Digital technologies' support for property insurers under debate in Munich

28 April 2016 — Daniela GHETU
"Insurers need to make the unknown known and explain what climate change risks are to society at large. For instance, we must continue to spell out the risks of building communities in unprotected coastal areas or in areas that are drought-prone," recently stated ALLIANZ CEO, Oliver BATE, commenting on the the historic climate agreement that was reached during the Climate Change Conference in Paris last December.

"The insurance industry can help. Climate change is one of the biggest causes for social unrest and distress in parts of the world where communities which rely on agriculture have no means of dealing with any catastrophic weather conditions. Allianz is part of RIICE which is an initiative that uses satellites to monitor crop growth and helps to establish insurance for farmers in areas where we were not able to provide efficient solutions in the past. Through our insurance solutions, we can show how we protect businesses and communities against climate disasters. But the insurance industry cannot do this alone. We need the support from governments. In many countries, there are no legal frameworks which will enable us to help them. We are working very hard to further governments' understanding of why and how public-private partnerships can help their most vulnerable communities," he explained.

In fact, in preventing the climate change's risks escalation and mitigate the catastrophe risks occurence effects, insurance and modern technologies have to join forces. Predictive work, risks assessment, rapid and effective claims settlement and indemnisation following the nat cat events are only a few of the issues in which technology may provide a strong support.

The forthcoming edition of International Insurance Forum organized in cooperation by XPRIMM and NTT Data, under the generic title "Property Insurance in the Digital Era", will dedicate a extended section to discussing about the tools and opportunities that digital technologies and not only can offer to property insurers.

The event will take place in Munich, on June 20-21.

Main partners: VERISK Insurance Solutions and TRUST Re
Partner: Blueprint

Click here to find out more details about the confirmed speakers, event's topics and program.

Participation is free of charge, subject to availability. Register here.

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