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About Willis Risk Services


Risk Services is the analytical arm of Willis Australasia.

We provide our clients with confidence in their risk financing strategies via our unrivalled risk services that assess and optimise the treatment of insurable risks.

Our Aim


Our aim is to serve our clients by:

  • Ensuring they are well informed so that they are on an even playing field with underwriters when designing and pricing programs.
  • Quantifying key risks to enable more effective decision making and reporting.
  • Optimising the ‘total cost of insurable risk’ on a sustained basis.
  • Driving insurable risk maturity to deliver options and resilience to harder market cycles.

Willis Risk Services has four insurable risk consulting specialisms that can assist you to achieve these objectives.

Good corporate governance for insurance requires a corporate risk audit trail where risk retention, risk transfer and insurance decisions can be explained and justified. Our insurable risk specialisms support and enable the optimisation of your risk financing strategy.

Strategic Insurance Advisory


Aligning Enterprise Risk Management (ERM) resources and action with the business strategy is necessary to maximise organisational effectiveness.

Strategic Insurance Advisory is about gaining genuine insight into your risk financing and how effectively aligned it is to the enterprise level strategy.

Willis will identify, review and benchmark the key insurable risks to assist you to develop integrated insurance solutions at the enterprise level that optimise risk financing strategies and satisfy your unique investment and business constraints.

Risk Engineering


Underwriters are more willing to give better terms when they can see that effective loss prevention and mitigation strategies have been implemented and plans are in place for continual improvement.

For high hazard occupancies, Willis Risk Engineers work with you to protect your business and develop a strategy to improve loss performance by providing comprehensive asset protection, loss prevention and risk management advice.

NatCat Consulting


Natural hazards such as floods, bushfires, cyclones and tsunamis can have a profound impact on a business. Although natural hazards are considered rare, when we look at the statistics – most corporations have a 30% chance of experiencing a natural disaster in the next 20 years. Whilst these risks are unpredictable, they can be managed.

Willis Natural Hazard Consultants qualify the natural perils affecting your key assets and for the exposed assets, quantify the catastrophic risk for a single site or at the aggregate level across a portfolio utilising catastrophe models.

Analytics


For risks that are difficult to quantify, such as liability, limit validation analysis can determine the magnitude and volatility of these risks and validate if the current insurance limits are appropriate.

Optimising retention limits will lower overall risk financing costs. Utilising historic claims data Willis Actuaries can develop loss models to review the appropriateness of existing retention limits and assist in comparing financing costs of alternative program designs.

Business Risk: What We Think

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