CAT Risk Management & Modelling Agenda

08:30

08:50

CAT RISK – LOOKING TOWARDS THE FUTURE

09:00

  • Size of economic and industry loss of Mexico Earthquake, US Hurricane, Caribbean Hurricane and California Wildfires – how would such a series of events play out in this region?
  • Soft market impact to risk management
  • Evolution of the risk within catastrophe model – where did it perform well and poorly?
  • Modelling considerations going forward

OPEN MODELS – THE PATH TO COMMUNITY COLLABORATION 

09:30

  • Understanding the benefits of open loss modelling platforms 
  • Development of an ecosystem and the spirit of collaboration  
  • Use of open models for risk management in insurance and beyond 

10:00

10:30

  • Implementing a model on an open framework 
  • Technical benefits of a structured approach 
  • Real life demo 

11:00

  • Open models and platforms in use 
  • Challenges faced and solutions found 
  • The future of open modelling 

11:40

For thought leaders and solution providers, this is an exclusive opportunity to interact and engage with key decision makers. To learn more about sponsorship opportunities and how to get involved in facilitating the interactive round table sessions, contact info@aventedge.com

12:20

FLOOD RISK MODELLING 

01:20

  • Managing flood risk in Australia
  • Should flood still be considered and viewed a secondary peril of cyclone?
  • How have available models performed? What more can be done?
  • Overcoming challenges in exposure data resolution
  • What are the key challenges faced by developers?

MODEL COMPARISON SESSION

02:20

  • Introduction and overview of the model evaluation
  • Methodologies to evaluate and validate a model – what are the major differences between models?

02:20

  • CAT model results and findings
  • Examining comparisons from the results by model provider

03:10

03:30

  • Comparing outcomes from the scenarios and its impact on risk management
  • Interpreting modelled losses from actual events, and factors driving output discrepancies 
  • What to do when models disagree and what this means for risk-based decision making
  • Q&A

04:30

04:40

08:30

08:50

UNRAVELLING EARTHQUAKE RISK IN AUSTRALASIA 

09:00

  • Overview of Geoscience Australia’s updated earthquake model 
  • Overcoming uncertainties and challenges in managing this multiperil destruction
  • Opportunities for risk reduction

09:20

  • Spatially varying reduction in earthquake frequencies and ground motion hazard level
  • Spatially varying reduction in earthquake losses
  • Australia wide, revised residential AAL and 200-year ARI loss showing substantial reductions

09:40

  • What are the impacts for re/insurers?
  • Challenges and opportunities in re/insurance going forward 
  • Shared Q&A 

10:10

  • Use of models – Broadening use cases
  • Managing interconnected risks 
  • Improved technology & what it means for the (re)insurance industry

10:30

CAT RISK PRICING  

11:00

  • Traditional applications of claims data for pricing  
  • The climate change signals currently indicated by the insurance data 
  • The use of alternative data sources and the value of attribution studies 

11:30

  • Examples of initiatives adopted by insurers 
  • Metrics demonstrating how RACQ’s policyholders have responded 
  • Real world challenges in delivering on the ideal world 

BUSHFIRE RISK MANAGEMENT & MODELLING 

12:00

  • Evolution of the modelled risk 
  • Methodologies for risk assessment 
  • How did the models fare against recent events? 
  • Pricing and exposure management using the model

12:50

CAT MANAGEMENT – EVOLUTION OF RISKS 

01:50

  • What do we know about the risk of future catastrophic climate events?
  • What do we know about the risk of events you should care about?
  • Can we close the knowledge gap?

02:10

  • Climate change – a growing issue for insurers and regulators
  • Challenges of modelling changing hazards and risk
  • Consequences for insurers managing climate risk

02:30

  • Current approach and insurance penetration in Australia 
  • Methodologies for risk assessment 
  • Preparing for the future of the cyber insurance market 

03:10

CAT RISK 2025

03:30

  • Market update and trends in the ILS market 
  • How did the market respond to recent global catastrophic events? 
  • Continuing and emerging trends: trigger and coverage type, capital and new entrants 

04:00

04:40

04:50