Natural catastrophes (Nat Cat) disproportionally affect Asia in terms of economic losses and casualties, which in large part could be attributed to: (i) the low insurance penetration, (ii) low catastrophe (cat) risk awareness in the region, and (iii) in comparison with Western countries (e.g. Europe, US) lack of effective risk transfer mechanisms of the cat risk.

However data necessary for catastrophe risk quantification in Asia and in SE Asia, is in general poor in terms of availability, accessibility and quality. ICRM is leading the establishment of a Natural Catastrophe Data and Analytics Exchange (NatCatDAX) Alliance as an association of industry interest group to address the above data and modelling gaps, through an industry-led catastrophe data and analytics platform for Asia Pacific and starting with SE Asia.