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Mastering the Modelled World

Computer based modeling is the pervasive platform for analysis, communication and decision making across science, finance, industry and public policy. Models are practical, useful and in many senses indispensable. They have become the operational tools to assess, evaluate, manage and regulate insurance risk.

This revolution has undoubtedly brought significant benefits across many disciplines, including insurance. But the risks and dangers of a naïve dependency upon models and modelling have become clear, not least in selected financial markets.

The Willis Research Network was created to help Willis, the insurance industry and wider stakeholders develop a more balanced and mature use of models. By combining public science and industrial communities the WRN provides openness, expert interpretation and academic rigor to guide the development, use and consumption of risk models and outputs to support sensible decision making.

About WRN

As economic, social and environmental uncertainties increase, institutions and populations seek greater resilience to support sustainable growth. Science and insurance lay at the heart of understanding, managing and sharing these risks, building more secure futures at local and global scales.

The Willis Research Network (WRN) operates across the full spectrum of risk from natural catastrophe, to legal liability, financial and security issues linked across driving themes: Resilience, Security & Sustainable Growth; Managing Extremes; Insurance & Risk Management and Mastering the Modelled World.

All Members and activities are united by a common aim: improving resilience by integrating first class science into operational and financial decision-making across public and private institutions.

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Fast Facts

  • The WRN was formed in September 2006 to support leading academic research into extreme events, with a specific focus on responding to the challenges faced by businesses, insurers and governments
  • The WRN's membership spans the globe, counting more than 50 world-class universities, scientific research organisations and public policy institutions
  • Collectively, our members have published more than 100 papers in leading scientific journals
  • Nearly all of the WRN's research is freely available to the public and can be downloaded on our website

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