Jakarta, July 2nd 2019 – In the past years, the frequency of devastating events had increased. Last year, Typhoons Jebi and Trami, floods in Kerala and earthquake and tsunami in Indonesia put a devastating end to the horrific year as the fourth most expensive for insured catastrophe losses.
Shitalkumar Khandar, AIG Asia Pacific Catastrophe Management Lead joined with panel of speakers in Asia Nat Cat and Climate Change Conference to share his knowledge on Nat Cat Exposure in Asia Pacific.
“Nat Cat exposure landscape is changing. Because of uncertainty, exposure and complexity have increased”, said Shitalkumar during his presentation.
“Preparing for the worst we have seen is not the same as preparing for the worst”, he added.
Insurance has significant role in managing Nat Cat risk through the implementation of its technology and innovations to oversee the risk and ethical underwriting that can influence the behavior to help save the earth. The insurance gap in Asian countries is relatively high, collaboration and partnership from all the stakeholders is expected to narrow this gap.
“AIG has focuses in managing risk for commercial industries. We supported by global knowledge and expertise to see the trend and also impact from many catastrophe events around the globe. Asia Nat Cat and Climate Change conference is a great forum where all stakeholders can start to build partnership and provide their efforts in minimizing barriers to address this increasingly concerning exposures”, said Robert Logie, CEO & President Director of AIG Indonesia who participated in the conference. “
Asia Nat Cat and Climate Change Conference with theme Managing the Protection Gap to Keep Insurance Relevant & Sustainable held on 2 – 3 July 2019 at Jakarta, Indonesia. This conference organized by Asia Insurance Review.