Introduction to the New Flood Model
JBA Risk Management, a specialist in flood risk assessment based in the UK, has introduced a cutting-edge inland flood model specifically for Australia. This launch comes in response to an increasing demand for precise flood insights within the insurance and risk management sectors. Flooding, historically considered a secondary peril, has rapidly escalated as a pressing concern for the insurance industry.
Recent Flood Events and Insurance Claims
In recent years, significant flood events have afflicted regions like New South Wales and Queensland. Notably, on March 8, 2025, ex-Tropical Cyclone Alfred struck Australia’s east coast, leaving extensive destruction in its wake. The Insurance Council of Australia reports that insurers have received over 22,000 claims from policyholders in southeast Queensland and northern New South Wales as a direct result of this event.
Model Features and Coverage
JBA’s newly-developed model offers detailed 5-meter flood data coverage for major urban centers such as Sydney, Brisbane, and Melbourne. It maintains a consistent 30-meter resolution across other regions of the country. This model integrates both physical and statistical methodologies to evaluate pluvial and fluvial flooding caused by tropical and non-tropical storms.
Building upon JBA’s high-resolution flood maps, which are already in use by nearly half of the Australian insurance market, the new model aids in making informed, risk-based flood decisions. By employing fully hydro-dynamically modeled flood maps, JBA ensures a highly accurate depiction of floodwater behavior across varying terrains.
Advanced Modelling Techniques
The model incorporates the latest in 2D hydraulic modeling, terrain data, channel capacity, sea level science, and flood defense information. Furthermore, it offers forward-looking insights into potential changes in flood risk and associated losses projected for the years 2050 and 2080, based on climate scenarios RCP4.5 and RCP8.5. A unique sensitivity analysis tool is included, allowing users to explore various ‘what if’ scenarios.
Technology and Accessibility
Developed using Oasis-enabled technology, this model is fully customizable, allowing users to dynamically create models utilizing event sets, hazards, and vulnerabilities in real-time. It is accessible via NASDAQ’s NMRC platform and IF Elements.
Market Feedback and Future Prospects
Mansi Kalra, Managing Director at JBA Risk Management, stated, “Our Australia Flood Model, complete with the new sensitivity tool, is a first for the Australian market. It delivers comprehensive coverage and insights at an unprecedented level of detail, enabling our users to better assess climate change impacts on flood risk for improved portfolio planning, capital management, and regulatory compliance. Feedback from the market has already been extremely positive.”
James Knight, Head of APAC, View of Risk Advisory at Aon, commented, “JBA’s local flood solutions empower our clients to make more informed decisions regarding flood risk. This is particularly critical in urban centers that host the largest aggregations of flood-prone properties. We find that the model’s expectations of the floodplain align closely with some of the major observed flooding events we have experienced locally in recent years.”
Stephen Lau, Principal at Finity, added, “Flooding represents a substantial hazard risk in Australia and New Zealand, with several flood catastrophes impacting numerous communities in recent years. Consequently, sectors such as insurance, banking, corporate, and government rely on Finity for guidance on understanding, underwriting, managing, and mitigating flood risk: for this purpose, JBA’s high-resolution flood models are invaluable. We eagerly anticipate the launch of JBA’s Australia Flood Model, which will provide even deeper insights for our clients by offering a consistent view of risk across the entire risk transfer chain.”
