Willis Towers Watson launches innovative analytical tool to address environmental risk
Willis Towers Watson (NASDAQ: WLTW) launched HEAT (Holistic Environmental Analytical Tool), an innovative tool designed to manage environmental risk effectively. HEAT uses proprietary analytics to visualize risk data from multiple exposure platforms, helping clients identify and prioritize environmental hot spots. This new product aims to enhance risk management decisions through comprehensive data analysis, benefiting clients in various industries. The introduction of HEAT positions Willis Towers Watson as a leader in environmental insurance broking, offering distinct advantages in risk differentiation and management.
- Launch of HEAT establishes WLTW as a leader in environmental risk management.
- HEAT enhances clients' ability to make informed risk management decisions through data analytics.
- The tool complements existing risk programs, facilitating comprehensive risk assessments.
- None.
ARLINGTON, Va., Oct. 12, 2020 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced the launch of a new environmental analytical tool, which was developed to help manage environmental risk. HEAT, which stands for Holistic Environmental Analytical Tool, uses proprietary analytics to convert data from various exposure platforms into a comprehensive, user-friendly visualization of risk, thus empowering users to identify, score and prioritize environmental “hot spots” quickly.
“This new product gives our clients the power to make informed risk management decisions supported by data, analytics and modeling while also complementing loss control and efficient risk management strategies,” said Brian McBride, head of Environmental Broking, Willis Towers Watson.
HEAT has risk scoring calculations based on several factors, such as operational, historical and locational risk; surrounding properties; industry class; compliance; jurisdictional litigation; climate; and environmental regulatory information. The tool works in conjunction with risk management teams to complement existing risk programs and make informed decisions supported by data, analytics, modeling and risk scoring. HEAT also differentiates risk to underwriters, demonstrating a focus on risk management, exposure identification and prioritization, and loss control.
“HEAT offers a compelling way to differentiate risk and achieve reliable risk management results backed by analytics,” added Jim O’Connor, head of Middle Market Broking Solutions and Specialty Broking. “Being the first tool of its kind in the environmental insurance broking arena, it further establishes our position as the analytical broker. This is a true differentiator in our industry, and we are thrilled with what this team has developed.”
For inquiries related to HEAT, please contact HEAT@willistowerswatson.com.
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 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.
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