5th ICRM Industry Roundtable
Date: Fri, 28 February 2014
Venue: MAS Building, 10 Shenton Way, Singapore 079117
“Progress in Agriculture Insurance in China”
With a premium volume of USD 5 billion, agriculture insurance in China has advanced to become the third largest line of insurance in China and to be the second largest market for agriculture insurance globally after the US. Risks are getting increasingly complex with a variety of crops, livestock, forests and greenhouses being insured across most of the provinces.
Mr Yang in his former role as Vice Governor of the Jilin province has closely been involved when agriculture insurance was introduced in his province in 2007. He now acts as a senior consultant to the China Agriculture Risk Management Society (CARMS) which directly advises the Chinese government on agriculture insurance. Mr Liu acts as the Assistant General Manger of the insurer Groupama-Avic which is the third largest insurer in China in terms of agriculture insurance premium and which is fully dedicated to rural business including the development of innovative products for the Chinese market.
“Geo Coding in Nat Cat Underwriting”
Knowing the precise location of high value exposure such as industrial parks or hotel facilities is of fundamental importance to assess and manage the risk from natural disasters. Munich Re has developed an underwriting tool which allows geo-coding of risks for natcat underwriting including a look-up functionality of natural disaster zones and footprints. In his role as Head of Property Treaty Underwriting at the world’s largest reinsurer Munich Re, Mr Matti Siitonen has been largely involved in the development of geo-coding approaches for property risks.