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Willis Re Risk Consulting from Willis Re
Provides tailored risk modeling and analysis services, helping clients understand exposure to catastrophic events and optimize their reinsurance programs based on modeled outcomes.
Product analysis by function
Catastrophe Risk Modeling for Reinsurance for Reinsurance
Specialized software that assesses natural catastrophe exposures and helps optimize reinsurance purchases based on probable maximum losses and risk tolerances.
More Catastrophe Risk Modeling for Reinsurance
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Hazard & Vulnerability Modeling
(0 Yes /0 Known /13 Possible features)
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Multi-peril Coverage Ability to model multiple types of natural catastrophes, including but not limited to hurricanes, earthquakes, and floods. |
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Geospatial Resolution Level of detail in spatial risk mapping (e.g., postcode, address-level resolution). |
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Building Vulnerability Curves Use of vulnerability functions to estimate damage as a function of hazard intensity. |
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Secondary Perils Modeling Support for emerging/secondary perils such as wildfire, hail, convective storms. |
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Exposure Data Enrichment Ability to enhance client portfolios with hazard zone overlays, construction details, and location attributes. |
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Climate Change Scenarios Option to model catastrophe risk under different climate change projections. |
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User-defined Hazard Scenarios Flexibility to create custom hazard scenarios (e.g., bespoke earthquake ruptures). |
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Event Set Size Number of simulated catastrophic events for probabilistic analysis. |
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Ground-up Loss Computation Calculation of gross (pre-insurance) losses at policy or portfolio level. |
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Site/Asset-level Analysis Ability to drill down to individual locations or assets in risk evaluation. |
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Hazard Map Visualization Interactive display of hazard intensity overlays on portfolio locations. |
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Exposure Aggregation Support for aggregation of exposures by region, peril, or client portfolios. |
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Automated Data Cleansing Built-in tools to validate and clean exposure data for modeling. |
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Loss Modeling & Financial Module
(0 Yes /0 Known /12 Possible features)
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Probable Maximum Loss (PML) Support for calculation of PML at different return periods (e.g., 1-in-100 year event). |
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Average Annual Loss (AAL) Automated computation of the mean annualized loss across all modeled perils. |
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Loss Exceedance Curves Ability to generate exceedance probability distributions for loss benchmarking. |
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Insurance & Reinsurance Terms Modeling Modeling of contract terms such as limits, deductibles, sublimits, and layers. |
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Financial Structures Flexible module to replicate custom (e.g., multi-layer, quota share) reinsurance structures. |
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Correlation Across Perils/Regions Incorporation of peril or region-based correlation in calculations. |
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Cashflow Timing Modeling Ability to assess impact of loss payment timing on reinsurance recoveries and reserves. |
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Net vs. Gross Loss Analysis Comparison and breakdown of pre- and post-reinsurance losses. |
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Event Loss Tables Export Exportable event-by-event loss tables (ELTs) for reporting or further modeling. |
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Ceded/Retained Loss Output Breakdown of total loss between ceded and retained amount for all modeled events. |
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Currency Support Multi-currency modeling and loss reporting capabilities. |
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Tax & Expense Modeling Ability to factor in taxes, commissions, and other policy expenses in loss calculations. |
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Reinsurance Optimization Tools
(0 Yes /0 Known /11 Possible features)
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Reinsurance Structure Comparison Automated comparison of multiple reinsurance structures (quota share, XL, aggregate) for efficiency. |
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Program Optimization Engine Tool for recommending optimal reinsurance levels and attachment points based on user objectives. |
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Capital Efficiency Metrics Calculation of metrics like risk transfer efficiency, cost of capital, or marginal benefit. |
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Sensitivity Testing Ability to test impact of varying contract or risk parameters on results. |
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Retrocession Modeling Support for modeling and optimization of retrocession purchase for reinsurers. |
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Layer Contribution Analysis Quantitative analysis of loss and capital contribution by layer. |
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Simulation Run Capacity Maximum number of reinsurance scenarios or simulations that can be processed per run. |
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Dynamic Pricing Tools Support for pricing reinsurance products dynamically as structures are adjusted. |
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Stochastic Analysis of Reinsurance Costs Simulation of cost variability under different catastrophe load assumptions. |
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Graphical Program Builder Drag-and-drop interface to set up and visualize reinsurance layers and contracts. |
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Portfolio Rebalancing Suggestions Recommendations for rebalancing reinsurance portfolio in light of risk changes. |
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User Experience & Integration
(0 Yes /0 Known /10 Possible features)
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Web-based Interface Availability of browser-based, device-agnostic access. |
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Dashboard Customization Users can personalize reporting dashboards and save layouts. |
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Multi-user Collaboration Support for concurrent users, document sharing, and change tracking. |
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API Access Availability of APIs for data pull/push and workflow automation. |
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Import/Export Options Support for multiple formats (Excel, CSV, Oasis, etc.) for exposures and results. |
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Single Sign-On (SSO) Integrates with enterprise identity systems for easy log-in. |
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Third-party Data Integration Easy connection to external hazard datasets, geocoding, or satellite data providers. |
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Batch Processing Ability to set up, run, and monitor multiple modeling tasks in parallel. |
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Audit Trail System tracks user actions for compliance and traceability. |
