This document discusses parametric (NatCat) insurance products. It explains that parametric products use defined triggers like wind speed or rainfall to pay out rather than requiring an assessment of actual losses. This allows for quicker payouts. Parametric products are increasingly used in developing markets and by corporations. The document provides examples of how parametric earthquake products for Turkey could work, defining geographic areas and magnitude thresholds for payout. Potential buyers identified include municipalities, banks, tourism industry, and those wanting coverage of non-physical losses or deductibles.
Dimer LLC has developed the UV-Hammer to help address the serious problem of healthcare-associated infections (HAIs). The UV-Hammer uses ultraviolet light to quickly and efficiently disinfect entire hospital rooms, targeting surfaces that traditional UV devices cannot reach. It has a mobile, extendable arm with strategically placed UV lamps and a protective shield for the operator. The UV-Hammer aims to significantly reduce treatment time and healthcare costs compared to existing UV disinfection devices, allowing one unit to disinfect around 80 rooms in an 8-hour shift for a cost of ownership of $80,000 versus $800,000-$1.1 million for competitors.
UK Spectrum Policy Forum – Richard Peckham, UK Space - The Case for SpacetechUK
UK Spectrum Policy Forum
Cluster 3 Meeting – 17 September 2014
Richard Peckham, UK Space
The Case for Space: The commercial, societal and macro-economic case for satellite spectrum
More information at: http://www.techuk.org/about/uk-spectrum-policy-forum
All rights reserved
This document discusses a decision support system from CoreLogic called RQE that models forest damage from windstorms and estimates insurance losses. It includes a forest module added to CoreLogic's existing European Winter Storm Model (EuroWind) to assess damage to different forest types. The system is validated using data from historical storms and allows analyzing scenarios such as damage to single or mixed forest plots over time. It can also be used to study risks across a national forest exposure database.
This document discusses infrastructure resilience and summarizes Dr. Sarah Dunn's research in this area. Her research aims to improve community resilience to hazards by developing techniques to identify vulnerable infrastructure systems and protect them. She uses network analysis and fragility curves to estimate damage from events like storms to electricity networks. The research forecasts consequences to infrastructure based on hazard intensity, exposure data, and fragility curves derived from historical fault data. This allows identifying areas most likely to be impacted and informing contingency planning.
Resilience: Global Imperative for 2013 and Beyond_Mesh evans april 25 2013Peter C. Evans, PhD
Identifies key forces that are driving the need for resilient as well as sustainable resilient energy infrastructure. The presentation argues that work need greater technology innovation to support RSI (resilient, sustainable infrastructure).
This document discusses parametric (NatCat) insurance products. It explains that parametric products use defined triggers like wind speed or rainfall to pay out rather than requiring an assessment of actual losses. This allows for quicker payouts. Parametric products are increasingly used in developing markets and by corporations. The document provides examples of how parametric earthquake products for Turkey could work, defining geographic areas and magnitude thresholds for payout. Potential buyers identified include municipalities, banks, tourism industry, and those wanting coverage of non-physical losses or deductibles.
Dimer LLC has developed the UV-Hammer to help address the serious problem of healthcare-associated infections (HAIs). The UV-Hammer uses ultraviolet light to quickly and efficiently disinfect entire hospital rooms, targeting surfaces that traditional UV devices cannot reach. It has a mobile, extendable arm with strategically placed UV lamps and a protective shield for the operator. The UV-Hammer aims to significantly reduce treatment time and healthcare costs compared to existing UV disinfection devices, allowing one unit to disinfect around 80 rooms in an 8-hour shift for a cost of ownership of $80,000 versus $800,000-$1.1 million for competitors.
UK Spectrum Policy Forum – Richard Peckham, UK Space - The Case for SpacetechUK
UK Spectrum Policy Forum
Cluster 3 Meeting – 17 September 2014
Richard Peckham, UK Space
The Case for Space: The commercial, societal and macro-economic case for satellite spectrum
More information at: http://www.techuk.org/about/uk-spectrum-policy-forum
All rights reserved
This document discusses a decision support system from CoreLogic called RQE that models forest damage from windstorms and estimates insurance losses. It includes a forest module added to CoreLogic's existing European Winter Storm Model (EuroWind) to assess damage to different forest types. The system is validated using data from historical storms and allows analyzing scenarios such as damage to single or mixed forest plots over time. It can also be used to study risks across a national forest exposure database.
