Parametric Flood Cover Triggering With Grid-Based SAR Measurement
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Solution Overview
Problem
Existing systems lack reliable and automatable methods for predicting and mitigating flood risks, leading to inadequate risk-transfer and insurance coverage, particularly due to the unpredictable nature of flood events and challenges in spreading risk across a wide enough group of objects.
Innovation Solution
An automated system using Synthetic Aperture Radar (SAR) and drones to divide areas into grid cells, measuring flood impact, and triggering dynamic parametric flood impact covers based on flood measurements, with adaptive damage-cover structures and AI/ML for precise risk assessment and automated payment transfer.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If traditional insurance models are used for flood risk coverage, then coverage can be provided, but the system lacks real-time adaptability and cannot dynamically adjust to changing flood risks
Solution Approach 1:
The patent implements dynamic coverage adjustment by continuously monitoring flood risk parameters (water level, flow rate, duration) and automatically modifying insurance coverage terms in real-time. The system transitions from static pre-defined coverage to dynamic coverage that adapts to actual flood conditions, allowing coverage limits, deductibles, and coverage activation to change based on measured risk levels.
Solution Approach 2:
The system establishes a closed-loop feedback mechanism where flood risk measurements are continuously fed back to the insurance system. This feedback loop enables the system to adjust coverage based on actual risk conditions, creating an adaptive insurance model that responds to real-time environmental data and automatically modifies coverage terms accordingly.
2Productivity
If manual assessment and underwriting processes are used, then detailed risk evaluation can be performed, but the process is time-consuming and cannot keep pace with rapid environmental changes
Solution Approach 1:
The patent replaces manual mechanical assessment processes with automated digital systems that continuously monitor flood risk parameters. The system uses automated sensors, remote sensing technology, and digital processing to assess risk in real-time, eliminating the need for manual field assessments while maintaining or improving measurement precision through continuous digital data collection and analysis.
Solution Approach 2:
The system implements continuous risk assessment through uninterrupted monitoring of flood parameters. Rather than periodic manual assessments, the system maintains continuous observation and evaluation of flood risk conditions, enabling real-time detection of changes and immediate response. This continuous action ensures the system always has current risk information without the delays inherent in periodic manual reviews.
3Adaptability or versatility
If fixed insurance policies are issued, then policy simplicity is maintained, but the policy cannot adapt to varying flood risk conditions over time
Solution Approach 1:
The patent segments the insurance policy into modular components that can be independently adjusted based on flood risk conditions. Rather than a monolithic fixed policy, the system divides coverage into separate parameters (coverage limits, deductibles, activation conditions) that can be individually modified. This segmentation enables flexible adaptation to varying risks while maintaining overall policy structure and simplicity.
Data Source
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AI summary
The invention relates to automated method (1) and flood measuring and trigger system (1)for providing a dynamic parametric flood impact cover (1031) for physical objects (3/31) being measurably impacted by an occurrence (41/42/43) of a flood event (4) by using an adaptive damage-cover structure (1041) of a damage-cover system (104) based on physical flood event measurements, wherein by flood detection devices and/or flood sensors (102), an occurrence of a flood event (2) is measured by measuring floodings within the grid cells (1003) of the spatial grid (1002), wherein flood measuring parameters (1021) of the flood detection devices and/or flood sensors (102) are transmitted to the central measuring engine (10) and wherein, based on the transmitted flood measuring parameters (1021), grid cells (1003) measured as flooded are contributing to the area measured as affected (21) while grid cells measured as not flooded are contributing to the area measured as not affected (22).