Risk issues for marine operators & coastal communities
Delivering real-time, high-quality and timely digital ocean-related data is key to monitor and control weather-related risks. More importantly, a digital twin can provide a virtual platform for insurance companies to simulate different rare disasters, assess disaster response actions and evaluate different risk scenarios. In order to address the insurance problems, a comprehensive risk analysis model can be developed, containing calibrated risk algorithms to estimate potentially disastrous situations.
ILIAD will serve as a one-stop shop for marine risks by providing an ecosystem with a full-service data and analytics platform. The Aquaculture Risk Management Digital Twin will produce insights as a dynamic reporting tool with required information determined by the subscriber, as well as an interactive dashboard that allows examination of historical data from existing ILIAD DTOs to enhance risk assessment.
Also, a continuous monitoring with push notifications based on subscriber identified threshold level of defined risk scenarios at places more vulnerable and or with higher risks, and so with greater exposure to extreme events, is envisaged.