The SEADRIF Insurance Company is delighted to participate in the 20th Asia NAT CAT and Climate Change Summit 2024, held on 10-11 July in the Philippines and organized by Asia Insurance Review. Natural catastrophes (NAT CAT) present formidable challenges for the global insurance industry. In the Asia Pacific region alone, natural catastrophes caused $65 billion in economic losses, with a staggering 91% of these losses going uninsured. Bridging this protection gap presents both challenges and opportunities for the Asia Pacific region.
The event brought together experts, policymakers, and industry leaders to explore innovative strategies, share insights, and foster collaboration in managing and mitigating the impact of natural disasters, charting a resilient future.
Mr. Benedikt Signer representing the SEADRIF Insurance Company, delivered a speech on the unique approach of working with the public sector in disaster risk financing. He underlined that buying insurance is not merely a technical decision, but rather a process of stakeholder engagement informed by technical inputs. He introduced SEADRIF and its distinctive setup to provide ASEAN countries with insurance and technical solutions to strengthen financial resilience against climate shocks.