VENICE, Italy, Oct. 06, 2015 (GLOBE NEWSWIRE) -- Willis Group Holdings plc (NYSE:WSH), the global risk advisory, re/insurance broking, and human capital and benefits firm, has launched a ground-breaking tool that enables risk managers to forecast third party motor risk across Europe.
The Dynamic Casualty Forecast tool uses Willis’ proprietary data so that, for the first time, a client with significant motor exposure of any vehicle type and any country mix across Europe can now have an improved understanding of their risks, and a customized view of loss potential.
This clearer understanding of risks can then be overlaid across company financials to give tangible and real-time decision support to drive risk transfer strategy, as well negotiate better terms with insurance markets.
The product was launched today at the Federation of European Risk Management Associations (FERMA) Forum in Venice, and reflects Willis’ commitment to being The Analytical Broker by creating data-driven solutions to help clients better understand and manage their risks.
Ben Fidlow, Global Head of Willis Core Analytics, said: “Willis handles more than one million vehicles across Europe, and we have a significant presence with dedicated teams in many key countries. We understand our clients’ business and the industry’s unique needs.
“The Dynamic Casualty Forecast engages clients at all levels with clear, concise visuals and financials. For the first time, auto fleet managers will now have data-driven decision support to proactively engage the insurance markets on a country-by-country and aggregated basis across Europe. This approach breaks down the segmentation for motor liability across countries and markets to provide better risk insight and decision support for our clients.”
John Merkovsky, Global Head of Willis Risk & Analytics, said: “Willis believes in the power of data, analytics and technology to help our clients across all industries and in every corner of the globe. This is the latest in a series of ground-breaking risk quantification tools, and we are designing many more to meet our clients’ needs.”
Willis Group Holdings the global risk advisory, re/insurance broking and human capital and benefits firm. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world’s leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.
Source:Willis Group Holdings