Abstract. Flood loss models are increasingly used in the (re)insurance sector to inform a range of financial decisions, and more broadly in research and policy analysis to understand present-day and future flood risk trends. These models simulate the interactions between flood hazard, vulnerability and exposure over large spatial domains, requiring a range of input information and modelling assumptions. Due to this high level of complexity, evaluating the impact of uncertain input data and assumptions on modelling results, and therefore the overall model “acceptability”, remains a very complex process. In this paper, we advocate for the use of global sensitivity analysis (GSA), a generic technique to analyse the propagation of multiple uncertainties through mathematical models, to improve the sensitivity testing of flood loss models and the identification of their key sources of uncertainty. We discuss key challenges in the application of GSA to large-scale flood loss models, propose pragmatic strategies to overcome these challenges, and showcase the type of insights that can be obtained by GSA through two proof-of-principle applications to a commercial model, JBA Risk Management's flood loss model, for the transboundary Rhine River basin in Europe, and Queensland in Australia.
Pianosi et al. (Wed,) studied this question.