新加坡保险协会 设计和定价具有弹性的综合保险产品.pdf

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1、SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Designing and Pricing Resilient General Insurance ProductsTexas HongDirector,General Insurance Association of SingaporeSINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Outline Overview Climate Change Cybersecurity TakeawaysSINGAPORE ACTUARIAL CO

2、NFERENCE 202426-29 August 2024OverviewFrom Fire&Marine to Climate&Cyber We live in a volatile,uncertain,complex,and ambiguous(VUCA)world Scope of this presentation Climate Change and Cybersecurity We will explore the:evolving nature of these riskslimitations of historic datarole of insurance as a so

3、lutionimportance of a multipronged approachways to design and price resilient general insurance productsSINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Climate ChangeRising Tides and Brewing Storms Nat Cat economic losses:USD 49 million in 1970s to USD 383 million per daytoday(United Nations)Nat

4、 CatcausedUSD 65 billion economic lossin Asia Pacific in 2023(Aon)Climate change is a major exposure to insurers domiciled in Singapore as it isaregionalhub.In 2022,OIF SGD 16.5 billion vs SIF SGD 5.2 billion(MAS)SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 20241.45CGlobal mean temperature in 202

5、3 was 1.45C above the 1850-1900 average.2023The warmest year on record due to climate change and 2023/2024 El Nio90%Ocean absorbs 90%of energy warming climate to record levels in 2023.110mm(4.3 in)New high in global sea levels in 2023Source:World Meteorological Organization(WMO)SINGAPORE ACTUARIAL C

6、ONFERENCE 202426-29 August 2024SINGAPORE ACTUARIAL CONFERENCE 202426-29 August 2024Climate ChangeLimitations of historic data Historicaldata obsolete due to unprecedented climate events Incomplete datasets hinder accurate modelling,particularly for risks indeveloping markets Engineering technology u