Pilot 2
Addressing gaps in insurance cover for soil stability risks
Pilot lead: 2DII
This pilot addresses homeowners and the risks associated with clay soil shrinkage and swelling. There is currently a significant challenge with the lack of understanding regarding the potential financial implications associated with this hazard. This phenomenon poses a substantial threat for homeowners as it has the potential to destabilise buildings and their foundations, causing structural damage - even beyond repair. The risk is increasing rapidly due to climate change, and it can potentially lead to large financial losses for homeowners where there are gaps in insurance cover. Our goal is to create an online dashboard that educates and empowers homeowners to manage their financial risks effectively from gaps in insurance cover.
- During PIISA, our main objectives are the following:
- Develop a methodology for assessing potential financial losses in the event of a clay soil shrinkage event occurring.
- Design a web dashboard to educate homeowners in relation to their insurance cover that employs the above-mentioned methodology.
- Create a guide for homeowners on how to prepare for and advocate effectively during their next appointment with their insurance advisor to ask for adequate insurance coverage.
The dashboard development process begins in Lyon, France, where we will collaborate closely with local authorities and homeowners. Lyon serves as our starting point, and from there, we will expand our efforts to broaden our scope to other EU countries. We will also evaluate the applicability of the dashboard to the Boreal region and/or the Mediterranean region. As we progress to the last innovation round, which includes cities like Helsinki, we will organise workshops with city authorities and planners to refine and implement the concepts we have developed. Our overarching objective is to address at least 2 cities with a population exceeding 300,000 inhabitants.
This pilot will result in a web application and accompanying guide. The web application will be tested to assess user experience and the ability of end users to understand messages conveyed and make decisions on insurance. Its replication will be tested in other contexts and locations facing similar soil-related hazards.