Aon has announced a multi-year collaboration with Asia Pacific climate data and analytics provider AbsoluteClimo to advance modelling for climate-related perils and help organisations navigate emerging volatility. 

The company says data provided by AbsoluteClimo’s global climate physics and catastrophe machine-learning models will help to “inform the view of Aon catastrophe modelling teams”. 

“Our proof of concept collaboration with AbsoluteClimo is enabling us to test how climate risk is evaluated,” Aon Reinsurance Solutions Head of APAC Analytics Peter Cheesman said. 

“We are working on modelling enhancements for our clients and anticipate this collaboration will continue to provide comprehensive analyses and forecasts of significant and costly perils in the Asia Pacific region.” 

AbsoluteClimo CEO and Climatologist Brendan Lane Larson says the arrangement will see the firm’s technology used to the benefit of the insurance industry. 

“Through this collaboration, we anticipate further innovation in our capabilities as we help each other progress our own understanding of risk through advanced data and analytics,” he said. 

AboluteClimo, headquartered in Hawaii, was founded in 2016 and works across many sectors including financial services, energy, agriculture, health and tourism.