Understanding of your industry and its emerging risks
The Natural Resources industries are renowned for their complex and unique risk management challenges, and so it's vital that all the elements of a company's risk management strategy are brought together effectively to lower overall risk costs. Our specialists understand these challenges, and have a lifetime's experience of our industries in all their forms. They can therefore make the right connections across Willis Towers Watson so that risk identification, risk retention and risk mitigation tools are harnessed effectively to traditional risk transfer solutions. Click here for the latest trends in Oil & Gas, here for the latest trends in Power and Utilities and here for the latest trends in Metals and Mining.
A multi-dimensional approach to risk management
Willis Towers Watson takes pride in taking a truly multi-dimensional approach to risk management. In your fast-growing industry, Natural Resources companies need a partner who can help you determine your risk appetite and retention options (what risks should be retained and what should be transferred, how capital costs can be optimised, how retained risks can be most effectively managed, whether or not a captive insurance company is viable), your risk mitigation strategy (the best way to ensure that your assets are valued properly, the latest techniques available to identify and mitigate the risks you face), your risk transfer options (which markets to use, whether to mutualise your risk, and if so, how), your risk transfer service delivery (that your programme is compliant, that your documentation is accurate and timely) and finally your claims process (that your policy will respond effectively in the event of a loss).
A connected global footprint
The formation of the Willis Towers Watson Natural Resources Industry group in 2015 has enabled a wealth of expertise to come together from all over the world to subscribe to one Natural Resources community. We have hub offices all over the world that specialise in offering expertise in each of our industries, from Vancouver to Auckland, from Lima to Beijing, from Sao Paulo to Moscow, from London to Johannesburg. Unlike some of our competitors, our teams don't work in silos; together, we combine to deliver cross-class, integrated solutions to our clients. Click the map below to see the locations of our offices that offer specialist Natural Resources industry expertise.
Best in class thought leadership
To keep our clients abreast of developments in the global insurance markets, we issue our Natural Resources Market Review every April. This highly regarded publication provides an in-depth analysis of each market, by industry as well as by geography. We also publish regular Industry Briefings, enabling us to examine the most pertinent trends in each industry from a risk perspective. Thought leadership is also communicated and produced at our regular industry conferences and seminars, held in each region at least once every two years. Click here to find out more.
Investment in engineering expertise for risk mitigation
The Engineering and Risk Management (E&RM) group includes professional engineers with industry experience and specialist knowledge in the identification of hazards, assessment and control of risks in various industry sectors including oil and gas E&P (onshore/offshore), refining, petrochemical, chemical, power generation, steel/aluminium, electronics, general manufacturing, transportation, mining, finance and leisure. This knowledge-based approach is one of the reasons why clients with highly engineered risks choose Willis Towers Watson to be their partner. Click here to find out more.
Our values and the way we work
Willis Towers Watson Associates hold themselves to the highest standards in our dealings with clients and each other. Our reputation in the Natural Resources sphere stems from the strong business partnerships that we have built up over the years with some of the most recognised companies in this sector. We're a company whose values – integrity, advocacy, teamwork, respect and development – no doubt reflect your own. Click here to find out more.
Our retention rate is outstanding by any measure. Clients appreciate our understanding of your industry, the bespoke way in which we offer our products and services, our outstanding reputation on service and product deliverability and the competitive risk transfer products on offer. We are delighted that some of the leading risk managers in the Natural Resources sphere have gone on record to express their appreciation of what we have done for them.