Navigate today’s most pressing health industry challenges with a leading global expert by your side.
Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Deliver on the promises of the past and create smart solutions for the future.
This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are.
Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Climate resilience refers to the recognition and planning by individuals, businesses, and governments of the influence of climate on specific hazards. Whether various aspects of climate are static or changing, whether the changes occur slowly or quickly, and whatever the cause, the right solutions for resilience are often similar. The stakes are raised when it comes to extreme events such as wildfires, hurricanes, floods, severe storms, winter storms, and earthquakes.
Milliman’s climate resilience team can help define scenarios, specify and model hazards, and develop options for resilience that offer clear insight into costs, benefits, and uncertainty. Our initial focus is on insurable property hazards and how they are affected by climate.
More than 30 years ago, the insurance industry helped pioneer catastrophe modelling to predict insurable exposures under a variety of extreme events at defined probabilities. Recently, modelling has become increasingly climate-aware, and Milliman knows how to design and implement insurance frameworks that align with these modelled risks. Geographic precision has also been supercharged by technology in recent times, enabling stakeholders to “zoom in” and differentiate risks in much greater detail. Milliman uses the latest tools to study both macro shifts in climate and their micro effect on communities, thereby improving risk signals and customising resilience solutions.
Milliman works with insurers, reinsurers, investment funds, governments, non-profit organisations, and industrial organisations to address a variety of climate resilience questions.
Our consultants design and price insurance and risk financing frameworks. We understand every aspect of the insurance value chain, from global wealth funds providing capital for natural hazard risk to homeowners’ insurance policies that cover a single household’s most valuable possessions. We know how risk signals flow from scientific models, through complex geographic and actuarial plans, to the premium charges that are paid by consumers and regulated by individual states. We also have a deep understanding of catastrophic perils such as wildfire, hurricane, flood, earthquake, and severe/winter storms. We work with our clients to interpret findings under baseline scenarios and stress scenarios reflecting climate change, as well as mitigating scenarios enabled by resilience investments. We understand the role of risk signals in the broader economy and are positioned to provide independent transactional assistance with respect to programs that insure and finance risk or fund resilience investments.
Some of our services include:
Milliman uses advanced geography, machine learning, and new data streams to validate scientific climate scenarios and models and builds pricing and risk scoring plans that can tell a low-risk property from a high-risk neighbor. As insurtech advances and a new generation of consumers gets comfortable buying customised risk protection in a changing climate, we support risk analysis that is on-demand and customized.
Milliman is a trusted adviser as clients grapple with the nexus of hazard, climate, resilience, and insurance.
Flood risk continues to be one of the most difficult perils to price for the homeowners insurance industry, and until recently many have considered it to be uninsurable.
Milliman provides the full range of property analytics a carrier needs to match price to risk, get better ratings, and improve profitability in the most difficult markets.
Nancy Watkins is a principal and consulting actuary with the Property and Casualty Practice in Milliman’s San Francisco office. She manages an actuarial consulting practice that specializes in climate resilience, insurtech, and c...
Ask the tough questions. We’re ready for them.