Covisiomap is designed to raise awareness among risk managers and help them manage their exposure. This digital solution makes it possible to carry out local diagnoses of all risks.

Climate risk modelling can be used to measure the degree of exposure of customer portfolios and implement prevention programmes. The Covisiomap digital solution is a market benchmark in this field.

Companies are looking for solutions to deal with major risks, particularly climatic risks. These risks are constantly on the increase and can have a major impact on their activities. To meet this demand, in 2012 Covéa launched Covisiomap for MMA underwriters and risk managers. This digital solution for visualising exposure carries out local diagnoses of all risks at the level of each building or plot of land, and reviews all of a company's exposures. The tool provides a map of the twelve main hazards to which companies are exposed. Constantly improved, it will be available in an international version in 2021. Covéa's teams have modelled all climatic and natural perils worldwide in order to provide global knowledge to the Group's customers, providers and employees.

A market benchmark

To achieve this result, which today makes Covéa the market benchmark for this type of modelling work, the Group had to mobilise a wide range of skills: geomaticians, CAT modelers*, hydrological engineers, climatologists, meteorologists, etc. "This multidisciplinary team carried out all the modelling work before developing innovative IT solutions", emphasises Benjamin Poudret, Head of Major Risks for the Covéa Group. 

Proposing prevention initiatives

Covisiomap's many functions (risk scoring, multi-hazard mapping, site geocoding, analysis functions, etc.) make it easy to carry out an in-depth analysis of exposures. The tool not only lists the risks at existing sites, but also identifies the best places to set up a new site. In the event of exposure, risk managers can suggest preventive measures to companies, such as raising stock levels or installing cofferdams to avoid the risk of flooding. More broadly, they can help customers to develop their Business Continuity Plans (BCP). "Ultimately, Covisiomap's ambition is to take things a step further by making it possible to alert our customers' risk managers to a major risk by means of an alert system and identification of potential damage," concludes Benjamin Poudret.

*CAT modeler = Catastrophe modelers, disaster modelling engineers