop new types of flood insurance for vulnerable communities.
Kirsty
Company Specialist at Welcome to the Jungle