The Willis Towers Watson Power and Utilities team comprises over 200 experts including transactional, technical, claims, wording and engineering specialists. They provide a complete risk management, risk transfer and in-house claims service, built around a deep understanding of all aspects of the industry. Located primarily in hub offices in London, North America and the Asia Pacific region, they understand the challenges facing your industry and have market leading sector experience in harnessing risk identification, retention and mitigation tools to traditional risk transfer solutions.
Our 'Atlas' geospatial and other risk management systems, together with comprehensive analysis of your physical, financial and third party exposures, can enhance your own understanding of your risks and business sector. Through Willis Towers Watson's industry benchmarking, we are able to guide our clients through a variety of risk management approaches employed across the wider industry sector to enable them to make the most informed risk decisions. Publications such as the market-leading Natural Resources Market Review give you in-depth analysis of issues affecting the Power and Utilities sector.
Helping our clients to control and effectively manage their evolving risk and regulatory challenges is at the core of our proposition. Many of our clients operate some of the largest and most complex programs in the Power sector and do business in some challenging territories and environments. Indeed, the global Power & Utilities sector is facing unprecedented challenges as traditional business models are increasingly threatened by significant change:
Our specialists have the experience, industry expertise and training to deliver clear guidance, at speed. Wherever a client may be in the exploration, production, construction or operational life cycle, we ensure that their risks are effectively managed from a contractual and regulatory standpoint. Our team of in-house lawyers and wording specialists are experts in reviewing existing contract obligations and in developing best in class wordings to maximise protection and help limit liability.
Identifying and analysing your risk
Effective risk management strategies are those that are embedded across the enterprise. We operate as a strategic business partner and challenge assumptions to deliver the best solutions, ensuring that risk management strategies are aligned and integrated with operational goals to reduce uncertainty and enhance your market position. We help captive insurance companies to deliver the most efficient financing and the most responsive services to both Group and business unit management.
Willis Towers Watson Power and Utilities specialists work with our analysts to bring the most modern and sophisticated risk management techniques to your programme, thereby enhancing your risk culture and optimising your risk costs. Our risk engineers complement our clients' own engineering expertise, to reduce their exposure to loss and improve their operational resilience.
We create a wider pool of potential insurers for our clients through the provision of high-quality technical information, and this is supplemented by analytics and benchmarking from our wide client base and policy wording expertise, which enables our clients to benefit from the broadest coverage available in the insurance market.
Optimising your risk
We combine sector knowledge with analytical capabilities to design optimal risk programmes. We apply proprietary risk analytics, tools and sector knowledge to help our clients make more informed risk management decisions. Our risk analysts understand the models used by the insurance market, and combine this knowledge with proprietary tools and technologies to give you the advantage. We establish the most economically efficient balance between risk transfer and retention by setting appropriate limits and deductibles in line with your risk appetite. The results from the analytics justify insurance buying strategies to senior management and other stakeholders.
Protecting your risk
Our risk management specialists regularly reassess client programmes so that they remain relevant – this is not a one-off process confined to the insurance renewal. We ensure that our approach to risk transfer is fully aligned to our clients' business and their strategic priorities, through achieving premium efficiency by obtaining broad and clear coverage at the most competitive price, through access to global markets via specialist industry hubs around the world and through transparent insurer selection, based on statistical analysis of their competitiveness, willingness to pay claims and service.
The Willis Towers Watson Power and Utilities Practice is represented around the world, and we consistently seek to generate new market capacity for the sector from both mature and developing markets. We have also invested in specialists in new product areas, such as weather risk solutions. We also deal on our clients' behalf with other stakeholders, such as lenders, to ensure that their interests in the client's risk financing arrangements are satisfied.
Developing long term solutions for your risk
We are focused on protecting the financial metrics of our clients, their people and their assets. We understand that as your company grows, you need reliable information on territories into which you are expanding. So we provide territorial and project specific reports to help our clients make better decisions regarding investment strategies and we provide risk assessment reports in order to help reduce project investment risk profiles. This information can increase the Board's confidence levels in strategic decision making.
Power & Utilities global reach
Direct: +44 (0)20 3124 7567
Direct: +51 1 –700-0200
Direct: +65 6591 8081
Direct: +65 8161 1315
Direct: +47 23 29 60 90
Direct: +61 2 9285 4115