AUSTIN,
Texas and LONDON,
April 29,
2024 /PRNewswire/ -- Synthetik has announced the
successful demonstration of their "Flood Data Collection and
Analysis" platform, Flowcore - an end-to-end tool for modeling of
flood scenarios and prediction of resulting damage and
financial/insurance losses. Flowcore incorporates Synthetik's
proprietary GPU-accelerated flood simulation code, and uniquely
leverages artificial intelligence (AI) to deliver results in
seconds on standard laptop systems – enabling measurement of
cumulative events or high-volume probabilistic analysis.
Synthetik Insurance Analytics announces
successful demonstration of AI powered flood modeling and analytics
tool.
Flowcore has undergone significant validation using real world
events and was used to recreate a flash flooding event in
Fort Lauderdale, FL from
April 2023 with virtually perfect
accuracy at unprecedented speeds.
Flowcore meets the Federal Emergency Management Agency
(FEMA) and National Flood Insurance Program's (NFIP) objectives of
better understanding historical flood impact, real-time analysis
and damage forecasting for future events across the country and
represents a step-change in scalability for physics-based flood
simulation. Flowcore is already being marketed and utilized by
Synthetik's partners in the insurance industry.
Josh Hatfield, Director of Research and Development for
Synthetik said:
'Climate change is rapidly and radically changing the
landscape of risk in climate-related events, so we are delighted
with the success of Flowcore and its potential to assist
public and private sector partners in understanding and predicting
flooding damage, and to help guide disaster mitigation efforts
across impacted communities.'
Synthetik COO Tim Brewer
commented:
'Flowcore joins our successful products for insurance
analytics based on the characterization of assets, perils and
vulnerability that deliver industry leading intelligence to
insurance companies and risk holders all over the world. We're
motivated to extend this framework to a wide-range of insurable
assets and perils including human and climate-based threats to
deliver on our mission of developing breakthrough technology for a
safer world.'
For all inquiries: Contact Synthetik Applied Technologies
PR info@synthetik.ai
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SOURCE Synthetik Applied Technologies