Howden launches the Resilience Laboratory
Insurance broker Howden has launched a new platform to aid clients in assessing and managing climate risks.
Called Howden Resilience Laboratory, the platform leverages Microsoft’s technology to offer data-driven solutions for hurdles related to climate change.
The Resilience Laboratory, created by Howden and powered by Microsoft cloud services including Azure, Microsoft 365, and Dynamics 365, allows clients to model climate scenarios and evaluate their financial impacts.
It works by converting vast amounts of complex data – encompassing environmental, societal and financial information – into actionable insights, helping asset owners, investors and other stakeholders better understand and manage climate risks to enhance their resilience and decision-making.
Specifically, Howden’s new platform identifies residual risks to clients’ operational and financial performance, while also designing relevant insurance solutions.
Clients can use the platform to create customized ‘what-if’ models to simulate potential outcomes of strategic decisions such as mergers, decarbonization efforts or geographic expansions.
The Resilience Laboratory also promises to offer investment and insurance strategies that are optimized to factor in hazards, exposure and vulnerability changes.
Additionally, the platform assesses the financial advantages of resilience investments, covering areas such as supply chains, biodiversity and social impacts.
“Asset owners, investors and wider stakeholders face evolving and complex pressures from risks related to climate change. This collaboration with Microsoft allows us to create a world-class innovation hub powered by data, AI and computation to model climate scenarios and assess financial impacts, which will enable strategic and confident investment decisions that protect assets and businesses. Together with Microsoft, we will continue to integrate insights and collaborate with other data partners and researchers to help scale and build the tools and capabilities to de-risk financing decisions and accelerate the transition to a more resilient world.” – Howden CIO Lyn Grobler.