This document discusses infrastructure resilience and summarizes Dr. Sarah Dunn's research in this area. Her research aims to improve community resilience to hazards by developing techniques to identify vulnerable infrastructure systems and protect them. She uses network analysis and fragility curves to estimate damage from events like storms to electricity networks. The research forecasts consequences to infrastructure based on hazard intensity, exposure data, and fragility curves derived from historical fault data. This allows identifying areas most likely to be impacted and informing contingency planning.
Resilience: Global Imperative for 2013 and Beyond_Mesh evans april 25 2013Peter C. Evans, PhD
Identifies key forces that are driving the need for resilient as well as sustainable resilient energy infrastructure. The presentation argues that work need greater technology innovation to support RSI (resilient, sustainable infrastructure).
Risk Governance: the challenge of risk transfer instruments and catastrophic ...Global Risk Forum GRFDavos
The document discusses risk governance challenges around catastrophic events and risk transfer instruments. It uses Bogota, Colombia as a case study. It is known that Bogota faces earthquake risks and has taken mitigation measures. However, there is still uncertainty around the costs of future disasters and how losses will be paid. While compulsory insurance is proposed, the market penetration is only around 10% due to a lack of incentives and proper risk assessment. It is unclear how to make insurance mandatory and punish the uninsured.
Overview of WLE initiatives on floods and drought in South Asia
By Giriraj Amarnath, Principal Researcher – Disaster Risk Management and Climate Resilience, International Water Management Institute (IWMI)
Drought and flood risk reduction strategies
From Research to Resilience
WLE webinar series
October 7, 2021
Climate Change & the Bottom Line conference- Keynote, Alex Kaplan, Swiss ReSustainable Seattle
This document discusses public-private partnerships for addressing climate change risks through risk financing and insurance solutions. It summarizes the large gap between insured and uninsured losses from natural disasters globally. It then provides examples of economic risk assessments conducted in various regions, including analyses of expected annual losses under different climate change scenarios for New York City. The document advocates for combining ex-ante risk financing instruments with ex-post financing to reduce governments' financial burden after catastrophes. It also presents case studies on parametric insurance policies that provide quick payouts based on measurable storm parameters.
Exploration & Production onshore and offshore: technical challenges and their...ITE Oil&Gas
Presentation at TUROGE 2014 (Turkish International Oil and Gas Conference) on Safety of Onshore and Offshore Oil & Gas Operations.
By Giovanni Uguccioni - Oil & Gas Sector Development Manager at D’Appolonia SpA, Italy
Risk Management of Natural Disasters in Morocco: a project of Global and Inte...Global Risk Forum GRFDavos
The document summarizes natural disaster risk management in Morocco and the country's new integrated approach. Key points include:
- Morocco faces risks from earthquakes, floods, tsunamis, landslides and drought which cause significant annual economic losses.
- A new national strategy is being developed using risk modeling software to assess hazards, vulnerabilities, potential impacts and costs to inform sectoral and national strategies.
- The strategy aims to shift from post-disaster response to an emphasis on prevention and resilience through coordination, updated policies, and financial instruments like insurance.
System shock analysis and complex network effectsKimmo Soramaki
Joint presentation with Michelle Tuveson and Dr Andrew Coburn from Cambridge Risk Center at the Conference Board Global Risk Conference in New York, 8 May 2013.
Links to conference website: http://www.conference-board.org/conferences/conferencedetail.cfm?conferenceid=2456
Presentation about our probabilistic coupled inland flood, hurricane wind and storm surge model. We discuss Harvey losses, SpatialKat runtimes, and show for the first time industry wide EP curves for all perils combined and by themselves. Highlights also include our climate sensitivity and climate variability modeling, another industry first. Comments welcome.
What is supply chain risk? What are typical supply chain risks? This is the 2011 version of my annual lecture on Supply Chain Risk for the MSc in Supply Chain Management and Industrial Logistics at Molde University College, Norway
Asset & Risk Management for Critical InfrastructuresSim-CI
Sim-CI, or Simulation Critical Infrastructures is a aimed at supporting and facilitating resilience of Critical Infrastructures by enabling integral network management across interconnected CI's such as utility, telecom, security and so forth. The product suite spans from dynamic network planning facilitating asset and risk management, to operational workflow management and wearables enabling Field Service Engineers to accurately and safely assess and secure a contained area of a CI/CI's whilst limit any damage on the CI and related CI's (cascading effects) by containing and restoring the network.
