Innovation Driven by Flooding

7Analytics showed participants in our growth program, how they tackle flood risks with cutting-edge tech! From Bergen to the U.S., they’re helping insurers stay ahead with flood predictions for smarter coverage.

Climate change is bringing an increasing risk of floods and the potential for widespread damage – a reality we’ve seen in recent events around the world.

Urbanization is a Hazard

Urbanization is further compounding flood risk. As green spaces are replaced by infrastructure, water that would normally be absorbed into the ground now runs off hardened surfaces, exacerbating flooding.

Recognizing this, insurance companies struggling to manage flood risk are increasingly turning to 7Analytics for solutions.

Our group of eight companies has brought their growth projects to The Martin Trust Center for for MIT Entrepreneurship in Boston this week for our growth program, and today, we heard from 7Analytics.

Founded in 2020 in Bergen Norway, 7Analytics has grown swiftly with a focus on predicting flood risks.

The company, launched by four geologists, received early support from angel investor and Chairman of the Board, Bjarte Fagerås, who also serves as a mentor in our growth program. Fagerås has been a key supporter for 7Analytics on their journey.

Predicting Flood Risk

7Analytics’ flood risk prediction, is already being used by around 40 clients, including several major insurance companies.

Helge Jørgensen, Co-founder and CEO explained how their solution stands out.

Using a detailed model with 250 physical parameters, they analyze the flood risk exposure of individual buildings. This customized analysis helps insurance companies price policies more accurately for properties in high-risk areas.

Growing in the U.S.

First step into the U.S. market was through their partner StormGeo. - a weather intelligence company.

With them, they are combining Storm Geo’s meteorology-tech with 7Analytics’ real-time flood-tech predictions for providing key insight for flood risk at specific locations 3-days before the storm hits the locations.

Jørgensen recently relocated to the U.S. to launch 7Analytics’ first office there. He stated the importance of being "on the ground".

– It’s a bit naive to think you can tackle the U.S. market from Bergen, he said.

Customer Focus as a Growth Strategy

A central takeaway from 7Analytics’ presentation was the importance of identifying the end customer – a lesson that aligned perfectly with what Professor Bill Aulet taught us earlier in the day at MIT.

For 7Analytics, investing early in brand-building has been essential.

Through thought leadership in articles and appearances on podcasts like BBC, Forbes Insurance Journal and Techcrunch, they position themselves as experts in climate intelligence, building market trust and attracting customers who value flood risk prevention.

A Model of Growth for Future Scale-ups

7Analytics exemplifies how tech-driven innovation can open new markets. Their U.S. expansion, coupled with a clear focus on customer identification and brand-building, provides an inspiring model for growth and scalability.