Willis Towers Watson has added a new, real-time, risk and analytical feature to its Global Peril Diagnostic modeling tool amid coronavirus (Covid-19) global pandemic.
The new feature is designed to provide clients with the latest information on confirmed global Covid-19 cases and their property total insured values by location. More importantly, clients can also easily track developments of the pandemic set against their property assets with the new feature.
By evaluating clients’ property portfolios, Global Peril Diagnostic tool, a risk and analytics model, determines their exposure to comprehensive catastrophe risk including terrorism and 12 natural perils.
The technology included in the tool will also enable charting of an employer’s headcount or payroll by office location.
Willis Towers Watson Corporate Risk and Broking global head of Core AnalyticsBen Fidlow said: “The economic impact of Covid-19 will clearly be significant, and organizations are under pressure to quickly identify and better understand their business interruption and workers compensation exposures triggered by this pandemic.
“Our new data- and analytics-driven feature will help clients through these efforts and enable them to enhance the practice of their proactive resiliency risk and business continuity decision making.”
Data and information covering China, the US, Canada, and Australia at province/state levels have been fed into the new feature.
The Center for Systems Science and Engineering at Johns Hopkins University is in charge of maintaining the data within the new feature.
Data for the new tool is sourced from the World Health Organization, the US Centers for Disease Control and Prevention, the National Health Commission of the People’s Republic of China, the European Centre for Disease Prevention and Control, and DXY.
The new feature is also supplied with data and information from the rest of the world at country level, represented by either a country’s geographical central point or capital.
An option to turn off the feature is also provided to the users.