AXA XL Risk Consulting, part of insurer AXA’s property & casualty and specialty risk division, has launched its Water Impact and Sustainability Evaluation (WISE) tool to help risk managers understand, evaluate, and act on water risks.
WISE, a remote, customisable solution, considers process efficiency and business continuity to provide an adaptable evaluation framework, says the firm.
The insurer added that amid a changing climate, water risks affect almost every industry, bringing financial and operational challenges. WISE is designed to evaluate risks across three key components: physical, regulatory, and reputational.
Jonathan Salter, Global Head of Risk Consulting at AXA XL, commented: “Water-related issues including water scarcity, poor water quality and flooding can have a significant impact on a company’s risk profile. WISE helps clients to better understand their evolving exposure and how to address these challenges.
“WISE uses information from various sources and risk factors and the results are structured in an interactive dashboard, allowing clients to compare risks, see site-specific data, and download reports easily. By combining our consultants’ experience with digital services, we’re able to gain deeper insight into our clients’ risks and continue to increase understanding of these topics.”
Suzanne Scatliffe, Director of Sustainability, AXA XL, said: “Creating a water-secure world requires water resources to be protected and properly managed. All stakeholders relying on water should understand how changes in global climate will impact their financial security, which is why it’s important that we continue to raise awareness of these topics.”
The WISE tool will be available in the UK, Europe, and APAC initially.
