The WISE tool will be available in the UK, Europe and APAC initially and is designed to assess risks across three key areas: physical, regulatory, and reputational.
Additionally, it takes into account factors such as process efficiency and business continuity, offering a holistic approach to water risk management.
This initiative underscores AXA XL’s commitment to addressing evolving challenges and providing effective tools for risk managers to navigate and mitigate water-related risks in their operations.
Speaking about the lauch, Jonathan Salter, Global Head of Risk Consulting at AXA XL. said: “Water-related issues including water scarcity, poor water quality and flooding can have a significant impact on a company’s risk profile. WISE helps clients to better understand their evolving exposure and how to address these challenges.
“WISE uses information from various sources and risk factors and the results are structured in an interactive dashboard, allowing clients to compare risks, see site-specific data, and download reports easily. By combining our consultants’ experience with digital services, we’re able to gain deeper insight into our clients’ risks and continue to increase understanding of these topics.”
Suzanne Scatliffe, Director of Sustainability at AXA XL, also commented, saying: “Creating a water-secure world requires water resources to be protected and properly managed.”
She added: “All stakeholders relying on water should understand how changes in global climate will impact their financial security, which is why it’s important that we continue to raise awareness of these topics.”
Author: Joanna England