IBISA launches The Weather Simulator (TWS) The Luxembourg-based climate insurance IBISA is bringing weather simulation to everyone.
In a world where climatic events are becoming more and more intense and frequent, weather simulation and risk anticipation are a strategic issue, notably for companies.
It became paramount to acquire tools to anticipate those risks. For instance, on July 14th, 2021, Luxembourg and its surrounding countries were hit by a severe rainfall event, leading to billions of euros in losses. What is the probability that the same event occurs again in the coming years?
Adapting our technology to various industries outside the insurance world
For the past four years, the Luxembourg-based climate insurance has built and refined tools to help price weather events using IBISA’s Earth Engine, a satellite data management system, to acquire, process, and analyse information related to extreme conditions like heavy rainfall.
This technology estimates the probability or return periods of weather events based on historical data from any region in the world using statistical models and climate patterns. Historically used by IBISA for insurance, this technology can be adapted to various industries outside the insurance world.
That is why IBISA decided to go from weather simulation as technology to The Weather Simulator (TWS) as a standalone product. The Weather Simulator (TWS) can help budget and plan activities affected by weather risks for various industries such as agriculture, construction, transportation, tourism, energy, and more…
TWS is revolutionising the way the weather is simulated and can be used to help protect businesses from weather-related risks.” Jean-Baptiste Pleynet, Co-Founder and COO IBISA
He adds: “We are proud at IBISA to have developed The Weather Simulator (TWS) as a standalone product. We have modeled 42 years of historical weather data to construct a statistical model that attempts to replicate the pattern of the weather data. Thanks to the tool, TWS provides the answers you need to prepare for extreme weather events and protect your business.”
TWS can also be used to support the research and development of new products and technologies that are sensitive to weather conditions. Additionally, it can help in the decision-making process regarding long-term investments and operations. Thanks to TWS, businesses can stay one step ahead of the weather risks and better protect their property and assets.