Allianz Commercial has launched Climate Adaptation & Resilience Services, a platform that allows businesses to evaluate how natural disasters will affect their assets today and in the future. The data-driven platform models changes in risk exposure for various perils over different time horizons and climate scenarios aligned to United Nations IPCC guidelines, the company said in a news release.
The platform addresses growing challenges from climate-related natural catastrophes, which caused $327 billion in overall losses and $138 billion in insured losses in 2024, according to a report. CAReS offers a self-serve tool and tailored consultancy services to help businesses proactively manage and mitigate their climate risk exposures, the insurer said.
“The question is not if a company is affected by climate risks in the future, but when it will happen,” Michele Williams, global head of Allianz Risk Consulting at Allianz Commercial, said in a news release. “No industry is immune to risks such as floods, droughts, storms or fires.”
The platform allows companies to perform climate risk assessments and identify high-risk exposures for key assets including their own locations, new investments and supplier locations. CAReS provides risk scores for 12 perils including tropical storms, floods, hail, wildfire and extreme heat across four timelines: present day, 2030, 2050 and 2080.
