Natural Catastrophe Response Planning: Adapting to a changing world (ASIA)

The nature of natural catastrophes is changing and traditional ways of preparing and responding are no longer as effective as they used to be. In 2017, global insured losses from natural and man-made catastrophes reached an all-time high of USD 144 billion, and 2018 was the fourth highest year on record. Insurers and reinsurers need to review their natural catastrophe response plans with a renewed perspective. The human resources available to respond are diminishing, while the technology is developing at pace that can be overwhelming. Not only is it important to have a plan, but to adapt that plan to the evolving claims environment.