Global professional services company Towers Watson has launched a new predictive modeling software, Sunstone, designed to assess terrorism risk during RIMS 2013 Annual Conference held in Los Angeles, US.
Capable of providing both insurers and non-insurers with a better understanding of their terrorism risk exposure, the Sunstone software provides clarity and transparency to the challenging field of terrorism analytics.
Towers Watson Crisis Management group managing director Paul Bassett said, "Sunstone is the first major entry to the market in some time it is a significant step forward."
Designed to predict a broad range of attack types, Sunstone allows users to adjust threat-weighting inputs in accordance with the sensitivity of specific types of attack, the geographic balance of a company's operations and its broader risk appetite.
Crisis Management consulting director Chris Holt said, "Our focus has been on creating a product that considers the broad scope of both known and emerging threats, and reflects the complex and changing nature of global terrorism for a wide range of clients."
Additionally, the terrorism risk modeling software enables cost-severity factors to be varied for analyses of life and workers compensation portfolios.
