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Willis Towers Watson launches new risk advisory service to optimise risk finance

May 01, 2019

Willis Towers Watson (WTW) has announced the new risk advisory capability called Connected Risk Intelligence to help chief financial officers and risk managers reduce volatility and minimise their total cost of risk.  

Connected Risk Intelligence service has been built around IGLOO one of the leading proprietary decision support systems to the insurance sector, which provides advanced risk modelling and simulation capabilities, including dependency and correlation modelling.

In a recent press release WTW claims that Connected Risk Intelligence will identify how to take advantage of market inefficiencies, providing clients the ability to optimise the balance between retained and transferred risk.

The service will give clients a broad understanding of their risk portfolio to enable better informed decisions about their risk finance strategy in the collective. While this process reduces volatility it also improves costs and ultimately liberates capital for better uses.

John Merkovsky, head of risk and analytics, said: “Today’s risk manager and CFO have only been able to view risk financing as individual transactions, compartmentalised by line of business. Connected Risk Intelligence is a combination of advanced modeling technology and our own optimisation expertise, which will revolutionise the way organizations view risk management,”

Adding: “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.”