Scout InsurTech Interview with 7Analytics

 7Analytics is a climate-risk intelligence company using advanced data science to help insurers understand and prepare for the increasing impact of flooding. While covering all flood types, their specialization is dense urban & inland (pluvial) flood modeling. 

Their data output helps bridge current knowledge gaps in conventional catastrophe models as rainfall patterns are changing and the urbanization trend continues. 

By delivering precise, hyper-local insights, 7A enables carriers, MGAs and brokers to both make smarter underwriting decisions and improve risk-reflective pricing, as well as protect communities with greater accuracy. 

Scout InsurTech’s Chris Luiz sat down with CEO and Co-Founder, Helge Jørgensen, to learn how 7Analytics is reshaping environmental risk modeling for the insurance industry.

Who are your clients?

We work with insurers, banks, asset owners, and public institutions. Essentially, any organization that needs a clearer understanding of its flood risk exposure fits within our customer profile. Our current clients are located across the United States, Europe, and Australia.

What does your product do? 

We produce highly precise, property-level flood risk data. By combining our market-leading 1x1m (3x3 ft) geospatial resolution with machine learning trained on insights from a large amount of real flood claims, we provide risk scoring capturing the inherent vulnerability of every building (both PL+CL).  

Additionally, we have built our underlying flood hazard maps to integrate with short-term weather intel, meaning we also provide an early warning forecasting system predicting site-specific flood depth and duration several days ahead. 

This is already in use directly by asset operators like TotalEnergies, utilities, hospitals and retailers, enabling loss-preventive actions and predictive event response. It also has potential application for the insurance industry in both claims management and parametric.

How much capital have you raised? 

We have raised approximately $9 million in total equity funding. Our most recent raise was a $5 million seed round in the summer of 2024, where, among others, IAG, the largest insurance group in Australia, joined us as both an investor and partner.

Was the company born from within or outside the industry? 

7Analytics began outside the insurance industry. The company was created by four founders with a background from the Norwegian oil and gas sector who specialize in hydrology, geology, and geomathematics and knew each other well as colleagues. Their expertise in modeling how fluids move across both the surface and subsurface of the earth directly informed the core approach. While initially focusing on flood analytics for the construction and real estate sector, a development project was launched early on, collaborating with Fremtind Insurance, the largest residential property insurer in Norway.

What growth metrics have you accomplished over the last 12 months? 

After 3+ years of R&D with Fremtind, the insurance-specific offering was gradually launched commercially throughout 2024, with the Nordics early in the year and US in the second half. Currently, 7A has 40+ customers across the full product suite and active markets.

Within your domain, what is the current challenge that the industry is facing? 

The industry is facing a growing disconnect between conventional catastrophe models and the actual behavior of flooding events. Rainfall patterns are shifting due to climate change, with regions and areas that historically have seen few events now regularly experiencing sudden and intense precipitation.

No hurricanes made US landfall this season, but 2025 has still been recognised as “the year of the flood” due to the record number of non-hurricane heavy rainfall events. 

At the same time, continued urbanization is altering how excess water impacts the built environment, increasing overall vulnerability. We are paving over permeable ground and continue to build in high risk zones, causing surface water flooding (pluvial) to be the biggest driver of the overall growth in loss. 

Underlining this, around 40% of NFIP claims occur outside of FEMA high-risk zones, which only map river flood risk. In addition, a study from NC State found that 85% of direct economic damage between 2007 and 2020 occurred outside the high-risk zones. 

Pluvial is also the most computationally difficult to model, particularly at the individual building-level and in areas without an extensive historical record, creating large blind spots.

How does 7Analytics take a unique approach to providing value? 

We have focused on filling the knowledge gaps by adding new insights, particularly into property-specific and dense urban risk. 

We evaluate hundreds of land-use and topographic parameters for every square meter and connect the info to individual building footprints. This methodology, combined with our ability to efficiently scale and frequently update the models for built world changes, is already proven to add new info in the markets we currently operate in. 

The flood claims database used for model training is also among the largest and most precise in the industry. It is shared by our existing clients and partners, and we have, in addition, used various techniques to further clean the data for legacy errors. As far as we know, the combination of database scale, quality and usage is unique to 7Analytics.

A bigger problem can similarly be a market opportunity. As flood insurance uptake rate increases from historical low levels and the NFIP gradually re-prices, we believe the private providers have a strong growth outlook. With the right data, we also believe this can be sustainably profitable growth.

Neptune Flood, a leading private flood insurer who recently went public, exemplifies this. Since inception in 2016, they have managed a 25% loss ratio, even though around half their written policies have been located in FEMA high-risk zones.

Neptune credits these results, among others, to their granular risk selection capabilities. Our data output is tailored to support insurers along the same lines. We often find big differences in the risk profile of properties just across the same street. 

What inspired the team to start this company? 

7Analytics was founded in the city of Bergen, Norway. Bergen is known as “the city between the seven mountains” and interconnected for being the rainiest city in Europe. As the founding team includes backgrounds from both oil&gas fluid modelling, data science and GIS-analytics in construction planning, flood risk became a natural next step as it has been a big and growing problem in Norway for many years.

Can you share any goals for the next 12 months? 

We are working to advance several major milestones. One priority is converting the double-digit proof-of-concept engagements we currently have in the United States into full commercial deployments. We expect to announce our first US insurance partnerships in the not-too-distant future, which will be a significant achievement for the company. We will, in parallel, continue our expansion across Europe and Australia, and are hopeful of also starting to support parametric products during 2026. Beyond insurance, we target meaningful growth in the footprint of our early warning system towards asset owners, both commercially and geographically. 

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