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Willis Towers Watson (WTW) has integrated Moody's global flood data into its risk management tools.
This builds upon Moody's existing partnership with WTW, which has previously integrated catastrophe models into its Property Quantified platform.
WTW stated that with this move, its clients can gain access to additional insights to optimise insurance programmes and risk management strategies.
WTW core analytics global head Ben Fidlow said: “We will continue to invest in technology, data and partnerships for the benefit of our clients.
“Expanding the use of Moody’s analytics across a broader range of perils gives our clients better decision support on how to mitigate and transfer loss potential. This is not a static deliverable, our clients can access Property Quantified directly through our Risk Intelligence Quantified platform, empowering the ownership of risk analysis at the insurance buyer level.”
Moody’s insurance sales global head Mike Richitelli stated: “Moody’s is fully committed to continued investment into data, analytics, models and software that empower the entire risk and insurance value chain to conduct business in more streamlined, efficient and valuable ways.
“This new engagement with Willis demonstrates how our respective technology platforms can integrate to bring tools and valuable insights to risk and insurance decision makers.”
Moody's assists a variety of sectors including the insurance and financial services industries, as well as the public sector, with its Risk Management Solutions models.
These models evaluate risks associated with natural and man-made disasters including floods, earthquakes and pandemics.
This March, WTW broadened its partnership with the Karlsruhe Institute of Technology.
This effort, in conjunction with NASA's Disasters Programme and the NASA Langley Research Centre, aims to advance the understanding of hailstorm risks in Europe.
"WTW integrates Moody’s flood data into risk management tools " was originally created and published by Life Insurance International, a GlobalData owned brand.
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