wtw research network annual review 2024science for a smarter way to riskwtwco.com introductionspecialized industry approach to riskemerging riskstechnologypeople and political riskorganizational resilienceweather and climateflood and water managementearth risksrisk modelingtestimonialspublications2our aim is not merely to turn science into useable data and information that feeds into risk models, but also to use our improved yet imperfect knowledge wisely to support risk decisions.1/ introduction 03about us 04how it works 05interconnected research 06wtw research network partners over the years 07our history 082/ specialized industry approach to risk 09aerospace 04financial institutions and professional services 06marine 08natural resources, chemicals and environmental services 10real estate, hospitality and leisure 12retail and distribution 13technology and telecommunications 14transportation and logistics 153/ emerging risks 204/ technology overview 235/ people and political risk 266/ organizational resilience 297/ weather and climate 328/ flood and water management 359/ earth risks 3810/ risk modeling 41testimonials 44publications 47table of contents introductionspecialized industry approach to riskemerging riskstechnologypeople and political riskorganizational resilienceweather and climateflood and water managementearth risksrisk modelingtestimonialspublications3introductionthis publication provides an overview of how wtw is applying leading-edge research to support a smarter way to risk across industries.while we embrace the complexity of science, the wtw research network (wrn) strives to identify and communicate key risk insights in a simple and relevant way, to support risk management and strategy decisions. we hope that the overview of our research portfolio and the industry-specific practical examples of applied research provide a clear view of the risk topics we are focusing on and that something grabs your attention. the breadth of our research topics gives an idea of our concern about the current state of the world: 1. alongside a range of geohazards, all aspects of climate change, not just acute physical risks but also relentless chronic risks, and not just physical risks but also climate transition risks and climate change’s impact on water and food security; 2. the gray zone between war and peace (which challenges corporate geopolitical neutrality); 3. trust in technology; 4. vulnerabilities of supply chains; 5. growing regulatory emphasis on emerging risks; and 6. our belief that organizational resilience needs to complement the traditional risk view. despite our progress since 2006, we are all too aware of the remaining “knowledge–action” gap, which is pushing leading scientists to civil disobedience, to get their voices heard. the words of russian-american biochemist and science-fiction writer isaac asimov ring particularly true these days: “the saddest aspect of life right now is that science gathers knowledge faster than society gathers wisdom.” this is a reminder that the aim of our research portfolio is not merely to turn science into useable data and information that feeds into risk models, but also to use our improved yet imperfect knowledge wisely. wise usage of scientific knowledge is critical for public understanding and sound policy/strategy for today’s key challenges — from human health to climate action to food security. more than ever, the researchers who make up the wrn are eager to understand how their work interacts with the real economy and how they can lend their expertise to a more resilient future for all. you can read some of their testimonials in this review. we extend our renewed thanks to all our research partners for keeping the faith in the power of applying science, and to our enthusiastic wrn team and curious colleagues, without whom we could not bridge the knowledge–action gap. it is a privilege to work with so many talented people and harness their innovation to support lives, livelihoods and assets in the volatile decade we are in. hélène galywtw research network director 44 (0) 20 3124 8520 helene.galy@wtwco.com introductionspecialized industry approach to riskemerging riskstechnologypeople and political riskorganizational resilienceweather and climateflood and water managementearth risksrisk modelingtestimonialspublications4the wtw research network is a well-established, not-for-profit, award-winning collaboration between science and the insurance, finance and risk management sector, going back to 2006. long-term partnerships with more than 60 research organizations across the world help us confront the full spectrum of ri