- Allianz Commercial launches CAReS, a new data-driven platform to assess and reduce climate risk exposure across 12 natural perils.
- CAReS enables risk modeling through 2080, offering tailored resilience consulting and a self-serve risk dashboard.
- Climate-related natural catastrophe losses reached $327 billion in 2024, with $138 billion in insured losses, underscoring the urgency of proactive climate risk management.
Allianz Commercial has launched its Climate Adaptation & Resilience Services (CAReS) platform to help businesses identify, evaluate, and reduce exposure to climate risks amid rising losses from natural catastrophes.
The CAReS platform enables companies to assess how 12 climate-related perils—including tropical storms, floods, wildfires, droughts, and extreme heat—may affect key assets such as operational sites, new investments, and supply chain locations. The platform provides risk modeling across four timeframes: present day, 2030, 2050, and 2080, aligning its scenarios with the United Nations Intergovernmental Panel on Climate Change (IPCC).
“The question is not if a company is affected by climate risks in the future, but when it will happen,” said Michele Williams, Global Head of Allianz Risk Consulting (ARC). “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 2024, climate-related natural catastrophes caused $327 billion in total losses, with $138 billion covered by insurance. CAReS aims to help clients reduce the financial and operational impact of such events through two primary offerings:
- A self-service dashboard with location-level climate risk scoring,
- Access to tailored resilience consultancy delivered by ARC experts.
The platform quantifies both physical and financial losses at the portfolio and site levels and follows a structured five-step assessment process. This enables companies to pinpoint high-risk areas, prioritize them, and take actionable steps to build long-term resilience.
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“Resilience is a journey, not a destination,” said Michael Bruch, Head of Global ARC Advisory Services at Allianz Commercial. “By proactively managing climate risks, you can mitigate potential disruptions to your business and stay one step ahead. This is a win-win situation for Allianz Commercial as an insurer as well as for the client who can reduce its climate risks and potential losses in the future.”
CAReS marks the first of several new offerings from Allianz Risk Consulting under a broader strategy focused on enhancing client resilience in the face of escalating climate threats.
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