The Willis Research Network
In 2006, the re/insurance sector was picking itself up after the unprecedented hurricanes Katrina, Rita and Wilma and facing intense questions and challenges from heightened analytical and regulatory demands of natural catastrophe risk. In response Willis Re, working with academic and industry leaders created the Willis Research Network (WRN) to integrate public science and re/insurance communities, capabilities and facilities to scale up and enhance our collective ability to understand, evaluate and manage these extremes and provide independent and credible scientific expertise to improve risk decision making across the industry.
It began with fellowships at seven UK universities has since grown to programmes and projects across more than fifty science institutions worldwide, working with our re/insurance clients and partners to confront the full spectrum of modelling challenges of this domain. The challenge was to combine high end research, evidenced by hundreds of peer-reviewed publications over the years, with practical application and impact for our clients and the wider industry to support secure, resilient and efficient insurance markets.
Today, a lot has changed. Our industry continues to evolve and the pace of improvement in understanding is astonishing. A lot also remains the same. Key risk management issues are not fully known and no single institution has the resources or breadth of knowledge to answer these questions. The challenges of understanding risk and resilience are still best met working in partnerships and embracing the skills of people across the globe
The WRN continue to build on the strength of its partnerships, delivering, incorporating solutions into insurance sector models, methodologies and transactions to improve the market’s understanding, resilience and coverage of risk
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