Willis Towers Watson expands climate offering with launch of new physical risk diagnostic tool

Rhea-AI Summary

Willis Towers Watson (NASDAQ: WLTW) has unveiled Climate Diagnostic, an innovative global modelling tool designed to assess climate risks such as extreme weather and rising sea levels. This tool aims to aid clients in mitigating risks across their property portfolios. Integrated into Willis Towers Watson's analytics platform, Climate Diagnostic provides flexible projections and detailed climate exposure assessments, catering to climate-risk disclosure requirements. The launch demonstrates Willis Towers Watson's commitment to enhancing organizational resilience in the face of climate change.

Positive

• Launch of Climate Diagnostic tool enhances risk assessment capabilities.
• Integration into core analytics platform strengthens client offerings.
• Provides valuable data for climate-risk disclosure compliance.

Negative

• None.

ARLINGTON, Va., April 13, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today launched Climate Diagnostic, a global modelling tool that utilizes advanced data and analytics to demonstrate changes in acute hazards such as extreme wind and flood as well as chronic stress factors like sea-level rise and heat stress under multiple combinations of climate scenarios and time horizons. The modelling shows how those changes can impact specific properties, enabling clients to determine how best to mitigate risk across their property portfolios and key locations worldwide.

Climate Diagnostic forms part of the wide range of products and services to manage climate risk through its Climate Quantified™ solutions. The tool is fully integrated into Willis Towers Watson’s core analytics platform of risk assessment and quantification tools that can enable clients to respond to a wide breadth of risk and improve organizational resilience. This model can help organizations respond to climate-risk disclosure requirements such as the Task Force on Climate-related Financial Disclosure (TFCD) and help them develop a strategic response to the climate transition. Other key features of Climate Diagnostic include:

• 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.
• Flexible and adaptable time projections and climate scenarios to explore relative risk over time and alternate climate conditions up to 2100.
• Summaries at an aggregate level and broken out by region, time horizon, and by acute and chronic climate risks.
• Industry recognized, data to project exposure for Representative Concentration Pathways (RCP) 2.6 – 8.5, gold-standard scientific climate projection scenarios based on greenhouse gas concentration.

John Merkovsky, Global Head of Risk and Analytics, Willis Towers Watson, said: “We are delighted to introduce this innovative modelling tool to clients. This tool provides visual representations of key locations influenced by climate change in the mid and long-term. This enables our clients to extend existing risk understanding, revolutionizing the way that they can review their future risk. We believe that the more organizations 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.”

Climate Diagnostic will be showcased at the pre-RIMS Willis Towers Watson Virtual Hub on 14 April at 2PM ET as part of our Climate Risk 101 event.
For more information please access: https://www.willistowerswatson.com/en-gb/Solutions/products/climate-diagnostic

ABOUT WILLIS TOWERS WATSON

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving in more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

Media contact

Sarah Booker +44 7917 722040
sarah.booker@willistowerswatson.com

Ileana Feoli +1 212 309 5504
Ileana.feoli@willistowerswatson.com         

FAQ

What is Climate Diagnostic launched by Willis Towers Watson?

Climate Diagnostic is a global modelling tool that assesses climate risks and aids clients in managing property portfolio risks.

How does Climate Diagnostic impact Willis Towers Watson's clients?

The tool helps clients understand climate risks, supporting better risk mitigation and compliance with climate-related disclosures.

What scenarios does Climate Diagnostic cover?

It offers projections for various climate scenarios and hazards, including extreme weather events and sea-level rise.

When was Climate Diagnostic launched?

Climate Diagnostic was launched on April 13, 2021.

What is the significance of Climate Diagnostic for WLTW investors?

The launch indicates innovation in risk management, potentially enhancing client retention and attracting new business, which could positively impact stock performance.