MONTE CARLO, Sept. 21, 2016 (GLOBE NEWSWIRE) -- Willis Re, the reinsurance division of Willis Towers Watson (NASDAQ:WLTW), the global advisory, broking and solutions company, today announces the availability of proprietary Willis Re hazard data to its clients via partnership with SpatialKey.
The Willis Re View of Risk assists our clients in developing their own view of risk, through a combination of enhancing and evaluating existing models, and developing new models where there are none. Constantly advancing Willis Re’s in-house modelling solutions by combining insurance industry experience with expert knowledge, our Catastrophe Analytics teams help quantify the financial impact of natural and man-made catastrophes on our clients’ portfolios across the world.
Data developed by the team specifically focuses on gaps in the market for global perils where no reliable risk quantification tools exist, or where Willis Re can help clients enhance limited coverage or improve less detailed information.
Willis Re’s partnership with SpatialKey enables Willis Re clients to access this proprietary Willis Re information alongside data that clients may license from other industry sources, via a powerful and user-friendly geospatial platform.
The territories and perils covered are broad in scope, ranging from volcanic risk in Italy, to tsunamis in Japan, to flood and storm event assessments in Europe and flood in Australia and New Zealand.
Karl Jones, Managing Director, Willis Re said: “It’s important for us to help clients understand their risk, especially for perils and regions that get less attention from the commercial vendors. The expertise of our analysts around the globe, combined with the resources of the Willis Research Network and the power of the SpatialKey platform, puts the latest science at our clients’ fingertips.”
Tom Link, CEO of SpatialKey, said: “We’re pleased to broaden the range of information that Willis Re clients can access through our platform. SpatialKey’s vision is to empower insurers with all the information they need, enabling them to make optimal use of their risk capital to enhance profitability and resiliency.”
ABOUT WILLIS RE
Willis Re combines global expertise with on-the-ground presence and local understanding. Our integrated teams reveal hidden value in the critical intersections between risk, assets and ideas. As the reinsurance advisory arm of Willis Towers Watson, Willis Re can access and negotiate with worldwide markets and boost your business performance by making better reinsurance decisions. Together, we unlock value. Learn more at willisre.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 39,000 employees in more than 120 territories. 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.
ABOUT SPATIALKEY
We build technology that simplifies how insurers gain insights from information. We bundle everything insurers need—the best data, mapping, and analytics—in apps that help them streamline their decision making. More than 100 insurers trust our innovative, off-the-shelf solutions for underwriting, exposure management, and claims to help them achieve stronger portfolios.