Willis upgrades Climate Diagnostic
Willis has launched an upgraded version of Climate Diagnostic, its climate risk technology that it says helps organisations more accurately assess, manage and disclose the potential impact of climate risks on their assets, operations and supply chains.
Climate Diagnostic, part of Willis’ leading RiskIQ platform, puts comprehensive climate data at organisations’ fingertips, enabling them to strengthen resilience and respond to evolving disclosure requirements.
The physical climate risk analytics platform can now screen 16 acute and chronic climate risks, from flood and tropical cyclone to drought and landslide, providing organisations with a tailored, comprehensive, and scenario-driven analysis of their exposure to climate risks. As a foundation for deeper, scalable climate risk analysis, clients can quickly and independently access information that extends the lens beyond their own assets, to include assessment of business continuity risks across their value chain.
The new version is climate data agnostic. Rather than relying on a single proprietary dataset, clients can select the view best suited to their portfolio and purpose. As a broker, Willis sits independently of any insurer's own modelling, so clients receive a view of risk they can use to validate underwriting assumptions, challenge pricing and capacity decisions, and support disclosure under frameworks such as ISSB and CSRD.
The platform’s capabilities are further enhanced by integrating Willis’ hazard indices alongside Moody's high-resolution flood modelling, and Munich Re’s hazard indices. The combination of Moody's and Munich Re’s (re)insurance analytics with Willis's placement and climate advisory expertise helps clients to better identify, manage and mitigate risk amid growing climate volatility.
Alvaro Linares Fuster (pictured), senior director, climate analytics, Willis, said: “This major upgrade to Climate Diagnostic gives risk, sustainability and finance teams one platform, multiple data sets and a coherent story for climate-related decisions. Just as importantly, it gives them an independent view of risk. Clients can choose data they trust, and walk into renewal, disclosure and investment conversations owning their view of risk.”
Climate Diagnostic forms part of Willis’ continued investment in technology, analytics and digital solutions that strengthen client decision-making and enhance the delivery of climate risk solutions. As the platform evolves, it will provide additional ways to support better decision-making for a wide range of sectors, including real estate, hospitality, retail, manufacturing and insurance.
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