Willis and Towers Watson have merged. Visit willistowerswatson.com

Download PDF (138K)

Willis Re Extends Strategic Partnership with KatRisk and SpatialKey to Deliver Unmatched Global Flood Analytics

LONDON, UK, October 20, 2014 – Willis Re, the reinsurance division of Willis Group Holdings plc (NYSE: WSH), the global risk adviser, insurance and reinsurance broker, today announced the expansion of its strategic partnership with KatRisk LLC and SpatialKey Inc. to offer Willis Re clients analytical capabilities for proactive management of flood accumulations worldwide.

The extended partnership broadens the existing analytical platform for the U.S. to cover the rest of the world, bringing together Willis Re’s in-depth insurance knowledge and tested analytical expertise, KatRisk’s advanced science and industry- leading flood models, and SpatialKey’s intuitive, speed-of-thought Flood Accumulation Application (“App”).

Following success with clients since the integration of U.S. flood hazard maps into the App, Willis Re and SpatialKey are now working to integrate KatRisk’s global flood hazard maps starting with Japan, China and South-East Asia. Australia, Canada, Latin America and European layers are to follow.

Matthew Eagle, Regional Director, Willis Re, commented: “Demand for a high quality, high resolution global flood solution continues to increase. Insurers need to leverage the latest science and analytical methods to evaluate and manage global flood exposure. The advanced science and accurate risk assessment provided by KatRisk’s approach, delivered via our expanded partnership with KatRisk and SpatialKey, will enable a significant improvement in how Willis Re clients proactively manage their flood accumulations worldwide.”

Vaughn Jensen, Executive Vice President of Catastrophe Management Services at Willis Re said: “Willis Re is having tremendous success with offering clients cutting- edge flood analytics through partnering with SpatialKey and KatRisk. The expanded global offering, as well as licensing the complete suite of AIR’s probabilistic flood models, gives our clients access to a wide range of flood analytic solutions.”

- Ends –

About Willis Re

One of the world's leading reinsurance brokers, Willis Re is known for its world-class Analytics capabilities, which it combines with its Reinsurance expertise in a seamless, integrated offering that can help clients increase the value of their businesses. Willis Re serves the risk management and risk transfer needs of a diverse, global client base that includes all of the world's top insurance and reinsurance carriers as well as national catastrophe schemes in many countries around the world. The broker's global team of experts offers services and advice that can help clients make better reinsurance decisions and negotiate optimum terms. For more information, visit www.willisre.com.

About Willis

Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world’s leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.

About KatRisk

KatRisk is a catastrophe modeling company providing comprehensive and cost effective catastrophe risk models with an emphasis on flood, including tropical cyclone related rainfall and storm surge. KatRisk models are global in scope, capturing large scale regional and continental correlations. Models have an open architecture allowing users to better understand underlying model parameterizations and when desired supplement models to incorporate specific user knowledge and views of risk. For more information, visit www.katrisk.com.

About SpatialKey

SpatialKey is a leader in insurance analytics and visualization, delivering real business value via purpose-built applications. SpatialKey Insurance Intelligence integrates industry-leading data solutions with an unmatched user experience and differentiated geo-spatial and business intelligence capability. Through speed-of- thought analytics and agile visualizations, SpatialKey helps insurers understand risk accumulations and composition, respond to live catastrophe events, and manage exposure proactively at the point of underwriting. As insurers innovate to deliver value to their customers and seek to optimize their risk portfolio, SpatialKey will continue to work with them to deliver revolutionary analytics. For more information, visit www.spatialkey.com.

###