Willis draws on earth simulator to better handle catastrophes

In order to help insurers understand the frequency and severity of natural catastrophes, Willis Research Network has joined forces with internationally renowned universities in a research program on climate simulations at the NEC Earth Simulator in Yokohama, Japan. The research marks a major step from global modeling towards regional and local impact. It promises to be of profound significance to the international reinsurance and insurance industry. The ultimate aim of the research program is to provide improved inputs into catastrophe models and realistic disaster scenarios giving underwriters much greater confidence in understanding future risk across key regions and weather perils. Over the next three years the Willis Research Network will work with teams of researchers in Japan and the UK to help apply the Earth Simulator to the needs of the Japanese and international insurance market to tackle a range of hazards.”We are just reaching the stage where the power of this immense computer platform, coupled with improvements in simulation techniques and climate modeling allow us to model regional weather and extreme events rather than just the mean climate,” said Rowan Douglas, chairman of the WRN. “This has profound implications for insurers. It opens the possibility for the insurance market to better prepare for the level of events that may arise from climate change.”