Luxembourg-based climate insurer IBISA launches a new product that makes weather simulations more accessible to everyone.
As climate change continues to increase the prevalence of extreme weather events, companies are looking for ways to better anticipate and react to the risks they pose.
Even Luxembourg, a relatively sheltered and safe country, is not exempt from future extreme weather events. Indeed, on July 14th, 2021, heavy rainfall wreaked havoc on Luxembourg and its neighbours, leading to billions of euros in losses.
To help businesses better anticipate such weather-related risks, IBISA has developed The Weather Simulator (TWS) as a standalone product.
“We have modelled 42 years of historical weather data to construct a statistical model that attempts to replicate the pattern of the weather data. Thanks to the tool, TWS provides the answers you need to prepare for extreme weather events and protect your business.”
Jean-Baptiste Pleynet, Co-Founder and COO IBISA
Previously active in the insurance domain, IBISA have repurposed their tools and pricing of weather events to launch The Weather Simulator capable of estimating the probability and return periods of weather events based on historical data from any region in the world.
Not only can TWS help budget and plan activities affected by weather risks for various industries such as agriculture, construction and transportation, but it can also support research and development of new products and technologies that are sensitive to weather conditions. Additionally, it can help in the decision-making process regarding long-term investments and operations.
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