FIS has announced the launch of its Climate Risk Financial Modeler. The new SaaS risk offering aims to help businesses across all industries better assess, reduce and report their exposure to the physical risks of climate change.
By unlocking FIS’ powerful risk modelling and insurance analytics, FIS Climate Risk Financial Modeler harmonises client data with third-party climate data and is hosted on a new interface that is directly tailored to the risk management needs of corporates and financial institutions, ultimately seeking to drive more proactive foresight into potential climate-related risks.
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JP James, Head of Treasury and Risk at FIS, said: “The launch of the FIS Climate Risk Financial Modeler is the latest chapter in our long history of market-leading risk management software and services throughout the money lifecycle.
“Corporate climate risk and the related regulatory pressures are becoming increasingly important for executives and risk managers of all levels and across all industries. With this launch, FIS is building on our best-in-class insurance risk application capabilities to respond to the challenges our clients face in understanding the potential impacts of climate change on their business.”
Climate change and its effects are estimated to cause between $1.7trn and $3.1trn in damages per year
This includes damage to infrastructure, property, agriculture and human health, by 2050. Corporations of all sizes and across all industries are expected to be affected, and regulators around the world have been increasing their climate-related reporting and stress-testing requirements as a result.
By adopting FIS’ Climate Risk Financial Modeler, clients can gain a meaningful assessment of their operations, investments, and strategic positioning from a climate risk perspective, as well as efficiently support their climate-related regulatory compliance.
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By GlobalDataWith FIS’ Climate Risk Financial Modeler, users can perform powerful modelling on various weather-related perils at both local and global levels, project potential financial losses from severe weather events, and determine the effects of climate change on their operations.
