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Consumer Understanding

Lenders and insurers place reliance on consumers understanding what they can do to prepare for and respond to a flood. Our data and reports can inform and educate consumers.

What do we mean by Consumer Understanding and Consumer Duty?

Consumers form the base of the Financial Services Sector profile.  Consumers purchase retail financial products (such as mortgages and insurance) and are not considered expert users.  Therefore, consumers are given extensive protection through requiring financial sector firms to comply with the conduct of business rules. 

Overarching this (and a new requirement in 2023) is the Consumer Duty – PS 22/9. 

How does this relate to flood risk?

Climate risks such as flooding are highly relevant to consumers, for example, in relation to their properties which may be subject to a mortgage and for which they may purchase buildings insurance.  Improved risk data will identify these risks and assist in consumer understanding and the avoidance of foreseeable harm.

How can GeoSmart Information help?

Using our FloodSmart Analytics tool, GeoSmart can provide a report for an individual property outlining the potential risk of flooding to the property and what this means for the consumer.

Still have questions? Chat to our friendly team today

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We value the quality of all that we do as critically important and our team is goal oriented

4000+
Environmental Reports provided.
3 million+
UK property transactions used GeoSmart data.
15+
Utility and Public Service Providers used GeoSmart data.
£900Billion+
Value of properties advised on flood risk
I now purchase GeoSmart’s Groundwater Flood Risk maps regularly – always a very speedy response to the both the initial request and, more importantly, delivery of the data! Excellent customer service too. The data is clear and extremely useful for flood risk assessments.

Patrick Goodey

Calibro Consultants

“During the conveyancing process for my current house purchase, I was extremely concerned to find the general search results revealed the house was at ‘moderate risk of groundwater flooding’. I was unable to get any further information from anyone until I contacted GeoSmart. The staff I spoke to were friendly, helpful, efficient and extremely knowledgeable. The information provided was very site specific and focused. The staff member who talked me through the information and…

Linda Barton

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