Willis Towers Watson (WTW) has developed a pandemic tracker that will allow P&C clients to measure Covid-19 exposures.
Launched by WTW’s risk and analytics team and integrated into its Global Peril Diagnostics tool, the new feature gives up-to-date information on confirmed Covid-19 cases around the world alongside clients’ property total insured values. WTW said it will also track any business interruption and workers compensation exposures that could be triggered by the virus outbreak.
The pandemic tracker covers China, the US, Canada and Australia by province or state, and the rest of of the world at country level.
The new tool uses data from John Hopkins University, the World Health Organization, the US Centers for Disease Control and Prevention, the National Health Commission of the People’s Republic of China, the European Centre for Disease Prevention and Control, and DXY.
“The economic impact of Covid-19 will clearly be significant, and organisations are under pressure to quickly identify and better understand their business interruption and workers compensation exposures triggered by this pandemic,” said Ben Fidlow, global head of core analytics, corporate risk and broking at WTW. “Our new data- and analytics-driven feature will help clients through these efforts and enable them to enhance the practise of their proactive resiliency risk and business continuity decision-making,” he added.
The feature is in addition to WTW’s Global Peril Diagnostic model that measures clients’ property portfolios and assesses their exposure to major risks, including terrorism and 12 natural catastrophes.