Daniel Stander, UNDP; Bhaskar Chattaraj, TigerRisk; Sébastien Piguet, Descartes Underwriting; Meghan Purdy, Jupiter Intelligence
A panel of experts on modelling argued how and why the approach needs to change fundamentally, starting with building forward-looking nat cat models.
Climate change keeps surprising the risk modellers, and it’s not a new problem.
“You take an event like Houston, like Hurricane Harvey—was there a catastrophe model that captured an event like that sufficiently? My understanding is no, there wasn’t.”
These were the words of Daniel Stander, special advisor at the United Nations Development Programme (UNDP), talking about the failure of current natural catastrophe models to capture the true impact of climate change as it intensifies and increases the frequency of severe global weather patterns.
UNDP, TigerRisk, Descartes Underwriting, Jupiter Intelligence, Climate Change, Insurance, Reinsurance, Daniel Stander, Bhaskar Chattaraj, Global