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Willis Research Network Newsletter – Q4 2021

Future of Work
Climate Risk and Resilience

December 21, 2021

In this newsletter, you will find a selection of topics showing the variety of research partnerships facilitated by the Willis Research Network.

Welcome to final 2021 edition of the Willis Research Network (WRN) Newsletter.

In our latest newsletter we focus on a number of the key climate initiatives that have been developed over the past 12 months. COP 26, held in Glasgow in November this year offered a pivotal moment in the ongoing efforts to combat the impacts of climate change. A number of key pledges continued the progress made in previous conferences, however understanding the impact of climate change remains a key challenge in ensuring that more is done.

From a WRN perspective, at the end of last year, we set a challenge to our members to come up with ideas for short collaborative research projects that focus on specific elements of risks associated with climate change. From the ideas submitted, three were chosen and earlier in December we were able to share some those results. These projects directly feed our understanding of physical climate risk – still an area with much to learn – and will directly support further work. We are delighted to confirm our 2022 Challenge Fund call will expand on that with themes looking at Climate change liability and impacts on health.

Alongside climate, technology risk remains a key area of interest. The next round of the WRN Challenge Fund will also feature topics around trust in technology and the impact of changing technology on trends in the workplace. In this newsletter we feature work that aligns to both these areas including work looking at the role of Artificial Intelligence in the Insurance industry and insight in to the positive disruptive change technology can bring. Finally, we are proud to be supporting the recently launched Ports and Terminals Risk Forum, a platform that aims to explore risk identification and response for the industry.

As always, we hope that this update is useful, and welcome your feedback on this and the wider work of the Willis Research Network. And, finally, we wish you a great end to the year and look forward to being in touch again in 2022.

Hélène Galy

Managing Director

Willis Research Network


Table of Contents


  1. 01

    There should be no boundaries when it comes to enhancing climate risk analytics

    By Geoffrey Saville | November 12, 2021

    Climate risks require a collaborative approach to accelerate innovation and develop tools and models that create a comprehensive view of the risks.


  2. 02

    Accelerating research application with the Willis Research Network’s Challenge Fund 2021

    By Geoffrey Saville | December 20, 2021

    Through 2021 the Willis Research Network set a challenge to its partners to present ideas for collaborative research projects focused on climate change associated risks.


  3. 03

    Openness holds the key to better future climate risk models

    By Matt Foote | October 27, 2021

    More open sources of data and open, common standards and metrics for models will enhance our understanding of the potential implications of climate-transition decisions.


  4. 04

    Understanding the observed: AI & Flood

    By Nalan Senol Cabi | December 16, 2021

    ‘Observing’ data is never enough to understand risk. We need to ‘see’ it clearly and analyse the data meaningfully. When the available data is so vast and our eyes aren’t up to the task, it’s time to get help from machines.


  5. 05

    Artificial Intelligence and Insurance - TECHNGI

    The TECHNGI research project at Loughborough University invite you to the first session of our Artificial Intelligence and Next Generation Insurance Services Conference 2021/22, supported by the Willis Research Network, taking place 14:00 – 16:00 on Thursday, December 2nd, 2021.


  6. 06

    Technology, Media and Telecommunications futures report: digitalization & technological advances

    By Fredrik Motzfeldt | December 20, 2021

    Following the release of the TMT report earlier this year, Fredrik Motzfeldt reflects on observations, insights and recommendations from key executives in the TMT and broader risk management space.


  7. 07

    Willis Towers Watson launches industry risk forum for Ports and Terminals

    December 2, 2021

    The Ports and Terminals Risk Forum is launched as a dedicated community, delivering insight and risk management solutions to operators worldwide.


Recent Events

Willis Research Network Challenge Fund: Accelerating Climate Risk Analytics

On the 8th of December, the Willis Research Network hosted an event presenting the initial findings from the successful Challenge Fund proposals.

  • “Towards Physically Based and Usable Climate Event Scenarios” presented by Dr James Done, NCAR, and Prof Gabriele Villarini, Iowa State University
  • “Convective storm characteristics in a changing climate (CSTOCC)” presented by Dr Chiara Lepore, Columbia University and Prof Dr Michael Kunz, Karlsruhe Institute of Technology
  • “Proposed Realistic Climate Change Stress Tests Approaches for Disaster Prone Southeast Asia Domain” presented by Prof Shie-Yui Shie Liong, National University of Singapore

Slides and presentations from our recent 15 year

WRN Challenge Fund event

COP26 briefing: a planet in the balance

COP26 was widely billed as perhaps society’s biggest opportunity so far to slow climate change. Did it succeed and how should industry respond? Through the Willis Towers Watson COP26 special feature campaign site, our climate and resilience experts and thought leaders explore how the high-level commitments made in November affect countries, communities and the businesses and industries that support them.

Willis Towers Watson Campaign Site

Other articles of interest

U.S. overhauls flood insurance to meet rising climate change risks Industry needs to put aside competitive instinct to model climate impact on flood risk
Contacts

Managing Director of WTW Research Network,
Head of People Risks Research

Programme Director of WTW Research Network,
Head of Technology Risks Research

Head of Weather and Climate Risks Research

Head of Emerging Risks Research

Head of Flood Risks Research


Head of Organizational Resilience Research

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