Feature will track the receding virus, helping clients plan the resumption of business operations
Willis Towers Watson has updated its Global Peril Diagnostic modelling tool to provide up-to-date information on confirmed global COVID-19 cases alongside clients’ property total insured values by location.
Notably, the feature enables clients to easily track developments of the pandemic set against their property assets around the world.
“The economic impact of COVID-19 will clearly be significant, and organisations are under pressure to quickly identify and better understand their business interruption and workers compensation exposures triggered by this pandemic,” said Ben Fidlow, global head of Core Analytics, Corporate Risk and Broking, Willis Towers Watson.
The Global Peril Diagnostic tool evaluates clients’ property portfolios and assesses their exposure to comprehensive catastrophe risk, inclusive of terrorism and 12 natural perils. Its underlying technology can also be used for charting an employer’s head count or payroll by office location.
The data and information supplied to the new feature covers China, the US, Canada and Australia at province/state levels and the rest of the world at country level, represented by either a country’s geographical central point or capital.
“Asia is at a more advanced phase of the COVID-19 pandemic. After months of managing the outbreak and impact of the coronavirus here, there are encouraging indications that some countries in the region are controlling the spread of the virus, whilst others are showing signs that they are commencing the recovery process,” said Vince Mossfield, Liability Practice Head, Risk & Analytics Asia, Willis Towers Watson.
“This presents an opportunity for organisations to track the receding virus in these geographies and commence planning for the resumption of business operations as soon as it is practical.”
The information within the new feature has been created and maintained by the Center for Systems Science and Engineering at Johns Hopkins University. Data sources include 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 data for China is automatically updating at least once per hour, and non-Chinese data is updating manually.