Allianz Commercial has introduced a new platform aimed at helping businesses assess and manage the growing threat of climate-related risks.
The Climate Adaptation & Resilience Services (CAReS) platform enables organisations to evaluate their exposure to physical climate hazards and develop targeted mitigation strategies across multiple timeframes.
The launch comes at a time of escalating global losses driven by climate change. In 2024, economic damage from natural catastrophes—such as floods, windstorms, and hail—reached an estimated US$327 billion, with insured losses totalling US$138 billion.
CAReS integrates advanced data analytics with Allianz’s internal risk consulting expertise to convert climate risks into actionable physical and financial impact assessments. The tool evaluates risk at both the site-specific and portfolio level, offering companies detailed insight into potential vulnerabilities.
Through a structured five-step process, users can identify high-risk locations across 12 climate perils—including tropical storms, flooding, wildfires, hail, and extreme heat. The platform’s interactive dashboard delivers risk scores and climate projections across four key timeframes: present day, 2030, 2050, and 2080.
“The question isn’t if a company will be impacted by climate risk—it’s when,” said Michele Williams, Global Head of Allianz Risk Consulting at Allianz Commercial.
The rollout of CAReS aligns with the findings of the 2025 Allianz Risk Barometer, which ranks climate change as the fifth most significant risk facing global businesses. Growing concern over extreme weather events, regulatory pressures, and supply chain vulnerabilities has shifted climate change from a long-term strategic concern to an immediate operational challenge for many sectors.
Recent data underscores this trend. Wildfire activity, in particular, has become more frequent and destructive, increasingly impacting urban and industrial areas. Allianz highlighted the rising complexity and severity of such events.
The 2025 California wildfire season is estimated to have caused between US$28 billion and US$40 billion in insured damages, underlining the growing financial pressure on carriers and reinsurers.
