7th International Symposium on Catastrophe Risk Management
Plugging the Natural Catastrophe Data Gap
– Thoughts to Action for NatCatDAX
The Institute of Catastrophe Risk Management (ICRM) was launched by Nanyang Technological University, Singapore, in January 2010 with a vision to become Asia’s leading research institute in catastrophe risk modeling and management. ICRM has conducted six Annual Symposia on important topics including food and water security and climate change, black swan events, extreme events in Asia Pacific, financing natural catastrophes in Asia, public-private partnership in managing catastrophe events, and mega-cities of Asia and their evolving risks.
This Seventh Annual Symposium will focus on data about the assets exposed to natural catastrophes (NatCat’s) in Asia and in particular Southeast Asia. Both the public sector (the governments) and the private sector (the insurance industry – the Industry) are struggling to find sustainable solutions, as well as to build viable partnerships in managing the NatCat risk. Both need quality data across their respective enterprises. Governments need data to understand and relate to NatCat risk transfer solutions through re/insurance as shock absorber for the fiscal burden of NatCat’s. The Industry needs robust, objective and independent data to offer innovative products (loss based and parametric) to traditional markets, open new markets with the governments, enhance risk assessment, and be able to carry out reliable benchmarking against the market. Data which enable solutions need to be developed through a newly formed regional data platform – Nat Cat Data and Analytics Exchange – NatCatDAX. This realization defines the theme of the Seventh Symposium as:
Plugging the Natural Catastrophe Data Gap - Thoughts to Action for NatCatDAX
The Symposium will be organized along two sub-themes:
Perspectives on Existing Nat Cat Exposure and Loss Data
This theme will be the venue for the Industry (insurers, reinsurers, brokers) and the Public Sector to address how data challenges are managed within the current environment and offer their perspectives and advice on improving it.
NatCatDAX–Advanced Technologies to Bridge the Data Gap
This theme will bring in the research, technology, and exposure modeling perspectives. Along this theme an advanced blue print for NatCatDAX, led by ICRM, and involving industry and technology partners will be presented. The purpose of the session will be to get the participants fully engaged and enable them to provide their valuable and critical feedback and advice in making an efficient NatCatDAX platform a reality.
No single entity, private or public, has all the data and all know-how, or has a complete perspective on all aspects of NatCatDAX. Multiple stakeholders have pieces, and an alliance to bring them together needs to be created and activated on the principles of mutual benefits. This Symposium is an important step in achieving this goal, and we hope that the invited speakers and participants will embrace this principle in their Symposium contributions.
It is our pleasure to invite you to attend the Symposium.
Professor PAN Tso-Chien
Institute of Catastrophe Risk Management
Nanyang Technological University, Singapore
Symposium Sponsors :
NatCatDAX Alliance Founding Members :