Ace and Willis Re Analytics have launched the Ace cat web platform to help companies evaluate their own catastrophe exposures as well as those of their suppliers.
Following the worst-ever year for global catastrophe losses in 2011, Ace says the web-based platform will help highlight the vulnerability of many companies’ operations to supply chain interruption. The tool is designed to help businesses better understand their catastrophe risk profile and accumulations in different locations.
Commenting on the launch, Derek Talbott, executive vice-president of Ace says: “2011 provided a wake-up call for many companies. Last year a number of disasters, from the Japanese earthquake and tsunami to the Thai floods, underlined the importance for every business of understanding the risk exposures they face from increasingly global and ever-more complex production and supply chains.”
“The platform allows us to help clients by identifying more precisely the natural catastrophe exposures they face as a result of doing business across multiple locations and working with suppliers and customers who may be exposed to the same risks. By pinpointing accumulation hot spots, companies can better assess the strengths and weaknesses of their supply chains and Ace can more easily work with them to develop the right programmes to manage the risks,” Talbott adds.
According to Ace, risk modelling agency RMS will provide information on earthquake, storm and flood risk. The platform provides an online visualisation of the relative exposures that the client faces worldwide using a colour-coded global mapping feature.
Satellite imagery can then be used to provide more detailed risk assessments of local risk. The tool can also be used to view past and current global natural hazard activity, including earthquake, storm and flood events, using data from USGS (the US Geological Survey).
Last Updated May 11, 2012
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