• Natural disasters have increased five-fold over the last 50 years, costing businesses billions in damages and business interruption.
• Allianz Commercial’s new CAReS platform allows businesses to evaluate how natural perils will affect their assets today and in the future, modeling the change in risk exposure for a range of perils over different time horizons and climate scenarios aligned to the United Nations IPCC.
• CAReS gives access to a self-serve tool and tailored consultancy services to help businesses proactively manage and mitigate their climate risk exposures.

Climate change is having a severe impact on economies around the world, all businesses are affected. In 2024, the overall losses from climate-related natural catastrophes such as flood, windstorm, or hail summed up to US$327 billion, while insured losses reached US$138 billion. To address these growing challenges, Allianz Commercial today launched its Climate Adaptation & Resilience Services (CAReS). The data-driven platform has been developed together with Allianz clients and allows them to directly identify potential high-risk areas and how climate risks from 12 perils will affect their locations from present day up to the year 2080.

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Allianz CAReS' 5 Steps to Help Companies Assess and Manage Climate Risks

“The question is not if a company is affected by climate risks in the future, but when it will happen. No industry is immune to risks such as floods, droughts, storms, or fires. We all remember the severe consequences from events such as the LA wildfires or Hurricanes in the US. Businesses are interrupted, and economic and insured losses are exploding into hundreds of billions of US-Dollars per year. Therefore, it is so important to understand climate risks and your exposure to them. This is why we developed CAReS, so our clients have the option to address and mitigate their risks as well as to avoid surging insurance costs in the future”, explains Michele Williams, Global Head of Allianz Risk Consulting (ARC) at Allianz Commercial.

CAReS is a data-driven platform combined with tailored risk consulting expertise

CAReS translates physical climate risks into financial and physical loss metrics at portfolio and location level and helps businesses to manage these risks with resilience consultancy. The data-driven platform allows companies to perform climate risk assessments to identify and prioritize high climate risk exposures for their key assets including own locations, new investments and supplier locations. In a five-step process, they can understand their climate risks and their impact on their assets. Furthermore, businesses can identify and prioritize highly exposed locations in a dashboard solution with different risk scores for 12 perils, including tropical storms, floods, hail, wildfire or extreme heat. Four different timelines are available: present day, 2030, 2050, and 2080. This allows businesses to directly address potential risks as well as financial impacts in the future and mitigate them, working closely with ARC experts. CAReS is the first in a set of solutions and offerings Allianz Risk Consulting is planning to launch this year as part of a new strategic positioning which emphasizes the relevance of resilience.

“Resilience is a journey, not a destination. By proactively managing climate risks you can mitigate potential disruptions to your business and stay one step ahead. This is a win-win situation for Allianz Commercial as an insurer as well as for the client who can reduce its climate risks and potential losses in the future”, says Michael Bruch, Head of Global ARC Advisory Services at Allianz Commercial.

You can find more information here.

About Allianz Commercial

Allianz Commercial is the center of expertise and global line of Allianz Group for insuring mid-sized businesses, large enterprises and specialist risks. Among our customers are the world’s largest consumer brands, financial institutions and industry players, the global aviation and shipping industry as well as family-owned and medium enterprises which are the backbone of the economy. We also cover unique risks such as offshore wind parks, infrastructure projects or film productions. Powered by the employees, financial strength, and network of the world’s #1 insurance brand, we work together to help our customers prepare for what’s ahead: They trust us in providing a wide range of traditional and alternative risk transfer solutions, outstanding risk consulting and Multinational services as well as seamless claims handling. Allianz Commercial brings together the large corporate insurance business of Allianz Global Corporate & Specialty (AGCS) and the commercial insurance business of national Allianz Property & Casualty entities serving mid-sized companies. We are present in over 200 countries and territories either through our own teams or the Allianz Group network and partners. In 2024, the integrated business of Allianz Commercial generated around €18 billion in gross premium globally. https://commercial.allianz.com/

These assessments are, as always, subject to the disclaimer provided here: Cautionary Note Regarding Forward-Looking Statements

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