Willis partners with Polecat Intelligence on emerging risks

Broker Willis Towers Watson has partnered with social business intelligence and data analytics company Polecat Intelligence to tackle emerging risks.

Under the partnership, the two companies will develop insurance solutions to enable organisations to better respond to the increasingly complex and interconnected challenges. It aims to help companies with their risk mitigation strategies and transfer mechanisms.

Willis Towers Watson will utilise Polecat’s artificial intelligence and machine learning technologies to provide real-time risk insight from unstructured data.

Polecat data will support Willis Towers Watson solutions in areas such as life sciences, reputational and product recall risk as well as D&O.

Garret Gaughan, head of global markets P&C hub at Willis Towers Watson, said: “Information and the way that people access it to develop their perception of an organisation or situation has changed radically, for both the private and public sector. Organisations find themselves in a volatile and dangerous reputational environment.

"The partnership with Polecat enables Willis Towers Watson to offer Clients real-time insight to public opinion through analysis of social media. By working with a partner able to analyse unstructured data in real time we are able to design and implement risk mitigation mechanisms for our Clients.”

James Lawn, co-CEO of Polecat, added: “Polecat exists to provide foresight for Corporate Boards and Executive Leadership teams to make better decisions on emerging risks and opportunities. Our partnership with Willis Towers Watson is ground-breaking bringing world-class risk transfer together with market-leading Artificial intelligence and Machine Learning to provide real-time risk insights from the world of unstructured data.

"Corporate Boards and Executive Leadership teams are looking for insurance and technology that enables them to manage and mitigate their emerging risks that impact their business landscape, the global economy and the world around us. In partnership with Willis Towers Watson and Polecat, we can do this.”

John Ludlow, CEO of Airmic, commented: “The partnership between Willis Towers Watson and Polecat, signals a new generation of innovative risk management solutions combining AI-powered data analytics, consultancy and insurance in one place. For organisations of all types, there is an increasing recognition by executives and boards of reputation as one of the greatest strategic risks, and solutions like this will be critical to protecting and maintaining intangible asset value.”