US start up offers storm-safe solutions

COASTAL Risk Consulting creates cloud-based technologies to help a billion coastal residents in the US and around the world get climateready and storm-safe.

It’s easy to see a need for this South Florida tech start up’s service, especially when a recent torrential deluge flooded dozens of homes and businesses in the Miami area. individual property’s vulnerability technology. Clients include the cities of Miami and Miami Beach, the villages of Key Biscayne and Pinecrest, the Cleveland Clinic, TetraTech, Battelle, Atlantic Broadband, Grey Door Luxury Homes and others. The start up is raising capital for expansion.

Stanley Young, president of Grey Door Luxury Homes in Fort Lauderdale, hired Coastal Risk Consulting to undertake a study of a home his company was building on a street prone to flooding. Coastal Risk provided him with a report that demonstrated through its flood models that the new elevation of the home meant that it would not be affected by potential/ predicted sea- level rises in the next 50 years, Young said.

“They are riding on the wave of current media attention to the risks of climate change. They have a very practical tool that can be used to assess the economic and socioeconomic risk of climate change,” Young said. “I think the work they do is critical for us all to gain a true understanding of the risks of climate change.”

Coastal Risk Consulting’s innova for the banking, insurance and real estate markets, but all three markets have been slow to adopt propertyspecific flood risk modeling for differing reasons, Slap said. “It has been a challenge for our startup to bring to these markets a fuller understanding of the benefits of risk modeling.”