Willis Towers Watson launches Climate Diagnostic tool to enhance hazard modelling
Willis Towers Watson has launched a new global climate modelling tool called Climate Diagnostic.
Climate Diagnostic uses advanced data and analytics to model changes in acute hazards such as extreme wind and flood, and chronic stress factors like sea-level rise and heat stress, in various climate scenarios and time horizons.
The modelling shows how changes can impact specific properties, enabling clients to determine how best to mitigate risk across their property portfolios and key locations worldwide. It helps Willis Towers Watson’s clients respond to climate-risk disclosure requirements such as the Task Force on Climate-related Financial Disclosure (TFCD) and develop strategic responses to the climate transition.
It provides a climate change atlas of climatic and exposure maps with options to view high-risk areas, locate individual assets and identify the relative impact of each hazard, and adaptable time projections and climate scenarios to explore relative risk over time. It also provides summaries both at an aggregate level and broken out by region, time horizon or risk.
Climate Diagnostic forms part of Willis Towers Watson’s Climate Quantified product suite and is fully integrated into the broker’s core analytics platform of risk assessment and quantification tools.
John Merkovsky, global head of risk and analytics at Willis Towers Watson, said: “We believe that the more organisations learn about climate risk, the more they will see that the thinking, analytic techniques and tools that are required for this new future are familiar to risk managers today.”
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