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.
Christie Lee, director of analytics, A.M. Best, said insurers in Japan are dealing with catastrophes, insurers in Korea are dealing with regulatory and accounting changes, and insurers in China are wrestling with tight underwriting margins.
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.
Hermann Pohlchristoph, board member for Asia Pacific, Munich Re, said the global reinsurer has realigned its organization to better match regions of the world.
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.
