Climate Tech Success Story: How Mitigrate and Gjensidige Are Transforming Flood Prevention
In the Nordic insurance sector, an innovative partnership between climate tech startup Mitigrate and established insurer Gjensidige is showing how technology can address the growing challenges of extreme weather events. Following successful pilot tests, the companies have entered a three-year commercial agreement that's changing how flood risks are managed for property owners.
The collaboration combines Mitigrate's data-driven flood prevention platform with Gjensidige's extensive customer base and risk management expertise. Through this partnership, they're providing property-specific preventative measures that protect customers while reducing potential claims costs — creating value for all parties involved.
This case study explores how their approach enhances customer satisfaction while building climate resilience, offering practical insights for both the insurance industry and property owners facing increasing flood risks.
The Problem: Rising Costs of Climate Volatility
Extreme weather events and water damage have become increasingly costly for insurance providers like Gjensidige. Traditional reactive approaches to flood damage were failing both the insurer and their customers, with claim costs mounting and customer satisfaction suffering after devastating property losses.
The data tells a compelling story: properties in high-risk areas were experiencing repeated flood events, creating a cycle of damage, claims, repairs, and more damage. This pattern wasn't sustainable for either the insurance industry or property owners.
The Innovation: Preventative Technology with Data-Driven Precision
Mitigrate's solution tackles this challenge with a software platform specifically designed for climate risk management. Their technology assesses flood risk and provides property-specific preventative measures based on advanced data analytics.
After conducting two paid pilot projects to validate their approach, Gjensidige integrated Mitigrate's solution into their customer service to enhance support for at-risk clients. This implementation aligned flood prevention strategies with Gjensidige's sustainability and risk-reduction goals.
The Results: A Triple Win for Business, Customers and Climate Resilience
The partnership delivered measurable benefits across multiple dimensions:
Reduced potential claim costs by mitigating risks before damage occurs
Strengthened Gjensidige's ability to offer proactive, tailored risk prevention advice
Improved customer satisfaction by providing targeted solutions to reduce flood-related damages
As one Gjensidige representative noted: "Mitigrate has proven to be a valuable partner in our climate resilience strategy. Their data-driven approach enhances our ability to protect our customers and reduce financial risks."
Lessons Learned
The Mitigrate-Gjensidige collaboration offers several valuable takeaways:
Preventative measures significantly improve customer satisfaction and reduce long-term costs — proving that climate solutions can be good business
Data-driven insights are crucial for effective risk management — the more specific your solution, the more valuable it becomes
Strong alignment between corporate goals and innovative solutions drives successful partnerships — find the win-win-win scenarios
Gjensidige is now expanding the implementation of Mitigrate's solutions across more regions and exploring additional climate resilience strategies, showing the scalability of effective climate tech solutions.
For founders working in climate tech, the key insight is clear: solutions that prevent problems rather than just responding to them create multiple value streams that can transform industries.