Parametric insurance provides a key tool for disaster risk financing in regions impacted by climate change. It uses independent weather or other parameters to automatically trigger payouts, allowing for fast compensation without claims handling. This makes it well-suited for providing rapid liquidity to governments after disasters. Case studies show parametric insurance lowering costs through risk pooling and providing millions in payouts through facilities like CCRIF and coverage for the Philippines. It can help cover major disasters while traditional insurance and other methods address smaller, more frequent events.
The document discusses risk management and provides information on various aspects of conducting risk assessments. It begins with defining risk and explaining risk management. It then outlines the steps to conduct a risk assessment, which includes identifying threat sources and events, consequences, assessing single loss expectancies, likelihoods, and deriving risk values.
It also discusses developing and evaluating risk control options, with categories like risk acceptance, avoidance, reduction and transfer. The process involves assessing costs of options and their effectiveness in reducing risk. A cost-benefit analysis is done to determine the most cost-effective options.
The risk management framework also includes phases like risk reporting, management review and decision making, implementation of selected controls, and ongoing monitoring and control of risks
The document discusses several topics related to using geospatial data and modeling for agricultural research and development in Africa. It describes index-based livestock insurance (IBLI) being piloted in Northern Kenya to protect pastoralists from drought losses. It discusses how normalized difference vegetation index (NDVI) data is used to develop a predictive livestock mortality index for IBLI. It also discusses downscaling global climate models to generate high-resolution climate projections and weather data to assess local impacts of climate change on agriculture. Finally, it outlines how ILRI is targeting its work, taking a systems approach, and aiming to have a forward-looking perspective.
NEUSSNER-Risk maps for the support of reconstruction after Typhoon Haiyan-ID1...Global Risk Forum GRFDavos
5th International Disaster and Risk Conference IDRC 2014 Integrative Risk Management - The role of science, technology & practice 24-28 August 2014 in Davos, Switzerland
The landslide consists of rock wedge threatening two roads which are important for local
transportation. The present work encompasses all the components of an early warning system, including
the geological knowledge, the risk scenarios, the kinematic characterization of the landslide, the choice and
installation of the monitoring system, the setting of appropriate alarm levels and the definition of plans of
civil protection. The focus is on practical and logistical issues met in all these phases and the countermeasures adopted. At present the system consists in 13 wire extensometers, 1 thermometer, 1 rain gauge
and 3 cameras. Should a velocity threshold be exceeded by two or more sensors, the attention level would be
entered, causing improved monitoring and surveillance. In case the behaviour of the landslide changes and,
by using expert judgment and forecasting methods, an imminent failure is hinted, then an alarm is issued
and the upper road is closed.
Presentation on managing climate risk through ecosystem-based adaptation – linking urban and rural development planning by Michael Mullan & Takayoshi Kato (Secretariat, OECD)
2017 MAIREINFRA Conference, Seoul, South Korea, July 19-21.Waheed Uddin
Keynote Lecture, Waheed Uddin:
Disaster Resilience Management and Flood Hazard Assessment of Infrastructure Using Computational Modeling and Geospatial Risk Mapping
5th International Disaster and Risk Conference IDRC 2014 Integrative Risk Management - The role of science, technology & practice 24-28 August 2014 in Davos, Switzerland
This document discusses climate change risks for infrastructure projects like railways. It uses the Konkan Railway Corporation Limited (KRCL) project in India as a case study. Some key points:
- KRCL connects two important ports but the terrain is extremely rugged with many rivers, landslides, and heavy rainfall, exposing it to climate risks.
- Past accidents on the railway have been caused by boulders and landslides during heavy rainfall events.
- KRCL has already spent over 280 crore rupees on additional safety works and plans to invest another 340 crore to reduce risks from boulders and landslides.
- Future climate projections for the region include increased annual rainfall and temperatures, making
This document provides information about Property Claim Services (PCS), a division of Verisk Analytics that estimates property insurance losses from catastrophes. PCS is committed to serving customers and the global insurance industry through reliable and timely catastrophe loss estimates. PCS has been estimating losses since 1950 and uses actual claims data from over 60 years to improve its estimates. PCS data is used widely by insurers, reinsurers, modelers and other industry players. The document outlines PCS products and services, 2014 catastrophe activity, trends in catastrophe bond markets, and technology innovations.
