Willis Group has launched a tool that enables risk managers to forecast third-party motor risk across Europe.
The Dynamic Casualty Forecast tool uses Willis’ data so that a client with significant motor exposure of any vehicle type and any country mix across Europe can now have an improved understanding of their risks, and a customised view of loss potential.
This clearer understanding of risks can then be overlaid across company financials to give tangible and real-time decision support to drive risk transfer strategy, according to Willis.
The product was launched at the Federation of European Risk Management Associations (FERMA) Forum in Venice.
Ben Fidlow, global head of core analytics at Willis, said: “Willis handles more than one million vehicles across Europe, and we have a significant presence with dedicated teams in many key countries. We understand our clients’ business and the industry’s unique needs.
“The Dynamic Casualty Forecast engages clients at all levels with clear, concise visuals and financials. For the first time, auto fleet managers will now have data-driven decision support to proactively engage the insurance markets on a country-by-country and aggregated basis across Europe."
"This approach breaks down the segmentation for motor liability across countries and markets to provide better risk insight and decision support for our clients.”
