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.
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.
Franz Josef Hahn, CEO, Peak Re, said mutual and cooperative insurers have a strong presence in the U.S. and Europe, and are an emerging force in China.
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.
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.
