Flowcore: Synthetik Insurance Analytics announces successful demonstration of AI powered flood modeling and loss prediction tool

Austin, TX (May 1, 2024) – 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.

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, please contact Synthetik Applied Technologies at [email protected].

About Synthetik

Synthetik is a fast-growing technology start-up based in Austin, TX. We create and develop breakthrough technology to mitigate the biggest threats to the world around us, including terrorism, extreme events and global environmental impacts.

Service Areas:

• Artificial Intelligence: Synthetik is uniquely skilled and experienced in the development, training and effective implementation of AI applications. We work with commercial clients and US government agencies to provide computer vision and machine learning expertise, including large-scale synthetic data generation. Synthetik is currently leading research with the U.S. Defense Advanced Research Projects Agency (DARPA) to fundamentally redefine how we process 3-D data using artificial intelligence. We are also supporting the U.S. Department of Homeland Security (DHS) by employing computer vision and deep-learning methods for automatic anomaly detection at speed, as well as working directly with NOAA and Microsoft AI for Earth to develop a low-cost entanglement mitigation system to protect endangered marine species.
• Insurance Technology: Synthetik provides state-of-the-art computational modeling to the global terrorism insurance market, working with the largest insurance companies to offer both consulting services and analytical tool development. Synthetik leverages its unique security engineering and testing experience gleaned from U.S. Department of Defense weapon effects programs to accurately quantify the actual losses, impacts, and business interruption associated with multiple perils related to explosive, fire, active assailant vehicle impact and chemical/biological threats. Our proprietary 3D cityscape and building CFD analytics platform – cityCORE – is also acknowledged as world leading.
• Modeling & Simulation: Synthetik provides world-class experience in the development of data science applications and first-principals-based modeling and simulation (M&S) codes.

For more information, visit www.synthetik-technologies.com.

SOURCE: Synthetik Applied Technologies

Tags: analytics, Artificial Intelligence (AI), flood, platform, predictive modeling