FIS Climate Modeler Could Help Insurance Brands

There’s no doubt that asset values are rising worldwide. Equally, the cost in admin, labour rates, materials and more after a Cat event have also risen. That means weather event modelling is an integral part of risk assessment for many insurers. Here’s the word from FIS;

FIS^® (NYSE: FIS), a global leader in financial technology, today announced the launch of its Climate Risk Financial Modeler. The new SaaS risk offering aims to help businesses across all industries better assess, reduce and report their exposure to the physical risks of climate change.

By unlocking FIS’ powerful risk modeling and market leading insurance analytics, FIS Climate Risk Financial Modeler harmonizes client data with third-party climate data and is hosted on a new interface that is directly tailored to the risk management needs of corporates and financial institutions—ultimately seeking to drive more proactive foresight into potential climate-related risks .

“The launch of the FIS Climate Risk Financial Modeler is the latest chapter in our long history of market-leading risk management software and services throughout the money lifecycle,” said JP James, Head of Treasury and Risk at FIS.

Why The Climate Risk Financial Modeler Matter 

By adopting FIS’ Climate Risk Financial Modeler, clients can gain a meaningful assessment of their operations, investments, and strategic positioning from a climate risk perspective, as well as efficiently support their climate-related regulatory compliance.

How The Climate Risk Financial Modeler Works

With FIS’ Climate Risk Financial Modeler, users are able to perform powerful modeling on various weather-related perils at both local and global levels, project potential financial losses from severe weather events, and determine the effects of climate change on their operations.

The solution makes use of powerful data from PwC US, combined with readily available information on a firm’s physical assets—such as its buildings and contents—along with global climate data, and performs relevant calculations.

Learn more:

The FIS Climate Risk Financial Modeler is now available .https://www.fisglobal.com/en/products/climate-risk.