Mitigating Climate Disasters for Insurability
An evolving crisis is emerging. Worldwide economic stress and damage from natural disasters in 2018 totaled $165 billion, and 50% of that total was uninsured. Countries experience losses unequally, with the highest economic costs being felt by large economies, while death and non-economic costs are higher in smaller, poorer economies.
The research uncovered ways to make it easy for insurance companies to embrace new models for mitigating climate disaster impacts on the societies they serve. Several frameworks were identified as solutions to drive change and improve adoption of dynamic optimization tools:
Improve financial performance with new tools, modeling, and processes.
Help underwriters understand how the nature of risk is changing across their company portfolio.
Model secondary perils across the industry.
