
Science for a smarter way to risk Our aim is not merely toturn science into useabledata and information thatfeeds into risk models, butalso to use our improved yetimperfect knowledge wiselyto support risk decisions. 3/ Emerging risks20 1/ Introduction03 About us04How it works05Interconnected research06WTW Research Network partnersover the years07Our history08 4/ Technology overview23 5/ People and political risk26 6/ Organizational resilience29 7/ Weather and climate32 2/ Specialized industry approach to risk09 8/ Flood and water management35 Aerospace04 9/ Earth risks38 Marine08 10/ Risk modeling41 Natural resources, chemicals andenvironmental services10 Testimonials44 Real estate, hospitality and leisure12 Retail and distribution13 Publications47 Technology and telecommunications14 Transportation and logistics15 Introduction This publication provides an overviewof how WTW is applying leading-edgeresearch to support a smarter way torisk across industries. Despite our progress since 2006, we are all too awareof the remaining “knowledge–action” gap, whichis pushing leading scientists to civil disobedience,to get their voices heard. The words of Russian-American biochemist and science-fiction writerIsaac Asimov ring particularly true these days: “Thesaddest aspect of life right now is that science gathersknowledge faster than society gathers wisdom.” While we embrace the complexity of science, theWTW Research Network (WRN) strives to identifyand communicate key risk insights in a simple andrelevant way, to support risk management andstrategy decisions. We hope that the overview ofour research portfolio and the industry-specificpractical examples of applied research providea clear view of the risk topics we are focusingon and that something grabs your attention. This is a reminder that the aim of our researchportfolio is not merely to turn science into useabledata and information that feeds into risk models, butalso to use our improved yet imperfect knowledgewisely. Wise usage of scientific knowledge iscritical for public understanding and sound policy/strategy for today’s key challenges — from humanhealth to climate action to food security. Morethan ever, the researchers who make up the WRNare eager to understand how their work interactswith the real economy and how they can lend theirexpertise to a more resilient future for all. You canread some of theirTestimonialsin this review. The breadth of our research topics gives an idea of ourconcern about the current state of the world: 1.alongside a range of geohazards, all aspects ofclimate change, not just acute physical risks butalso relentless chronic risks, and not just physicalrisks but also climate transition risks and climatechange’s impact on water and food security;2.the gray zone between war and peace (whichchallenges corporate geopolitical neutrality);3.trust in technology;4.vulnerabilities of supply chains;5.growing regulatory emphasis on emerging risks;and6.our belief that organizational resilience needs tocomplement the traditional risk view. We extend our renewed thanks to all our researchpartners for keeping the faith in the power ofapplying science, and to our enthusiastic WRNteam and curious colleagues, without whom wecould not bridge the knowledge–action gap. It is aprivilege to work with so many talented people andharness their innovation to support lives, livelihoodsand assets in the volatile decade we are in. Hélène GalyWTW Research Network Director +44 (0) 20 3124 8520helene.galy@wtwco.com About us The WTW Research Network is a well-established, not-for-profit, award-winningcollaboration between science and theinsurance, finance and risk managementsector, going back to 2006. Long-termpartnerships with more than 60 researchorganizations across the world help usconfront the full spectrum of risks facingour societies. Global partners,local expertise The WTW Research Network isorganized around seven researchhubs, which drive a number ofresearch programs and researchprojects, producing academicand business-focused researchoutputs along a wide spectrum:insights, data, models, peer-reviewed journal articles, financialinstruments and seminars.These seven specialisms arelinked by our focus on theinterconnectedness of risksin the real world, providing anintegrated view of risk. We drive research with partnersin science, academia, think tanks and theprivate sector, combining specialist expertisewith knowledge across our global network. Innovative, long-termpartnerships Our mission is to encourage and support innovativeresearch to gain the clarity of vision required toturn risks into opportunities. We aim to improve ourunderstanding of a wide range of risks and use thisoperationalized research to craft better risk solutions,help clients and society become more resilient andtake advantage of sustainable growth opportunities. We form long-term, innovativepartnerships with the research community and support early-ca