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The solution for the insurance industry

Losses from natural disasters and climate change are on the rise.
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    The insurance industry is particularly affected by natural disasters and climate change. According to Munich Re’s NatCatSERVICE database, in 2023 the resulting economic losses worldwide amounted to US$ 250 billion.*


    All continents are affected by these risks. This also applies to the type of events, whether they are geophysical, meteorological, hydrological, or climatological - and with a correspondingly significant impact on the financial results of every insurance company in the world.

    *Source: Record thunderstorm losses and deadly earthquakes: the natural disasters of 2023

    4 solutions for the 4 biggest challenges you face each day as an insurer

    1) Reduce your financial risk by reliably identifying risks that may arise from the effects of climate change and adapting your product offerings to changing conditions. Location Risk Intelligence supports you with up-to-date and reliable climate data for different scenarios to enable you to assess these risks in an informed way.

    2) Optimise the risk-adjusted returns of your investment portfolio by assessing the exposure of your assets to risks that can be expected from climate change. For investment managers in particular, a sound assessment of these risks is critical for assets which are held in order to generate long-term returns.

    3) Benefit from better business continuity management planning by considering the impact of natural disasters on your staff, operating resources, and supply chain. At a time when your customers are increasingly affected by natural disasters, you need to ensure that your staff and operating resources are fully functional in order to meet the growing requirements of your customers.

    4) Meet the increasing demand for greater transparency with ease. As a central platform, Location Risk Intelligence enables you to comprehensively assess the combined impact of natural disasters on assets, liabilities, and operational processes for both internal management and external reporting.

    Sompo Sigorta
    We employ Munich Re’s Location Risk Intelligence, a robust risk management tool for the insurance industry, to effectively identify and assess catastrophic risks associated with natural disasters and climate change through data analytics and predictive models.
    Barkin Goksel
    Risk Engineer Team Leader
    Sompo Sigorta

    Don’t waste any more valuable time! Book your live demo right now

    Global Investment Portfolio Overview
    © Munich Re

    Core insurance tasks in which Location Risk Intelligence supports you with reliable climate data:

    Non-life underwriting
    In quantifying the impact of natural disasters on insured assets in order to properly assess and price these risks, which vary widely by location, at the right level of detail.
    Life and health underwriting
    In assessing the impact of climate change on the health conditions of your policyholders, so that you can take this into account as a life and health insurer throughout the entire policy period.
    Strategic underwriting
    Assessing the impact of climate change on the living conditions and assets of your customers, both to effectively adapt your product offerings and growth targets to future climatic conditions, and to identify the most promising market segments and balance your risk exposure.
    In accurately assessing and managing climate risks when you acquire new assets and in the management of your investment portfolios.
    Balance sheet management
    Assessing and managing the potential impact of anticipated climate change risks on your balance sheet, including capital allocation.
    Reporting and regulatory response
    In preparing non-financial publications in order to inform investors, regulators and other stakeholders about your company's exposure to climate change risks.
    Portfolio management
    In assessing your portfolios for their exposure to natural disasters and the impacts of climate change, as well as in reviewing and, if necessary, adjusting your portfolio strategy.
    Risk modeling
    In recording the main risks your company is exposed to from natural hazards and climate-change directly in your modelling tools.

    It’s time to reduce your risks! Book your live demo right now