Willis Group Holdings plc has launched a modeling tool that enables risk managers to forecast third party motor risk across Europe.
The Dynamic Casualty Forecast tool uses Willis’ proprietary data so that 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, Willis said.
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 company said in a statement.
Willis said the product reflects Willis’ commitment to 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.”
Source: Willis Group Holdings
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