AXA XL launches new software to mitigate water dangers

Property and casualty (P&C) re/insurance coverage firm AXA XL has launched a brand new software to evaluate and handle danger from water.

Referred to as Water Affect and Sustainability Analysis (WISE), the distant, configurable software is designed to assist danger managers in recognising, assessing, and mitigating water-related hazards.

AXA XL mentioned water dangers influence almost each trade within the wake of local weather change, posing operational and monetary difficulties.

WISE assesses dangers throughout three main parts — reputational, regulatory, and bodily — whereas factoring within the course of effectiveness and firm continuity.

The answer accesses data from a number of sources and danger elements.

It supplies the ends in the type of an interactive dashboard, enabling prospects to check dangers, obtain studies and consider site-specific data, the insurer mentioned.

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Initially, the WISE software shall be out there within the UK, Europe, and APAC.

AXA XL international danger consulting head Jonathan Salter mentioned: “Water-related points together with water shortage, poor water high quality and flooding can have a big influence on an organization’s danger profile. WISE helps shoppers to higher perceive their evolving publicity and the best way to handle these challenges. By combining our consultants’ expertise with digital companies, we’re in a position to achieve deeper perception into our shoppers’ dangers and proceed to extend our understanding of those matters.

AXA XL sustainability director Suzanne Scatliffe mentioned: “Making a water-secure world requires water assets to be protected and correctly managed.

“All stakeholders counting on water ought to perceive how adjustments in international local weather will influence their monetary safety, which is why it is necessary that we proceed to lift consciousness of those matters.”

AXA XL is the P&C division of French insurance coverage main AXA.

Individually, AXA introduced that it has accomplished the acquisition of Eire-based Laya Healthcare.

The €650m ($710m) deal to amass Laya from Corebridge Monetary was introduced in August this 12 months.

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