Aon is expanding its Climate Risk Monitor solution to include the quantification of tropical cyclone and flood risks, an enhanced user interface, and direct client access. The company announced the update on Wednesday (14 May), adding that the tool now incorporates risk assessments based on location occupancy types.
Introduced in 2024, Climate Risk Monitor provides in-depth analyses of climate impacts on a variety of chronic and acute hazards. Its functions include the identification of clients’ riskiest individual locations and geographical concentrations of risk, analysis of the most impactful perils on individual assets and portfolios, geographical visualisations of changing risk, and risk assessment methodologies and uncertainty measures for regulatory and reporting purposes.
The tool is designed to help clients evaluate a range of environmental threats and integrate this information into their risk management frameworks.
Liz Henderson, Global Head of Climate Risk Advisory at Aon, said: “The enhanced features of Aon’s Climate Risk Monitor provide unparalleled insights into the potential impacts of these events, enabling businesses to make informed decisions and build resilience against future climate-related challenges.”
This expansion follows Aon’s December 2024 collaboration with flood expert Fathom, which improved the solution’s ability to produce forward-looking flood risk projections across different emissions scenarios.
Aon has estimated that global insured losses from natural disasters in 2024 reached approximately US$145bn.