Risk Governance: the challenge of risk transfer instruments and catastrophic ...Global Risk Forum GRFDavos
The document discusses risk governance challenges around catastrophic events and risk transfer instruments. It uses Bogota, Colombia as a case study. It is known that Bogota faces earthquake risks and has taken mitigation measures. However, there is still uncertainty around the costs of future disasters and how losses will be paid. While compulsory insurance is proposed, the market penetration is only around 10% due to a lack of incentives and proper risk assessment. It is unclear how to make insurance mandatory and punish the uninsured.
Overview of WLE initiatives on floods and drought in South Asia
By Giriraj Amarnath, Principal Researcher – Disaster Risk Management and Climate Resilience, International Water Management Institute (IWMI)
Drought and flood risk reduction strategies
From Research to Resilience
WLE webinar series
October 7, 2021
Climate Change & the Bottom Line conference- Keynote, Alex Kaplan, Swiss ReSustainable Seattle
This document discusses public-private partnerships for addressing climate change risks through risk financing and insurance solutions. It summarizes the large gap between insured and uninsured losses from natural disasters globally. It then provides examples of economic risk assessments conducted in various regions, including analyses of expected annual losses under different climate change scenarios for New York City. The document advocates for combining ex-ante risk financing instruments with ex-post financing to reduce governments' financial burden after catastrophes. It also presents case studies on parametric insurance policies that provide quick payouts based on measurable storm parameters.
Exploration & Production onshore and offshore: technical challenges and their...ITE Oil&Gas
Presentation at TUROGE 2014 (Turkish International Oil and Gas Conference) on Safety of Onshore and Offshore Oil & Gas Operations.
By Giovanni Uguccioni - Oil & Gas Sector Development Manager at D’Appolonia SpA, Italy
Risk Management of Natural Disasters in Morocco: a project of Global and Inte...Global Risk Forum GRFDavos
The document summarizes natural disaster risk management in Morocco and the country's new integrated approach. Key points include:
- Morocco faces risks from earthquakes, floods, tsunamis, landslides and drought which cause significant annual economic losses.
- A new national strategy is being developed using risk modeling software to assess hazards, vulnerabilities, potential impacts and costs to inform sectoral and national strategies.
- The strategy aims to shift from post-disaster response to an emphasis on prevention and resilience through coordination, updated policies, and financial instruments like insurance.
System shock analysis and complex network effectsKimmo Soramaki
Joint presentation with Michelle Tuveson and Dr Andrew Coburn from Cambridge Risk Center at the Conference Board Global Risk Conference in New York, 8 May 2013.
Links to conference website: http://www.conference-board.org/conferences/conferencedetail.cfm?conferenceid=2456
Presentation about our probabilistic coupled inland flood, hurricane wind and storm surge model. We discuss Harvey losses, SpatialKat runtimes, and show for the first time industry wide EP curves for all perils combined and by themselves. Highlights also include our climate sensitivity and climate variability modeling, another industry first. Comments welcome.
What is supply chain risk? What are typical supply chain risks? This is the 2011 version of my annual lecture on Supply Chain Risk for the MSc in Supply Chain Management and Industrial Logistics at Molde University College, Norway
Asset & Risk Management for Critical InfrastructuresSim-CI
Sim-CI, or Simulation Critical Infrastructures is a aimed at supporting and facilitating resilience of Critical Infrastructures by enabling integral network management across interconnected CI's such as utility, telecom, security and so forth. The product suite spans from dynamic network planning facilitating asset and risk management, to operational workflow management and wearables enabling Field Service Engineers to accurately and safely assess and secure a contained area of a CI/CI's whilst limit any damage on the CI and related CI's (cascading effects) by containing and restoring the network.
Parametric insurance provides a key tool for disaster risk financing in regions impacted by climate change. It uses independent weather or other parameters to automatically trigger payouts, allowing for fast compensation without claims handling. This makes it well-suited for providing rapid liquidity to governments after disasters. Case studies show parametric insurance lowering costs through risk pooling and providing millions in payouts through facilities like CCRIF and coverage for the Philippines. It can help cover major disasters while traditional insurance and other methods address smaller, more frequent events.
The document discusses risk management and provides information on various aspects of conducting risk assessments. It begins with defining risk and explaining risk management. It then outlines the steps to conduct a risk assessment, which includes identifying threat sources and events, consequences, assessing single loss expectancies, likelihoods, and deriving risk values.
