FIS announced the launch of its Climate Risk Financial Modeler. The new SaaS risk offering aims to help businesses across all industries better assess, reduce and report their exposure to the physical risks of climate change. By unlocking FIS?

powerful risk modeling and market leading insurance analytics, FIS Climate Risk Financial Modeler harmonizes client data with third-party climate data and is hosted on a new interface that is directly tailored to the risk management needs of corporates and financial institutions?ultimately seeking to drive more proactive foresight into potential climate-related risks. According to the World Economic Forum, climate change and its effects are estimated to cause between $1.7 trillion and $3.1 trillion in damages per year, including to infrastructure, property, agriculture and human health, by 2050. Corporations of all sizes and across all industries are expected to be affected, and regulators around the world have been increasing their climate-related reporting and stress testing requirements as a result.

By adopting FIS? Climate Risk Financial Modeler, clients can gain a meaningful assessment of their operations, investments, and strategic positioning from a climate risk perspective, as well as efficiently support their climate-related regulatory compliance. With FIS?

Climate Risk Financial Modeler, users are able to perform powerful modeling on various weather-related perils at both local and global levels, project potential financial losses from severe weather events, and determine the effects of climate change on their operations. The solution makes use of powerful data from PwC US, combined with readily available information on a firm?s physical assets?such as its buildings and contents?along with global climate data, and performs relevant calculations.