<p><strong>Speaker 0</strong>: <span>Zurich Resilient Solutions is a team of consultants that help customers with building their resilience against risk. So whilst we work</span></p> <p><strong>Speaker 0</strong>: <span>internally within Zurich to help underwriters with reassurance in terms of the risks that they underwrite, we also have branched out and developed a consultancy service that allows customers to directly engage with us regardless of whether they are insured by Zurich or not, and allow our experts to help them with all of their risk and resilience needs.</span></p> <p><strong>Speaker 0</strong>: <span>We're really excited about our new platform, called Risk Clarity, which is in partnership with Risk Connect. Essentially, it is a platform that allows customers to keep all of their risk data in one place.</span></p> <p><strong>Speaker 0</strong>: <span>It allows them to interrogate that data and pull the data points together to produce risk insight. So the key benefit for the customer is all of their data is in one place. It allows them to look at the risk management aspects of it. It allows them to look at policy data, claims data,</span></p> <p><strong>Speaker 0</strong>: <span>anything to do with incidents and track them so, along with the Enterprise Risk management module, which allows them to create powerful heat maps to really keep their businesses running and for them to have a much better understanding of the risks that they face, the quality of the mitigation and the progress they are making.</span></p> <p><strong>Speaker 0</strong>: <span>Parity was originally devised very much for the retail market, which is why we're here at Bieber today. So</span></p> <p><strong>Speaker 0</strong>: <span>we design the product for that sort of volume customer who perhaps doesn't have their own risk department and therefore needs to move their business away from spreadsheets away from various other, more mechanical or manual ways of dealing with data</span></p> <p><strong>Speaker 0</strong>: <span>and then towards a more automated and complex system. So that was what it was originally designed for. However, the system we have produced is now so useful we're finding that even larger customers are starting to get interested.</span></p> <p><strong>Speaker 0</strong>: <span>So in the future, risk clarity will have modules associated with environment, environmental and social governance. However, our climate resilience solutions are designed for customers who need help with moving them along their journey in relation to climate change and being more environmental.</span></p> <p><strong>Speaker 0</strong>: <span>So that is a team of experts who can really work with customers, really get them to have an understanding of their business now and using powerful data modelling how their business and their risk exposure will change over the next 80 years in relation to flood or earthquake or natural catastrophe,</span></p> <p><strong>Speaker 0</strong>: <span>and really ensure that they are prepared for the future. It's also to help them with their journey to net zero and a whole host of other things that are related to governance, such as making sure they're prepared for their submissions</span></p> <p><strong>Speaker 0</strong>: <span>for T. C F D. For example, the task force on climate related financial disclosures. So it's a suite of solutions that allow customers with helping them to improve their environmental strategies</span></p> <p><strong>Speaker 0</strong>: <span>in relation to how technology can predict the future. It can only be calibrated in time, so you have confidence intervals in this technology. So in the 10 to 20 year category, you can have high confidence with what the</span></p> <p><strong>Speaker 0</strong>: <span>models are producing. Once you get to 80 plus, you have low confidence as to what the models can produce. So that's why we've picked 80 years, because we feel the models can be accurate and could give you guidance within that time span</span></p> <p><strong>Speaker 0</strong>: <span>insurance products are based on a multitude of factors, however, the key theme running through all of them, whether it's property protecting your home or business, whether it's liability, protecting the people within your home and business or whether it is motor or other lines of business. The key theme running through it all is risk</span></p> <p><strong>Speaker 0</strong>: <span>now. Risk quality is very much based on the risks that the customer face and the quality of the mitigation they have against those risks. So our products empower the customer with having a really strong understanding of the risks they face and helps them with guidance on boosting their risk quality.</span></p> <p><strong>Speaker 0</strong>: <span>And that, in turn, means that that business becomes more resilient in facing the risks in the future. So in terms of answering your question, risk quality is inherently designed in pricing of all insurance products.</span></p>