It also discusses developing and evaluating risk control options, with categories like risk acceptance, avoidance, reduction and transfer. The process involves assessing costs of options and their effectiveness in reducing risk. A cost-benefit analysis is done to determine the most cost-effective options.
The risk management framework also includes phases like risk reporting, management review and decision making, implementation of selected controls, and ongoing monitoring and control of risks
The document discusses several topics related to using geospatial data and modeling for agricultural research and development in Africa. It describes index-based livestock insurance (IBLI) being piloted in Northern Kenya to protect pastoralists from drought losses. It discusses how normalized difference vegetation index (NDVI) data is used to develop a predictive livestock mortality index for IBLI. It also discusses downscaling global climate models to generate high-resolution climate projections and weather data to assess local impacts of climate change on agriculture. Finally, it outlines how ILRI is targeting its work, taking a systems approach, and aiming to have a forward-looking perspective.
NEUSSNER-Risk maps for the support of reconstruction after Typhoon Haiyan-ID1...Global Risk Forum GRFDavos
5th International Disaster and Risk Conference IDRC 2014 Integrative Risk Management - The role of science, technology & practice 24-28 August 2014 in Davos, Switzerland
The landslide consists of rock wedge threatening two roads which are important for local
transportation. The present work encompasses all the components of an early warning system, including
the geological knowledge, the risk scenarios, the kinematic characterization of the landslide, the choice and
installation of the monitoring system, the setting of appropriate alarm levels and the definition of plans of
civil protection. The focus is on practical and logistical issues met in all these phases and the countermeasures adopted. At present the system consists in 13 wire extensometers, 1 thermometer, 1 rain gauge
and 3 cameras. Should a velocity threshold be exceeded by two or more sensors, the attention level would be
entered, causing improved monitoring and surveillance. In case the behaviour of the landslide changes and,
by using expert judgment and forecasting methods, an imminent failure is hinted, then an alarm is issued
and the upper road is closed.
Presentation on managing climate risk through ecosystem-based adaptation – linking urban and rural development planning by Michael Mullan & Takayoshi Kato (Secretariat, OECD)
2017 MAIREINFRA Conference, Seoul, South Korea, July 19-21.Waheed Uddin
Keynote Lecture, Waheed Uddin:
Disaster Resilience Management and Flood Hazard Assessment of Infrastructure Using Computational Modeling and Geospatial Risk Mapping
5th International Disaster and Risk Conference IDRC 2014 Integrative Risk Management - The role of science, technology & practice 24-28 August 2014 in Davos, Switzerland
This document discusses climate change risks for infrastructure projects like railways. It uses the Konkan Railway Corporation Limited (KRCL) project in India as a case study. Some key points:
- KRCL connects two important ports but the terrain is extremely rugged with many rivers, landslides, and heavy rainfall, exposing it to climate risks.
- Past accidents on the railway have been caused by boulders and landslides during heavy rainfall events.
- KRCL has already spent over 280 crore rupees on additional safety works and plans to invest another 340 crore to reduce risks from boulders and landslides.
- Future climate projections for the region include increased annual rainfall and temperatures, making
Similar to Understanding Natural Hazards And Market Exposure - Natural Catastrophes: Have You Built Your View Of Risk ? - Dr Nicolas Pondard (2014) (20)
This document provides information about Property Claim Services (PCS), a division of Verisk Analytics that estimates property insurance losses from catastrophes. PCS is committed to serving customers and the global insurance industry through reliable and timely catastrophe loss estimates. PCS has been estimating losses since 1950 and uses actual claims data from over 60 years to improve its estimates. PCS data is used widely by insurers, reinsurers, modelers and other industry players. The document outlines PCS products and services, 2014 catastrophe activity, trends in catastrophe bond markets, and technology innovations.
This document summarizes trends in global health insurance markets and healthcare financing in Europe. It finds increasing demand for health insurance products globally, driven by aging populations, rising healthcare costs, and the growth of private solutions. In Europe, healthcare is financed through various social health insurance systems, with private medical insurance playing a supplementary or duplicative role. Turkey has experienced growth in private health insurance in recent decades but penetration remains low at less than 3% of the population.
Bulent Eren presented information on Turkey's health insurance sector. Some key points:
- Turkey has a population of 76 million with a GDP of $820 billion and per capita GDP of $10,700.
- The insurance sector includes 68 companies, with 61 active including 4 life and 18 pension companies.
- Health expenditures have grown significantly from $5 billion in 1999 to $76 billion in 2012, increasing as a percentage of GDP from 4.8% to 5.4% over that period.
