Globally, flooding is in terms of economic losses and loss of lives one of the most significant types of natural disasters. Drivers like population growth, urbanization and climate change are considered to lead to an increase of flood risk. Models can provide estimates about flood risk by representing it as the product of the three elements hazard, exposure and vulnerability. Vulnerability, however, is poorly represented in large-scale flood risk models. Focusing on both the estimation of economic damages and mortality, this PhD research aims to develop improved incorporation of the vulnerability aspect into a global scale flood risk model.