Ms. Shannen Nicole Chua, Implementation and Program Development Specialist at SEADRIF Insurance Company, spoke at 'Engagement 3: Innovation,' at the CLIMBS 53rd General Assembly Educational Forum. The event, themed "Identity, Impact, and Innovation: Cooperatives – Now and the Future," took place on 28 April 2025. It brought together cooperative leaders and organizations from across the Philippines to explore the evolving role of cooperatives in shaping the future.
In her presentation, Ms. Chua examined how cooperatives, along with risk pools like SEADRIF, insurance partners, and other risk finance stakeholders, can drive innovation across data, product development, and distribution. She emphasized that innovation is not solely about adopting the latest technologies, but about reexamining existing challenges with fresh perspectives to uncover practical and effective solutions.
Addressing the topic of data, Ms. Chua highlighted the abundance of risk-related datasets available today. However, she also acknowledged the difficulties many stakeholders face in interpreting and applying this data to make informed decisions. To illustrate this point, she compared technical loss exceedance curves with relatable anchor events, such as Super Typhoon Haiyan or Typhoon Ketsana, stressing how contextualizing model outputs helps create shared understanding among stakeholders.
SEADRIF thanks the organizer CLIMBS Life and General Insurance Cooperative Official for the invitation.