- The Turkish health system includes both public and private providers, with financing from social security, private insurance, and out-of-pocket payments.
- Private health insurance premiums have grown substantially
CAT Management From Insurance Perspective - Turkish Natural Catastrophe Insurance Pool - VI. International Istanbul Insurance Conference - Musa Alphan Bahar (2014)
This document discusses how to make health insurance profitable through excellence across the entire value chain. It provides examples of elements that can support profitability, such as introducing copayments, bundling products, having over 95% of underwriting automatically approved, utilizing management techniques like case management and contracting providers based on package fees or capitation rather than fee-for-service. Consistently performing well across all of these areas can allow building and offering a product at a previously impossible price. The example of Medis in Portugal is discussed, which decreased its claims ratio below market average through higher prices due to its service level, operational quality, and control of its provider network.
The document discusses the future of underwriting and how talent and technology will transform the role. It notes that underwriters will take on more transformative roles like sales executives, decision makers using predictive analytics, and customer advocates. Technology like sensors, telematics, and automation will change underwriting processes. Those who invest in analytical talent and tools like data management and pricing optimization will be better positioned for the future.
The Benefit Of Technology In Claims Handling & Underwriting - Save The Date - VII. International Istanbul Insurance Conference Insurance Practitioners' Association - Oto Sigortaları Workshop (2015)
Use Of Geospatial Tools And Data For Underwriting And Claims - Turkish Insurance Conference on Technology Advances For Underwriting And Claims - Matthew Eagle (2015)
Developing and Deploying Analytics To Improve The Performance Of Commercial Portfolios - VII. International Istanbul Insurance Conference - David Ovenden (2015)
The document discusses how the insurance industry is facing disruption from rapid digitization, rising customer expectations, economic challenges, and sophisticated fraud. It states that digitization is transforming operations and business models. The new generation of customers expect highly personalized, responsive, and seamless experiences. Younger demographics are impacting the industry. The document recommends that insurance providers reshape their operating models, customer experiences, and value delivery through digital transformation to adapt to these disruptive forces.
Digitalization is spreading rapidly around the world. 96% of the world's population has a mobile subscription and 72% of people are online. Younger generations, like Generation Y, expect constant connectivity and self-service options. To engage these customers, insurance companies must embrace digitalization through mobile apps, optimized websites, and a digital strategy to avoid losing business. However, many insurance companies have not fully adopted digital yet.
1) The document discusses using technology to enable sustainable growth in the insurance sector. It outlines Aydin Satici's background and roles in information technology and his vision to use technologies like analytics, applications, mobility, cloud, and social media to improve business processes, increase productivity and profitability.
2) It proposes developing solutions like a mobile accident reporting app, sector analysis dashboards, and SMS services to provide damage information. It also details a fraud detection and prevention system that analyzes claims, policies, and social networks to investigate fraudulent activities.
3) Charts and figures show how the fraud detection system led to increases in the fraud detection rate and decreases in fraud amounts from August to December 2015, indicating its effectiveness
Blockchain technology offers benefits for the insurance industry by enabling a secure, distributed record of transactions that cannot be altered. This could streamline insurance processes and reduce costs. Specifically, smart contracts on blockchain allow insurance policies and claims to be executed automatically based on predetermined terms and data inputs without human intervention. Initial applications are being explored for industry loss warranties and parametric insurance policies that pay out based on event magnitudes from sensors rather than individual claims adjustments. However, blockchain has the potential for broader use in automating commercial insurance claims management and other processes throughout the insurance lifecycle.
Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
The document discusses fraud risk management at digital insurance markets in Turkey. It outlines SISEB's objectives to manage organized fraud risks on behalf of insurance companies and create new infrastructure for intelligence sharing. SISEB aims to coordinate fraud prevention and detection efforts, provide dashboards for risk analysis, raise fraud awareness, and foster cooperation between insurance firms to decrease financial losses from fraud. The presentation describes SISEB's strategies around detection, investigation, and prevention, and key performance indicators for measuring success.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Understanding Natural Hazards And Market Exposure - Natural Catastrophes: Have You Built Your View Of Risk ? - Dr Nicolas Pondard (2014)
1. NATURAL CATASTROPHES:
HAVE YOU BUILT YOUR VIEW OF RISK?
