Willis unveils risk analytics suite

Broker Willis has unveiled a new suite of analytical tools aimed at helping companies proactively manage risks.

The analytics, which are part of the first wave of Willis’ core analytics tool suite, cover natural catastrophe risk, cyber risk, directors and officers liability risk and casualty related losses.

According to Willis, the interactive tools will help firms “increase their understanding of risk and support risk management decisions grounded in company-specific data and industry-leading analytical principles”.

Willis said that one of its tools, the global peril diagnostic, is the first in the industry to take a global view of an organisation’s property portfolio. Unlike traditional models, where property risk is evaluated through a siloed approach measuring exposures based on either geography or individual perils, the model provides a risk evaluation/scoring platform for the entire portfolio.

John Merkovsky, group head of risk and analytics, said: “We’re proud to launch these innovative solutions into the marketplace and support Willis’s position as the analytical broker. Organisations today are facing a rapidly evolving set of risks and risk professionals demand dynamic and innovative tools to diagnose exposures in real time and with analytic exactitude.

“Willis is committed to understanding our clients’ businesses and delivering risk consultation that is grounded in technical principles.”

Ben Fidlow, global head of core analytics, added: “Each of these models brings a differentiating view of risk never before offered in the risk management space. We see this as a big step in the evolution toward analytical engagement that many of our sophisticated clients have been waiting for.”