Aon has announced a partnership agreement with Catalyst Technologies, helping to strengthen the response to weather climate risk in Australia. Under the agreement Aon will be able to offer clients the opportunity to access a threat intelligence and critical event management platform - iluminr, developed by Catalyst Technologies. This allows organizations to protect people and business operations by providing early warning alerts, enabling leaders to proactively communicate and react to emerging climate related threats with speed.
Severe weather events are the most common (and costliest) drivers of property damage in Australia with severe thunderstorms and hail being the costliest natural peril costing the local insurance market close to AUD $1 billion each year.
Jennifer Richards, Managing Director – Specialties at Aon said she was pleased to build a relationship with Catalyst Technologies to ensure clients have access to business preparedness and continuity platforms ahead of, and responding to, weather threats.
“Australia’s built environment is heavily exposed to a wide variety of extreme weather perils. Our common goal is to ensure that all Australian businesses remain prepared for and able to respond to severe weather events and build resilience to be better prepared for future events. We look forward to working with Catalyst Technologies to explore how we can further deepen and expand our client offering to help support Australian businesses to do this,” said Richards.
Catalyst Technologies Co-Founder & Chief Growth Officer Marcus Vaughan said he is delighted to partner with Aon to help Australian organizations future proof their resilience to extreme weather events.
“Organizations are currently grappling with the compounding effects of increasing physical climate risks, and a retreating insurance market – leaving a much greater exposure on their balance sheet each year. By adopting technology, these organizations are able to increase their threat awareness, and improve their crisis response time and effectiveness. By getting ahead of extreme weather events, organisations can directly reduce the impact and improve recovery timeframes.”
More details about iluminr can be found at https://catalysttech.co/
