Global brokerage WTW and US-based Risk and Insurance Management Society (RIMS) are teaming up to help organisations in the Asia Pacific manage “high impact” threats such as climate, geopolitics and cyber.

They announced the collaboration last week and to kick off the initiative, the first RIMS-WTW Asia Pacific Risk Conference will take place next month over three days from April 26-28.

The virtual conference will feature risk management professionals, business strategists and government officials.

“As the coronavirus becomes endemic, a broad set of societal risks have become ever-present in business decision-making for all organisations today,” WTW Head of Corporate Risk & Broking, Asia and Australasia Simon Weaver said.

“High impact risks such as climate, geopolitics, health, financial, supply chain, technology/cyber and human capital are likely to continue to increase in frequency and with simultaneous occurrence.

“Business leaders and risk managers need to stay vigilant, rethink their approach and raise their game in being able to respond to both threats and opportunities in an agile and timely way while continuing to maintain core business operations.”

Mr Weaver, who is also Head of Australasia, says it is important for organisations in the region to adopt a culture of “adaptability” and be ready to act decisively when needed.

The RIMS-WTW Asia Pacific Risk Conference is centred around the theme “Risk Resilience Reimagined”. Participants can expect insights and discussions on pressing topics such as large complex risks faced by Asia Pacific companies, organisational resilience in a hybrid work environment and mitigating business interruptions from supply chain risks.