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Help & Training Resources Contextual help, tutorials, and knowledge bases. |
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Reporting & Visualization
(0 Yes /0 Known /10 Possible features)
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Interactive Risk Maps Zoomable/clickable maps with summary stats and site-level detail. |
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Custom Report Builder Create, format, and export customized reports for stakeholders. |
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Regulatory Reporting Templates Pre-configured formats for Solvency II, Lloyd’s RDS, NAIC, etc. |
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Data Visualization Widgets Built-in scatterplots, bar charts, exceedance curve visualizations, and dashboards. |
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Export to PDF/Excel/Word Direct export of results and reports into common formats. |
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Scheduled Report Delivery Ability to automate distribution of regular updates. |
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Scenario Comparison Views Side-by-side visualization of risk scenarios and outcomes. |
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Custom Branding Add company logos and style to exported reports. |
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Drill-down Capabilities Users can navigate from high-level to detailed results with a click. |
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Attachment for Documentation Upload supporting documents to analysis/report output. |
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Performance & Scalability
(0 Yes /0 Known /8 Possible features)
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Processing Speed Average time to complete a modeling run on medium-sized portfolio. |
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Concurrent Job Capacity Number of catastrophe model runs supported in parallel. |
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Maximum Exposure Records Largest exposure dataset size supported per portfolio. |
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Auto-scaling Infrastructure Cloud-based elasticity for scaling compute power with demand. |
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Disaster Recovery Redundancy and disaster recovery measures for system resilience. |
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High Availability SLA Uptime guarantee for critical production systems. |
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Historical Job Logs Access to archived job/output logs for audit and reruns. |
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Data Compression Support for compressing datasets and results for efficient storage. |
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Data Security & Compliance
(0 Yes /0 Known /9 Possible features)
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End-to-end Encryption Data is encrypted both in-transit and at-rest. |
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Role-based Access Control Restricts user/system access by policy or department. |
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Multi-factor Authentication Requires multiple authentication methods for user login. |
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GDPR/CCPA Compliance Adherence to international privacy regulations. |
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Audit Logs Comprehensive tracking of user actions and data access. |
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Client Data Segregation Logical or physical segregation of client datasets. |
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Penetration Testing Regular vulnerability assessment and ethical hacking tests. |
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Data Retention Policy Controls Configurable data retention, archival, and deletion settings. |
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Incident Response Plan Predefined process for handling security breaches. |
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Model Validation & Transparency
(0 Yes /0 Known /7 Possible features)
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Model Documentation Access Full model methodology and assumptions documentation provided. |
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Open Model Inputs Ability for clients to review and in some cases adjust model input parameters. |
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Version Control Tracking changes and allowing rollback for model, data, and output versions. |
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Peer Review Tools Support for independent review and annotation of model results. |
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User-defined Validation Tests Ability to run custom tests to validate outputs against known benchmarks. |
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Model Sensitivity Reporting Automated quantification of model and parameter uncertainty. |
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Audit Trail for Models Detailed logs of model changes, runs, and result comparisons. |
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Model Update & Maintenance
(0 Yes /0 Known /5 Possible features)
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Automated Model Updates Push/pull based updating of hazard and financial models without manual install. |
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Changelog Distribution Transparent distribution of model release notes and update impacts. |
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Backward Compatibility Ability to re-run old portfolios in previous model versions. |
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User Notification of Updates Automated alerts and digest announcements of new releases. |
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Support for Historical Model Versions Ability to preserve and sandbox old model/data versions for regulatory reviews. |
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Customer Support & Service
(0 Yes /0 Known /7 Possible features)
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Technical Support Coverage Availability of support team during business hours (and optionally 24/7). |
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Onboarding Assistance Guided onboarding program for new clients and users. |
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Training Sessions Regular live/online training, webinars, and best practice workshops. |
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Client Community Access Forums, events, and user groups for sharing knowledge and advice. |
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Service Level Agreement (SLA) Formal SLAs for support response times and updates. |
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Premium Support Option Higher-tier support plans for critical clients. |
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Dedicated Account Manager Assigned point of contact for strategic engagement. |
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Pricing & Licensing
(0 Yes /0 Known /6 Possible features)
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Flexible Licensing Models Annual, usage-based, enterprise, or modular license options. |
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Pay-as-you-go Option Supports pay-per-use with no long-term contract. |
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Free Trial or Sandbox Limited access trial for proof-of-concept or evaluation. |
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Transparent Pricing Clear, predictable fee structures without hidden charges. |
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Bundled Model Updates Model/feature updates included in standard license. |
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Usage Tracking Tools Dashboards and reporting for monitoring software/data usage. |
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