Coverage of the Singapore International Reinsurance Conference
Chesley Williams, senior director, model product management, RMS, said modelers are focusing on the events that occur after the initial peril.
Matt Cannock, managing director for Asia, Markel International, said some insurers have been entering and leaving markets, creating uncertainty about the commitment of the industry to Asia.
Steve Arora, CEO, Axis Re, said global prices are unsustainable but should adjust if insurers are willing to price realistically.
Frank Fortunato, CEO, Catex, said risk data is in shorter supply in many parts of Asia, which is one reason the world did not realize how broadly flooding in Thailand would impact global supply chains.
Daniel Ryan, Managing Director and Head Insurance Risk Research, Swiss Re Institute, said the explosive growth of sensor technology means that insurers and reinsurers will increasingly be in the business of detecting and preventing risk.
