Ukraine launches Marsh McLennan-backed war risk data platform
Ukraine, with the support of international reinsurance broker Marsh McLennan, launched a data platform on October 12 allowing insurers, investors and governments to analyse war risks in the country, according to the Marsh McLennan website.
It is also noted that support was provided to the government of Ukraine in the development and testing of a platform to support the country's recovery and transformation.
The data platform brings together detailed maps of war-related incidents in Ukraine (defined as individual events relating to Russian hostilities such as missile, drone, or shelling attacks) since the Russian invasion in February 2022.
It contains detailed information about the frequency and type of attacks by location, time, with further insight into the types of assets targeted and damage level sustained.
"Ukraine's data platform – the first of its kind – empowers the global insurance and investment community as well as governments with data to evaluate risks much more accurately to create greater confidence of investment," Marsh McLennan President and CEO John Doyle said.
According to the announcement, the platform shows that 76% of communities in Ukraine had no war-related incidents in 2023 up to 1 October. The equivalent figure since the invasion began on 24 February 2022 is 66%.
These figures, the broker stated, demonstrate the progress made by Ukraine over the past year. A further 9% of communities were low-incident communities in 2023, having experienced only one war-related incident.
The analysis shows that hostilities have been concentrated on a focused set of Ukrainian communities: 9% of communities have been subject to intense shelling; 6% are communities away from the frontline that have been targeted by Russian attacks. It also shows that 101 once-occupied communities have been recovered from Russia by Ukraine since the invasion began.
"Some 76% of communities in Ukraine have had no war related incidents this year. This demonstrates that much of Ukraine is open for investment now," according to Secretary of the National Security and Defense Council of Ukraine Oleksiy Danilov, who runs the platform.
The launch of this platform follows Marsh McLennan announcement committing to work with the Ukrainian government to provide services on a pro-bono basis to create a platform for the country to consolidate and analyse data for a transparent assessment of war risks in Ukraine.
The platform aggregates data received from the police, military, security services, rescue services, transport services, and government institutions, among other sources.
Marsh McLennan, the world's leading risk, strategy and people professional services firm, helps clients in 130 countries navigate increasingly dynamic and complex environments through four market-leading firms. The company has about 85,000 employees. Its annual revenue exceeds $20 billion.