18.12.2023
Solution Ask Wire for Risk Analysis has been revolutionary for risk assessment for financial institutions in Cyprus. By offering comprehensive environmental risk intelligence, the company enables banks and insurers to improve their risk management strategies and identify opportunities in a dynamic environment.
The tool identifies critical environmental hazards such as fire, flood and earthquake. This information allows insurers to fine-tune policies and banks to structure loans based on realistic risk scenarios.
Additionally, the restoration cost model provides accurate estimates of restoration costs, preventing the pitfalls of over- and under-insurance and allowing insurers to offer competitive premiums.
This innovative approach is not just about prevention—it is a strategic asset that drives economic growth. This allows insurers to develop profitable products and banks to protect their investments from climate-related challenges, laying the foundations for a future-proof financial sector in Cyprus.
