Data-Driven Business Models: Challenges and Opportunities of Big Data
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Next Generation Research and Innovation Networks
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Within these Pillars, WRN Research Hubs cover major areas such as Flood Risk, Financial Stability & Regulation and High Performance Computation. Hubs manage the WRN's Research Programmes that address the subjects that the WRN's stakeholders have identified as priorities such as Global Flood Modelling, Insurance Regulation, or Credit Risk.
The Research Programmes drive WRN Research Projects producing the academic and industrial Research Outputs. Outputs include: data, models & applications, peer reviewed journal articles, financial instruments and products or meetings and conferences.
Pillars, Hubs, Programmes and Projects are managed by WRN personnel linking teams from members institutions across the Network, Willis and industrial partners
The Willis Research Network's ultimate value derives from the impact Research Outputs produce within industrial, financial, scientific and public policy to support resilience and sustainable growth.
Economic Capital describes the risk-adjusted financial value of institutions and related decision-making. Economic Capital Modelling underpins this process with a growing influence over management, operations and oversight of insurance companies and other public and private institutions.
Around half of the world’s $200 billion annual global reinsurance premiums are spent on protection against natural hazards; the solvency capital charge for most non-life insurance companies under regulatory frameworks is strongly influenced by exposures to natural catastrophe risk and insurance companies are sensitive to their relative financial and customer performance when natural disasters occur. In response to this importance, natural hazards and risk are a significant priority for the Willis Research Network.
The Willis Research Network, combines with Willis Group's wider expertise in response to a wide range of risks beyond natural hazards. The coverage is extensive, but ultimately these classes of risk are integrated into similar types of analytical platforms, financial modelling tools and decision support systems employed to evaluate and manage natural catastrophe risks.
Much of the WRN programme is mediated through the modelled world and this environment rests upon a platform of technology, information and methods which underpin and enable research and operational services. The development of core technologies and methods is a primary aim of the Network and a specific reason for integrating public science with the industry so opportunities afforded by fundamental breakthroughs and facilities can be translated into innovation quickly and efficiently.