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Willis Towers Watson (WTW) has launched a new risk advisory service to help chief financial officers and risk managers reduce the total cost of their companies’ risk.
The new Connected Risk Intelligence takes a portfolio approach to risk to help create optimal strategies around them. The service has been built around a proprietary decision support system, IGLOO, to provide advanced risk modeling and simulation capabilities – including dependency and correlation modeling.
Connected Risk Intelligence identifies how to capitalize on market inefficiencies, giving clients the capability to balance retained and transferred risk, a release said. By giving clients a broad understanding of their risk portfolio, they can reduce volatility, improve costs, and maximize capital.
A release added that the service aims to change 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,” said WTW risk and analytics head John Merkovsky.
Merkovsky added that by using Connected Risk Intelligence, WTW can help clients identify the right combination of solutions to move their overall risk finance portfolio to the efficient frontier, while taking advantage of arbitrage opportunities along the way.
Connected Risk Intelligence is now available for large corporate clients with complex risk portfolios.
