Study Results from University of Waterloo in the Area of Information and Data Platforms Reported (Conceptualizing and Evaluating the Role of a Data Platform As an Entry-point for Strengthening Flood Risk Governance In Canada): Information Technology – Information and Data Platforms

2024 APR 26 (NewsRx) -- By a News Reporter-Staff News Editor at Information Technology Daily -- Current study results on Information Technology - Information and Data Platforms have been published. According to news reporting out of Waterloo, Canada, by NewsRx editors, research stated, “Only 18% of global flood losses experienced between 2011 and 2021 were insured. Governments are increasingly examining ways to transfer financial flood risks to the private insurance market.”

Financial support for this research came from Social Sciences and Humanities Research Council of Canada (SSHRC).

Our news journalists obtained a quote from the research from the University of Waterloo, “Flood insurance is widely recognized as an effective financial risk -transfer mechanism that helps societies efficiently recover from sudden and unexpected flood losses. However, flood insurance is often unavailable to high -risk properties via the private market. Insurers assert that access to better flood model data and sustained investment in flood damage prevention can foster flood insurance availability and affordability as risks can be more precisely evaluated and fewer damages result from flooding. This paper presents a conceptual framework for a data platform designed to reduce and manage the number of high -risk uninsurable properties through public -private datasharing. Drawing on survey results from municipalities and insurance companies, it assesses whether the conceptual data platform has a role to play in Canada. The study entailed participation of municipal officials representing 59 Canadian cities, and insurance professionals representing 7 insurance companies. Findings confirm there is appetite for both sectors to engage in crosssector data -sharing and that the conceptual data platform is perceived as a tool that could establish new forms of collaboration that can lead to changes in flood insurance availability in highrisk areas.”

According to the news editors, the research concluded: “Other countries experiencing insurance challenges with high -risk properties could benefit from testing the viability of the conceptual data platform in their context.”

This research has been peer-reviewed.

For more information on this research see: Conceptualizing and Evaluating the Role of a Data Platform As an Entry-point for Strengthening Flood Risk Governance In Canada. International Journal of Disaster Risk Reduction, 2024;103. International Journal of Disaster Risk Reduction can be contacted at: Elsevier, Radarweg 29, 1043 Nx Amsterdam, Netherlands. (Elsevier - www.elsevier.com; International Journal of Disaster Risk Reduction - http://www.journals.elsevier.com/international-journal-of-disaster-risk-reduction/)

Our news journalists report that additional information may be obtained by contacting A. Minano, University of Waterloo, Dept. of Geography and Environmental Management, 200 Univ Ave W, Waterloo, On N2L 3G1, Canada. Additional authors for this research include J. Thistlethwaite and D. Henstra.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1016/j.ijdrr.2024.104297. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

(Our reports deliver fact-based news of research and discoveries from around the world.)