Aon Benfield’s Impact Forecasting has incorporated its latest earthquake data into the World Bank’s new risk reduction tool, ThinkHazard.
The new tool, produced by the Global Facility for Disaster Reduction and Recovery (GFDRR), enables the development specialists to determine the potential likelihood of eight natural hazards and what actions they should take to make their project resilient, from enhanced evacuation planning to promoting improved building codes.
Impact Forecasting has collated earthquake data for 31 countries, including coverage of Bosnia and Herzegovina, Kenya, Morocco, Serbia, Turkey and Uganda, which were identified as priorities by GFDRR.
The data collated is visualised within the tool, as aggregated administrative units, labelled as high, medium and low hazard, and linked to recommendations of how to reduce risk.
Adam Podlaha, global head of Impact Forecasting, commented: “The insurance industry has traditionally focused on how we effectively react and pay claims following a disaster—using insights from catastrophe models to help prepare. Now, we have the opportunity with the World Bank to help risk reduction specialists to plan ahead.”
