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Summary
Climate change has the potential to reshape the property insurance market. States and regions that have not been typically viewed as natural catastrophe prone are now facing additional perils, from the increase in floods in Iowa to wildfires in Colorado. This shift is impacting both “acute” risks, such as flood, hurricanes, and wildfires, and “chronic” risks, like rising sea levels, drought and water stress, and periods of extreme heat and cold.
Winners in the insurance industry in the next five to 10 years will be those who are better able to harness climate data to better understand shifting risks. They’ll have the potential to be nimbler and more targeted in their underwriting and risk selection.
Discussion Questions Include:
- Overview of available climate data and how it is used today
- Where climate change has already impacted risks
- How climate data can help manage aggregate exposures
- How to better incorporate climate data into long-term portfolio planning
- What are the impact of new SEC regulations on product innovation, modeling and data?
Speaker
Pradeep Venkatesh
Associate Director of ESG Strategy
Pradeep is the Associate Director of ESG Strategy for Sustainable1 at S&P Global.
Liz Henderson
Head of Climate Risk Advisory
Liz Henderson is a Catastrophe and Climate Risk specialist with twenty years of experience in risk analytics and risk consulting for U.S. P&C Insurance Carriers. Liz leads Aon Re’s Climate Risk Advisory group which provides consulting, bespoke catastrophe model adjustments and climate hazard data to help organizations develop a View of Risk that considers both current and future impacts aligned with selected climate change scenarios.
Tobias Grimm
Head of Climate Advisory and NatCat Data
Tobias Grimm is Head of Climate Advisory and NatCat Data with Munich Re’s Climate Change Solutions Department.
Steve Bowen
Chief Science Officer
Steve has nearly two decades of insurance industry experience and is currently Chief Science Officer at Gallagher Re.
Moderator
Meg Green
Senior Editor
Meg Green is managing editor of Insider Engage.
Event Support