Activities of CoCB

The Centre of Competence for Biosciences (CoCB) closely tracks the tumultuous advances being made in genetic engineering.

CoCB fulfils two main functions for Munich Re by providing a service for our staff and clients and by satisfying our objective of attaining opinion leadership for Munich Re on genetic engineering and insurance. This brings us closer to our ultimate aim of being the preferred partner in risk.

The team is currently devising strategies for advising underwriters and clients on the impact of these developments and advances on insurance and reinsurance business. As a service to underwriters, we are able to answer questions such as:

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  How much acreage worldwide is now devoted to cultivating genetically modified (GM) plants?
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  Have any deaths occurred as a result of gene therapy?
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  How are biochips for genetic tests designed and which diseases can they be used to diagnose?
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  How do we assess genetic tests in medical underwriting?

In order to have a sound and reliable database available at all times, the members of the CoCB are building up a modern database that will be able to analyse and store current articles, trends and figures. To deal with particularly complex problems, the centre can draw upon the resources of a steadily growing network of top-notch scientists, associations and political organisations.

The CoCB sees itself as a hub for the exchange of knowledge relating to biotechnology and genetic engineering, the main idea being to help underwriters make better decisions based on a clearer understanding of the complex issues involved.

The CoCB makes its expertise and know-how available to Munich Re underwriters and clients all over the world, for example in response to enquiries regarding the assessment of risks in the biotechnological production of pharmaceuticals or the insurance of genetically altered seeds. We also pass on our knowledge by offering seminars for external participants. If conferences on genetic engineering are interested in hearing the opinion of an insurer, the CoCB provides speakers and discussion panelists.

The centre also engages in independent research work and develops risk and loss scenarios relating to genetic engineering. Initial work has already been done in the Life and Health Division, which investigated the relationship between genetic tests and life policies. In connection with liability insurance, the CoCB is to model scenarios involving allergies attributable to genetically modified food. The results of this work could be applied in product development and contribute to new concepts of cover.