AXA XL launches new service to help mitigate environmental risks in UK and Europe
AXA XL Risk Consulting has announced the launch of a new risk assessment service designed to help companies identify and mitigate pollution and environmental risks in Europe and in the UK.
The solution combines the expertise of AXA XL’s risk consultants, machine learning and artificial intelligence applications to turn environmental and climatological data from a variety of sources into actionable risk insights.
Available through AXA XL’s Risk Scanning service, the tool allows risk managers to generate assessments of their company’s sites by region, country or environmental peril to better understand their exposures and to implement risk management and risk transfer measures that appropriately match their needs.
Dr. Dominik Scheiben, Senior Casualty Risk Consultant, explained: “To understand environmental exposures, risk managers have to consider four critical dimensions: the source of a potential pollution, the pathway a pollutant could travel, what it could impact and the baseline conditions of the company’s site or sites.”
He added: “Our new tool leverages datasets from public agencies, streamed data from sensors or meters, satellite imagery and customer-specific information to map out all of these dimensions and to help companies understand where they need to focus their risk management efforts”.
Jonathan Salter, Global Head of AXA XL Risk Consulting, commented: “This new capability not only allows our clients to leverage new data sources, but more importantly to overlay seamlessly data from a multitude of sources to generate a more granular view of their exposures.”
He further explained: “For a company to limit its environmental impact should an incident occur, understanding the risk and implementing appropriate mitigation strategies are critical.”
Authored by AXA XL
About AXA XL
AXA XL is the P&C and specialty risk division of AXA which provides property, casualty, professional and speciality products to industrial, commercial and professional firms, insurance companies and other enterprises, here in the UK and throughout the world. With underwriting teams based in the US, UK, EMEA and Asia Pacific regions, we can make decisions close to the markets you serve and work with you to tailor cover to your business needs.
We help businesses adapt and thrive amidst change. Rather than just paying covered claims when things go wrong, we go beyond protection into prevention so your business can go beyond the unexpected.