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Capital, Science and Policy Practice

Willis Towers Watson’s Capital, Science and Policy practice helps confront large-scale societal challenges and structural changes, such as those brought about by climate risk or urbanization, to create institutional resilience through the development of risk-smart capital and innovative approaches to risk management.

The Capital, Science and Policy (CSP) practice at Willis Towers Watson brings together global expertise from across the re/insurance industry, climate risk management and development finance.  We seek to promote societal resilience to the increasing risk and related economic losses from climate-related events by ensuring that public and private sector organizations are better informed about their risk exposure and have access to effective mitigation tools and financial mechanisms.  CSP supports drivers of policy and regulation to recognize and understand the true cost of risk to public and private organizations, helping to develop  a global financial system that truly incentivizes resilience.

Informing public policy to protect communities

CSP has developed a network of influential and extensive relationships with sovereign governments, international institutions and humanitarian organizations to advocate for an integrated approach to climate resilience across financial services and the wider economy. A significant element of this advocacy stems from the foundation and continued involvement with the Insurance Development Forum, which aims to drive wider use of insurance and related risk management capabilities to build greater resilience for communities vulnerable to disasters.

Innovative disaster risk management

Central to our work is the development of innovative disaster risk financing mechanisms that support increased resilience through:

  • Improvements in risk assessment and awareness
  • The development of coordinated pre-agreed post-disaster plans
  • The implementation of effective financial protection measures

We have expertise in parametric and modelled loss index structuring to promote rapid liquidity in response to natural hazard events.  We are the sole reinsurance broker for the three largest parametric natural catastrophe emergency response schemes globally:

  • African Risk Capacity
  • Pacific Catastrophe Risk Insurance Company

We bring insurance capital and methodologies to questions of risk and resilience in cities, municipalities and communities across all geographies. The team focuses on innovative risk management methods for extreme and catastrophic weather events and post-disaster situations at the regional, sovereign and sub-sovereign level.

Resilience finance for more adaptive societies and ecosystems

As the scale of climate-related hazards grows, public and private organizations, as well as investors and other key market stakeholders, are beginning to experience the financial implications of physical climate exposure.  CSP supports them with analytical expertise, strategic consulting and innovative methods of financing resilience, including leveraging the methodologies and metrics of catastrophe modeling frameworks to assist with efficient pricing of physical climate risks in asset valuation processes.

CSP also furthers the development of management frameworks and innovative finance to build the resilience of ecosystems and their associated communities through the Global Ecosystem Resilience Facility (GERF).  The GERF aims to incentivize stewardship of global marine and terrestrial ecosystems through the integration of risk smart behavior and insurance-related capabilities.

Science, analytics and risk quantification

CSP offers a deep understanding and promotion of the relationship between the quantification of risk, client needs and risk management solutions. Drawing upon a wide array of academic and research institutions (including the Willis Research Network) to inform hazard profiles by peril and territory, the practice can innovatively apply existing analytical approaches to emerging business opportunities, including public sector service delivery, natural capital and geopolitical threats.  

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Insurance Development Forum

The IDF is a public/private partnership led by the insurance industry and supported by international organisations. The IDF aims to optimise and extend the use of insurance and its related risk management capabilities to build greater resilience and protection for people, communities, businesses, and public institutions that are vulnerable to serious weather-related risks.