Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, has launched a new advisory capability to help chief financial officers and risk managers reduce volatility and minimize their total cost of risk. Connected Risk Intelligence is a single source for financial executives to establish optimal risk strategies across their organization through a portfolio approach to risk.
Connected Risk Intelligence has been built around IGLOO, one of the leading proprietary decision support systems to the insurance sector. It brings advanced risk modeling and simulation capability, including dependency and correlation modeling, to the corporate sector. This process enables clients to significantly reduce risk while lowering costs.
Connected Risk Intelligence identifies how to take advantage of market inefficiencies, providing clients the ability to optimize the balance between retained and transferred risk across a broad range of risks that affect their business. It is an innovative approach, which gives clients a broad understanding of their risk portfolio to enable better informed decisions about their risk finance strategy in aggregate rather than within traditional line of business silos. This process reduces volatility, improves costs and, ultimately, liberates capital for better uses. It aims to transform the perception of risk management from a cost center to a value center.
“Today’s risk manager and CFO have only been able to view risk financing as individual transactions, compartmentalized by line of business. Connected Risk Intelligence is a combination of advanced modeling technology and our own optimization expertise, which will revolutionize the way organizations view risk management. By using Connected Risk Intelligence, we can help clients identify the combination of solutions that move their overall risk finance portfolio to the Efficient Frontier and exploit arbitrage opportunities along the way. For the first time, companies can have absolute certainty that their risk strategy is exactly right for their business. This means they are paying precisely what they need allowing effective capital deployment elsewhere,” said John Merkovsky, head of Risk and Analytics at Willis Towers Watson.
Connected Risk Intelligence is being launched at RIMS and is available for large corporate clients with complex risk portfolios.
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