The Willis Research Network, the pillar between academia and the finance and insurance industries for leading global advisory, broking and solutions company Willis Towers Watson (NASDAQ: WLTW), announced the addition of two new members, bringing substantial expertise to its seismic research activities.
The Willis Research Network works with more than 50 world-class institutions to fund research and foster long-term relationships to deliver research into business for Willis Towers Watson and its clients, to enhance the collective ability to understand, evaluate and manage evolving and emerging risks. The tailored research programs encompass a comprehensive range of insurance analytics disciplines, such as flood, earthquake, climate, terrorism, cyber and financial stability. These activities enable the Willis Research Network to develop multidisciplinary, global and collaborative research programs with specific and applied products.
Through appointing two new members, San Diego State University and Temblor, Willis Research Network has considerably strengthened its seismic research activities. Both members boast world-leading expertise that helps understanding of and furthering insight on seismic risk.
“After looking upon my many outstanding earth sciences colleagues in the Willis Research Network with envy, Temblor is pleased to be embarking on a research project with the Willis Research Network team,” said Ross Stein, the co-founder and chief executive officer of Temblor. “We are building tools for the insurance industry, and for the public at large, to understand and forecast how one quake promotes the next, to modify the exposure and potential losses, something we are calling Coulomb Express because it is founded on the concept of Coulomb stress transfer. We came to Willis Towers Watson and said, ‘Thirty thousand research papers on Coulomb triggering is enough; it’s time this was part of the insurance arsenal.’ We are glad they seized on this opportunity.”
Commenting on joining the Willis Research Network, San Diego State University Professor Kim Olsen said, “We are excited to have the opportunity to join the Willis Research Network and apply our three-dimensional ground motion models in the insurance industry. More accurate hazard estimates benefit everybody, including public awareness on earthquake effects, guidance on ground-shaking magnitude in future events, and eventually improved recommendation on insurance levels based on risk assessment.”
Rosa Sobradelo, senior research manager for the Willis Research Network, added, “It is a huge pleasure to be able to welcome both Temblor and San Diego State University to the Willis Research Network. Both institutions have proven records in delivering research that is of considerable interest to our industry. The Willis Research Network continues to support work with leading researchers across the globe to improve risk decision making across the industry.”
About Willis Research Network
The Willis Research Network is an award-winning collaboration between academia and the finance and insurance industries. Since it was founded in 2006, the Willis Research Network has explored ways in which the world’s leading research organisations can help confront the challenges of managing risk and delivering resilience for our industry, providing a transmission mechanism for delivering research impact into the global re/insurance industry. Through the Willis Research Network, Willis Towers Watson has teamed up with more than 50 world-leading institutions pioneering science and new analytical approaches to traditional problems of greatest relevance to our clients and our industry. Learn more at www.willis.com/willisresearchnetwork.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas— the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.
Temblor, Inc. is a tech company founded in 2014 that enables homeowners, building owners and renters to understand their quake risk, and inspires them to reduce it through preparation, retrofit and insurance. The Temblor mobile and web app provides users everywhere on Earth with free, ad-free and reliable information about earthquakes, landslides, floods, liquefaction and tsunamis that could affect them — all in an intuitive app. In the U.S., the app offers financial and safety estimates and connects users to local insurance agents, retrofit contractors and quake prep consultants: www.temblor.net
About San Diego State University
San Diego State University is a major public research institution that provides transformative experiences, both inside and outside of the classroom, for its more than 36,000 students. The university offers bachelor’s degrees in 95 areas, master’s degrees in 78 areas and doctorates in 22 areas. Students participate in research, international experiences, sustainability and entrepreneurship initiatives, internships and mentoring, and a broad range of student life and leadership opportunities. The university’s rich campus life features opportunities for students to participate in, and engage with, the creative and performing arts, a Division I athletics program and the vibrant cultural life of the San Diego region. For more information, visit www.sdsu.edu.
Annie Roberts: +44 20 3124 7080 | Annie.Roberts@willistowerswatson.com