Global insurance broker Howden has launched a new platform designed to assist clients in evaluating and addressing climate-related challenges.
The Howden Resilience Laboratory, powered by Microsoft’s advanced technology, offers data-driven solutions to navigate the complexities of climate change.
Leveraging Microsoft cloud services such as Azure, Microsoft 365, and Dynamics 365, the Resilience Laboratory enables clients to model various climate scenarios and assess their potential financial implications. By transforming vast amounts of environmental, societal, and financial data into actionable insights, the platform empowers asset owners, investors, and other stakeholders to make informed decisions and enhance their resilience.
Howden’s innovative platform identifies residual risks to clients’ operational and financial performance while also developing tailored insurance solutions. Clients can utilize the Resilience Laboratory to create customized ‘what-if’ models, simulating the potential outcomes of strategic decisions like mergers, decarbonization initiatives, or geographic expansions.
Furthermore, the platform offers investment and insurance strategies optimized to consider changes in hazards, exposure, and vulnerability. By evaluating the financial benefits of resilience investments, including those related to supply chains, biodiversity, and social impacts, the Resilience Laboratory provides valuable guidance for businesses navigating the evolving climate landscape.
Commenting on the launch, Howden CIO Lyn Grobler, said: “Asset owners, investors and wider stakeholders face evolving and complex pressures from risks related to climate change. This collaboration with Microsoft allows us to create a world-class innovation hub powered by data, AI and computation to model climate scenarios and assess financial impacts, which will enable strategic and confident investment decisions that protect assets and businesses.”
Grobler added: “Together with Microsoft, we will continue to integrate insights and collaborate with other data partners and researchers to help scale and build the tools and capabilities to de-risk financing decisions and accelerate the transition to a more resilient world.”
