IAG’s “groundbreaking” Global Risk Map has been unveiled as the latest weapon in the battle to secure investment in pre-disaster resilience.

The insurer released the technologically advanced platform at the International Insurance Society’s Global Insurance Forum in New York last week.

Chief Strategy Officer Leona Murphy told insuranceNEWS.com.au that while many disaster risk maps are already available, IAG’s offers something different.

“Most focus on economic impact, but ours looks at social impact too. And it’s overlaid with insurance data, so you can see the penetration of insurance in certain areas.”

She says this combination of information identifies the most vulnerable communities, enabling risk-reduction measures to be more effectively targeted.

The map highlights devastation caused by cyclones, floods, earthquakes and related perils over the past 115 years.

It is an open platform, and Ms Murphy believes non-governmental organisations, governments, businesses and communities will be among other users.

The tool is part of the IAG-led Global Resilience Project – a three-phase commitment to the United Nations-endorsed Principles for Sustainable Insurance initiative.

The project took its inspiration from the Australian Business Roundtable for Disaster Resilience & Safer Communities, which sparked a national conversation about the imbalance in spending between disaster recovery and disaster risk reduction.

Insurance News is a media sponsor of the IIS Global Insurance Forum.