Willis Towers Watson Tool Tracks Pandemic Cases Against P&C Clients’ Assets

The new feature available with Willis Towers Watson’s Global Peril Diagnostic tool lets risk managers can assess their COVID-19 property exposure in real time.

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Willis Towers Watson (Arlington, Va.), a global advisory, broking and solutions company, has launched a new, real-time, risk and analytics feature as part of its Global Peril Diagnostic modeling tool. The new feature provides up-to-date information on confirmed global COVID-19 cases alongside clients’ property total insured values by location, according to the company. Willis Towers Watson says that the feature enables clients to easily track developments of the pandemic set against their property assets around the world.

Ben Fidlow, Global Head of Core Analytics, Corporate Risk and Broking, Willis Towers Watson.

Willis Towers Watson describes its Global Peril Diagnostic tool as a sophisticated risk and analytics model that evaluates clients’ property portfolios and assesses their exposure to comprehensive catastrophe risk, inclusive of terrorism and 12 natural perils. The tool’s underlying technology can also be used for charting an employer’s head count or payroll by office location. The data and information supplied to the new feature cover China, the United States, Canada and Australia at province/state levels and the rest of the world at country level, represented by either a country’s geographical central point or capital.

Enhancing Proactive Resiliency Risk and Business Continuity Decision Making

“The economic impact of COVID-19 will clearly be significant, and organizations are under pressure to quickly identify and better understand their business interruption and workers compensation exposures triggered by this pandemic,” comments Ben Fidlow, global head of Core Analytics, Corporate Risk and Broking, Willis Towers Watson. “Our new data- and analytics-driven feature will help clients through these efforts and enable them to enhance the practice of their proactive resiliency risk and business continuity decision making.”

The information within the new feature has been created and maintained by the Center for Systems Science and Engineering at Johns Hopkins University, Willis Towers Watson reports. Data sources include the World Health Organization, the U.S. Centers for Disease Control and Prevention (CDC), the National Health Commission of the People’s Republic of China, the European Centre for Disease Prevention and Control, and DXY. The China data are automatically updating at least once per hour, and non-China data are updating manually.

The information will automatically be visible to users through the “live events” capability; users have the option to turn this feature off if it’s not required.

COVID-19, the Economy, the P&C Industry, and Technology Spending

 

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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