WTW, a global advisory, broking, and solutions company, has launched a geopolitical risk research programme to focus on what businesses can do to manage these threats.
The three-year programme will be coordinated by the WTW Research Network and will bring together world experts with the goal of building resilience against escalating threats.
The programme will apply war-gaming and scenario planning to test the vulnerability of organisations to changing geopolitical drivers of risk, identify their insurance gaps and improve resilience.
As governments around the world continue to deal with the ramifications of Covid-19, WTW said a rapidly escalating geopolitical storm of political, economic and social disruptors is challenging established international systems and leading to increasing turbulence across the full risk landscape.
The objective of the research programme will be to focus on some of the most important issues in the geopolitical space. The project will explore the changing relationship between the US and China, as well as impacts on the international supply chain, trade blocs and international institutions.
The research programme will also look at how grey-zone aggression and cyber threats are increasingly being used to achieve geostrategic objectives, with ramifications for the application of international law and insurance contracts.
Jo Holliday, global head of crisis management, said, “The geopolitical landscape is increasingly complex, nuanced and systemic. With the Western world’s attention on Ukraine and Russia, electoral tensions in Sri Lanka, Brazil and the Democratic Republic of Congo continue to highlight the growing security and political stability risks spreading across other regions.
“Geopolitical risk is of increasing concern to our clients and in-depth research initiatives such as this enables them to understand the risks associated across crisis management and geopolitical tensions.”
Hélène Galy, head of the WTW Research Network, added “Internal polarisation is being exacerbated by sharply rising costs of living, and risks weakening the decision-making abilities of many western countries and corporates, emboldening alternative visions on national governance.
“By working with world-class industry specialists through our partnership with the American Enterprise Institute (AEI) based in Washington and the New-York-based Center on U.S.-China Relations at Asia Society we can help our clients understand the impact of geopolitical actions.”
WTW recently partnered with property & casualty insurer IMT Insurance to implement an SaaS solution.
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