Willis Research Network Renews Partnership with Global Earthquake Model Foundation

The Willis Research Network (WRN) announced it has renewed its partnership with the Global Earthquake Model (GEM) Foundation.

The agreement represents a continued commitment to working collaboratively in order to develop and promote better understanding of earthquake risk.

“The truly global nature and depth of the work undertaken by GEM enables us to access some of the best and most consistent data to inform our view of risk and help our clients understand theirs,” said Karl Jones, head of Catastrophe Analytics, Willis Re International.

“Willis Towers Watson was one of the original founding members of this ground-breaking initiative and the renewal of this partnership highlights the continued importance of their global work,” he added.

“We believe that supporting initiatives such as GEM puts the WRN at the forefront of applied research for earthquake hazard and helps provide a customized and bespoke view of risk, as well as reflecting Willis Towers Watson’s commitment to social responsibility,” said Rosa Sobradelo, senior research manager for the WRN.

Since its creation 10 years ago, the GEM Foundation has been developing open source tools to help public and private entities assess and quantify earthquake risk.

This extensive and collaborative work with private, public, academic and scientific institutions worldwide has made GEM a global touchstone in the field of earthquake risk assessment.

GEM is set to release its Global Earthquake Model 2018 (GEM2018) in December.

“GEM and Willis Towers Watson share a common commitment to the development and application of science to understanding and managing earthquake risk on a global scale. We are very pleased to renew our relationship and continue our work together,” said John Schneider, GEM secretary general.

About Willis Research Network (WRN)

Since it was founded in 2006, the Willis Research Network has explored ways in which the world’s leading research organizations can help confront the challenges of managing risk and delivering resilience for the re/insurance industry. Through the WRN, Willis Towers Watson has teamed up with more than 50 world-leading institutions pioneering science and new analytical approaches to traditional problems of greatest relevance to our clients and our industry.

Global Earthquake Model (GEM) Foundation

Initiated by the OECD’s Global Science Forum, the Global Earthquake Model (GEM) Foundation was formed in 2009 as a non-profit foundation in Pavia, Italy, funded through a public-private sponsorship and aiming to help world become more resilient to earthquakes. GEM’s mission is to become one of the world’s most complete sources of risk resources and a globally accepted standard for earthquake risk assessment, whose products such as OpenQuake software and the upcoming Global Earthquake Model, are applied in risk management worldwide.

Source: Willis Research Network (WRN)

Topics Mergers & Acquisitions Catastrophe Natural Disasters Willis Towers Watson