Allianz Commercial rolls out CAReS
Developed in conjunction with Allianz clients, CAReS is a data-driven tool that enables users to identify potential high-risk areas and project the effects of climate risks on their locations up to the year 2080.
The platform converts physical climate risks into quantifiable financial and physical loss metrics at both the portfolio and location level.
It is designed to assist businesses in managing these risks through resilience consultancy and climate risk assessments.
Companies can use CAReS to identify and prioritise climate risk exposures, which include owned locations, new investments, and supplier locations.
CAReS operate through a five-step process that helps businesses understand their climate risks and the potential impact on their assets.
The platform features a dashboard solution that provides risk scores for 12 different perils, including tropical storms, floods, hail, wildfires, and extreme heat.
This introduction is part of Allianz Risk Consulting's planned series of solutions and offerings set to be launched this year.
Allianz Commercial Allianz Risk Consulting global head Michele Williams said: 'The question is not if a company is affected by climate risks in the future, but when it will happen. No industry is immune to risks such as floods, droughts, storms, or fires.
'This is why we developed CAReS, so our clients have the option to address and mitigate their risks as well as to avoid surging insurance costs in the future.'
In June 2025, Allianz Commercial Singapore designated Hydor as a managing general agent (MGA) to strengthen its marine liability insurance offerings in the Asia-Pacific.
"Allianz Commercial rolls out CAReS " was originally created and published by Life Insurance International, a GlobalData owned brand.
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