The latest open access risk tools are now online, here’s the word;
The Insurance Development Forum (IDF) Risk Modelling Steering Group (RMSG) has launched a new IDF web page housing a powerful suite of free, open-access risk modelling tools.
Designed to advance climate and disaster risk understanding and quantification of disaster risk globally, open access to these tools responds to the needs expressed by private sector and vulnerable nations alike, for greater open access to risk information. Greater risk understanding enables nations to better manage their risks and make more informed decisions to prioritize risk management measures, which in turn facilitates the flow of investment where it is needed most, fueling progress to more stable economies.
In addition to these tools, the IDF RMSG has curated a collection of Parametric Insurance Case Studies, showcasing real-world applications of parametric solutions in regions vulnerable to climate and other disaster risks. These case studies highlight how innovative insurance structures are helping to protect infrastructure, financial systems, and communities – ranging from drought protection for hydropower in South Africa to rapid disaster response for the Mesoamerican Reef.
The development of the tools was funded by IDF insurance industry members AIG, Aon, AXA, Convex Insurance, Guy Carpenter, Howden, RenaissanceRe, SCOR and WTW. IDF has partnered in developing several of the tools with Oasis and with Maximum Information. This launch is proof of the power of collaboration among IDF partners across the public and private sectors, including major (re)insurers, modelling firms, development banks, and global risk initiatives.
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