What's Happening?
Willis, a division of the broker WTW, has announced the establishment of a Global Risk Engineering team as part of its Global Risk & Analytics business expansion. This initiative aims to consolidate and elevate Willis's engineering capabilities, enhancing its ability to deliver industry-leading specialization through proprietary data, advanced analytics, and technology-enabled solutions. The team will provide both single-site and portfolio-level assessments, offering clients deeper insights, greater resilience, and measurable improvements in their total cost of risk (TCOR). With nearly 200 risk engineers operating across 30 countries, including North America, Willis combines global expertise with local specialization to support multinational and large organizations. The new proposition aligns proprietary data sets with specialized capabilities, optimizing risk management strategies and maximizing clients' return on investment.
Why It's Important?
The launch of Willis's Global Risk Engineering team is significant for industries seeking to navigate emerging risks, ESG and climate goals, and broader strategic challenges. By offering tailored, data-enabled solutions, Willis enhances its clients' ability to manage risks effectively, improve resilience, and make informed decisions. This development is crucial for organizations aiming to lower their TCOR and improve risk quality. The initiative reflects a growing trend in the industry towards integrating advanced analytics and technology to address complex risk management needs. As businesses face increasing pressure to meet environmental and governance standards, Willis's approach provides a competitive edge in risk management.
What's Next?
Willis's Global Risk Engineering team is expected to continue expanding its capabilities and reach, potentially influencing industry standards in risk management. As the team integrates more advanced analytics and technology, it may set new benchmarks for risk engineering solutions. Organizations utilizing Willis's services could see improved resilience and risk management outcomes, prompting other firms to adopt similar strategies. The focus on ESG and climate goals may also drive further innovation in risk management practices, aligning with global sustainability efforts.
