Willis Towers Watson (WTW) subsidiary Willis released a new version of its Climate Diagnostic model designed to predict the current and future impact of floods, windstorms and other material climate threats on assets, business activities and supply chain, the company said Monday.
The enhanced analytics tool conducts scenario-based assessments across portfolios to identify physical risk exposure to insurable climate-related hazards, stress testing risk management and finance strategies, the company said.
Climate Diagnostic also estimates the value of portfolio assets exposed to extreme weather risks and longer-term changes in climate patterns, Willis said.
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