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Published on Sep 13, 2011
The judges were “adamant” that the award could only go to the WRN, which has grown to become the world’s largest collaboration between public science and the finance and insurance industries.
Judges for the awards hosted by The Review magazine were impressed by the breadth of research the WRN undertakes, ranging from natural catastrophe risk, to economic capital modelling, risk transfer and core technologies such as high performance computation and geospatial science. They specifically highlighted the Network’s “close collaboration with clients, and its understanding of their business, and the challenges that they face”.
Commenting on the award, Rowan Douglas, CEO, Global Analytics, Willis Re and Chairman, Willis Research Network, said: “There is a revolution underway in re/insurance analytics as the market becomes driven more and more by the modelled world of risk, capital and regulation. I’m delighted that Willis and the Willis Research Network have been recognised, again, as the leading force in helping insurers master and take advantage of this new landscape.”
The award coincided with a WRN Seminar in Paris to introduce two new French members of the Network. Award-winning climate scientist Professor Jean Jouzel and Professor Hervé Le Treut from Institute Pierre Simon Laplace (IPSL) presented their views on climate change and its impact on extremes events, while Professor Hormoz Modaressi and Dr Sylvestre Le Roy from French geosciences leader Bureau de Recherches Géologiques et Minières (BRGM), discussed their research on tsunami, coastal flood and subsidence. Deputy managing director of Caisse Centrale de Réassurance, Pierre Michel, also presented. The event, chaired by Luc Malâtre and Emmanuel Figuereau of Willis Gras Savoye Re, brought together an audience of 200 insurance and reinsurance industry leaders.
Dr Gero Michel, Managing Director, Willis Research Network, said: “We are delighted and privileged to count such renowned institutions as IPSL and BRGM as part of the Willis Research Network. They will make an enormous contribution to our research and industrial innovation in catastrophe risks in France, and across our global network.”
Through its partnerships with more than 50 of the world’s leading universities and research institutions in North America, Asia Pacific, Europe and Latin America, the WRN delivers leading edge solutions to the challenges confronting business, governments and society.
Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at www.willis.com.