Global advisory, broking and solutions company Willis Towers Watson announced today the launch of Climate Diagnostic, a new climate scenario modelling tool aimed helping organizations meet expanding climate-related disclosure requirements, and to develop a strategic response to the climate transition.
According to Willis Towers Watson, the new tool utilizes advanced data and analytics to demonstrate the impact of potential changes in acute hazards and chronic stress factors, including extreme wind, flood, rising sea levels and heat stress under multiple combinations of climate scenarios and time horizons.
The tool enables organizations to assess the impact of these climate factors on specific properties, enabling clients to determine how best to mitigate risk across their property portfolios.
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.”