Understanding natural hazards and market exposure
Dr Nicolas Pondard, Divisional Director
25th September 2014
2. Why building your view of risk?
Probable earthquake near Istanbul: Economic loss USD 40-60
billion (TRY 90-130 billion). 5-10% covered by insurance (Erdik
et al., 2008).
30 to 40% of the 800,000
buildings damaged
40,000 fatalities and 120,000
injuries
Izmit earthquake 1999, insured loss USD 800m,
Economic loss USD 10bn (Lloyds, 2011)
(photo courtesy of AykutBarka)
2
3. Why building your view of risk?
Population +4% per year (Sigma, 2013), 70% living in urban
areas
Inflation +7 to 8% per year
Insurance penetration 1.5%
countrywide
Cultural shift: young
population used to insurance,
+15% annual growth
Compulsory earthquake
insurance (TCIP penetration
27%, Lloyds 2011)
Izmit earthquake 1999, insured loss USD 800m,
Economic loss USD 10bn (Lloyds, 2011)
(photo courtesy of AykutBarka)
3
4. Why building your view of risk?
To assess the likelihood of being insolvent
To estimate average annual loss and premium
If the probable maximum loss exceeds capital, need for
appropriate risk management decision
4
6. View of Risk
Sensitivity
Analysis
Scientific Appraisal – dialogue with model vendors
Hazard model
review
Vulnerability
model review
OWN VIEW
OF RISK
MODEL EVALUATION AND COMPARISON
Developing your Own View of Risk
Validation and
back-testing
Evaluation
Model
Adjustments
and blending
Willis Research Network
7. Risk Assessment
Example: Average annual loss from AIR and RMS
2 different approaches providing 2 different answers
7
8. Validation – Sensitivity analysis
AIR versus RMS losses: differences up to 100%
Understand model assumptions and limitations
8
9. Validation – Sensitivity analysis
Identify which approach is most appropriate
Use claims experience and latest scientific research
9
10. Earthquakes are not random
North Anatolian Fault: succession of active and quiet periods
10
Understanding Natural Hazards
(Pondard et al., 2007)
11. Understanding Natural Hazards
Likely scenario? Magnitude Mw 7.2 to 7.5 close to the Prince
Islands and central Marmara Sea (severe but 10 times less
powerful than a Mw 8.0)
Possibly more than one event in a year (sequence, aftershocks)
11(Armijo, Pondard, Meyer and the MARMARASCARPS Cruise Party,
2005)
(Pondard et al., 2007)
12. Understanding Natural Hazards
Secondary perils: e.g. Liquefaction, Landslides, Tsunami,
Fire following
Use of observed loss information and/or hazard data to
quantify non-modelled risk
12
Liquefaction potential
(KOERI, 2002)
ChiChi earthquake, Taiwan, 1999
13. Exposure data – the core of any
view of risk
Complete understanding of data and assumptions
13
17. Exposure Benchmarking
Exposure comparisons to alternative data sources (e.g., World
Bank distribution of building stock)
Developing a comprehensive understanding of the portfolio
17
18. Exposure Benchmarking
Peer comparison of data capture. Larger polygon = better data
Reinsurers tend to ‘load’ prices for uncertainty, where data is not
known or poorly captured
Where data quality is good, leverage to get more affordable cover
18
19. Validation - Sensitivity analysis
19
How changes in exposure inputs impact loss outputs
Post-2000 buildings, significant improvements in design codes in
Turkey.
33% drop in losses from masonry to reinforced concrete with MRF
Turkey Cresta Construction RMS v11.0
0.00%
10.00%
20.00%
30.00%
0 200 1,000400 600 800
Return Period (Years)
LossRatio
Masonry
Reinforced
concrete
Unknown
Reinforced
concrete MRF
w/ URM
Wood frame
(modern)
Steel
33%
20. Portfolio management
Impact of portfolio mix on PML and reinsurance costs
Leveraging cat model outputs to optimise the portfolio cat
exposure
20
21. Portfolio management
Allocation of portfolio level catastrophe risk to underlying
business units, split by peril
Transparent allocation method. Can be split by peril and
layer
Ensures your view of risk consistently feeds through into
underwriting, pricing, and capital management
21
22. Regulation
Support through the entire internal model approval process for
Cat risk
Justifying the view of Cat risk you use is robust and credible
22
23. Conclusions
23
Crucial: Internal strategy to collect detailed exposure data
Validation: In depth understanding of hazards, model
assumptions and limitations
And only then: Use it to support risk management decisions,
based on your own view of risk