{"id":971858,"date":"2026-06-15T04:03:15","date_gmt":"2026-06-15T08:03:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/willis-unveils-new-technology-to-counter-existential-risk-to-property-insurance-from-climate-change-volatility\/"},"modified":"2026-06-15T04:03:15","modified_gmt":"2026-06-15T08:03:15","slug":"willis-unveils-new-technology-to-counter-existential-risk-to-property-insurance-from-climate-change-volatility","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/willis-unveils-new-technology-to-counter-existential-risk-to-property-insurance-from-climate-change-volatility\/","title":{"rendered":"Willis unveils new technology to counter existential risk to property insurance from climate change volatility"},"content":{"rendered":"
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LONDON, June 15, 2026 (GLOBE NEWSWIRE) — Willis, a WTW business (NASDAQ: WTW), today unveiled a new version of its Climate Diagnostic model to help risk managers better understand and respond to climate-driven volatility affecting property insurance markets.<\/p>\n

Embedded within WTW\u2019s Risk IQ platform, Climate Diagnostic is a climate risk technology capable of predicting the current and future impact of floods, windstorms and other material climate threats on an organisation\u2019s assets, business activities and supply chain.<\/p>\n

As extreme weather events become more severe and frequent, insurers worldwide are responding either by increasing the cost of property insurance or withdrawing from vulnerable regions entirely. With the costs of protection predicted to keep rising with climate risks and in some regions become increasingly unsustainable, the implications for individuals, businesses and economies will be long-lasting.<\/p>\n

In order to help address this growing protection gap, Willis has embedded Climate Diagnostic into its broking workflows and risk engineering surveys. The enhanced analytics tool enables brokers and risk managers to identify and quantify the impact of acute climate hazards, such as extreme flooding or windstorm risk, on global assets and business interruption under the current and future climates.<\/p>\n

Peter Carter, Head of Climate Practice at Willis, said: \u201cThe volatility and frequency of climate hazards are increasing. Embedding Climate Diagnostic in broking\u00a0workflows and engineering surveys sets a new industry standard, with clients benefiting from a built-in\u00a0scan\u00a0of the risk against ongoing climate change volatility.\u201d<\/p>\n

Climate Diagnostic conducts scenario-based assessments across an organisation\u2019s portfolio to identify current and future physical risk exposure to insurable climate-related perils, stress testing risk management and finance strategies in the short, medium and longer term. With this forward-looking approach, risk managers can incorporate safety measures into their risk transfer strategies that allow for rising climate volatility and explore alternative risk management methods, such as physical adaptation or alternative risk transfer solutions.<\/p>\n

Climate Diagnostic also estimates the value of a portfolio exposed to levels of extreme weather risk and longer-term shifts in climate patterns. This supports the stress testing of current risk financing and risk transfer strategies amidst increasing climate volatility.<\/p>\n

Peter Carter said: \u201cEarly sighting of assets exposed to climate-related perils gives risk managers the chance to build resilience, improving future insurability\u00a0before disaster strikes.\u201d<\/p>\n

Key features of Climate Diagnostic include:<\/p>\n