AXA XL unveils new environmental risks service

AXA XL Risk Consulting has today announced the launch of a new risk assessment service designed to help companies identify and mitigate pollution and environmental risks.

Available in Europe and the UK, the solution leverages machine learning and artificial intelligence applications to turn environmental and climatological data from a variety of sources into actionable risk insights.

Dr. Dominik Scheiben, senior casualty risk consultant, said: “To understand environmental exposures, risk managers have to consider four critical dimensions: the source of a potential pollution, the pathway a pollutant could travel, what it could impact and the baseline conditions of the company’s site or sites.

“Our new tool leverages datasets from public agencies, streamed data from sensors or meters, satellite imagery and customer-specific information to map out all of these dimensions and to help companies understand where they need to focus their risk management efforts”.

Available through AXA XL’s Risk Scanning service, the tool allows risk managers to generate assessments of their company’s sites by region, country or environmental peril to better understand their exposures and to implement proportionate risk management and risk transfer measures.

Image courtesy: CHAS

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