The 3rd China Reinsurance Catastrophe Risk and Insurance Summit Forum and China Earthquake Catastrophe Model Conference Successfully Held
|source: 浏览次数： Release time: August 23, 2019Views:|
On August 22, at the 3rd China Reinsurance Summit on Catastrophe Risks and Insurance Summit and the China Earthquake Catastrophe Model Conference, China Re Group released China's first accredited by the China Earthquake Society, has independent intellectual property rights, and is commercially available. Application of "China Earthquake Catastrophe Model 2.0". This move will fundamentally change China ’s long history of relying entirely on foreign model company products, and it will be a milestone for the systematic improvement of China ’s ability to quantify the risk of earthquake disasters.
Since China Re Group established the China Reinsurance Catastrophe Research Center in 2017, it has held the Catastrophe Risk and Insurance Summit Forum for three consecutive years. At this forum, Shen Rujun, General Manager of Central Huijin Company, Niu Zhijun, Deputy Director of the China Earthquake Administration, Dong Degang, Deputy Director of the Finance Department of the Ministry of Finance, Wang Simao, Deputy Director of the Banking Insurance Regulatory Supervision Department, and Chairman of China Re Group Yuan Linjiang delivered speeches respectively. With nearly a hundred representatives from experts from the Ministry of Science and Technology, the Ministry of Emergency Management, the scientific research institutes in the field of earthquakes, the insurance industry and other parties, they witnessed the launch of the China Earthquake Catastrophe Model, and conducted in-depth exchanges on topics related to earthquake catastrophe risk management.
The "China Earthquake Catastrophe Model" is an important achievement of collaborative innovation among the government, academia, and enterprises. In order to better promote model development, China Re Group initiated the establishment of China Re Catastrophe Risk Management Company, the first fintech company focusing on catastrophe risk management in China, and introduced a professional model development team with rich experience in the world to aggregate China earthquakes. The Institute of Geophysics and the Institute of Engineering Mechanics of the China Earthquake Administration have developed and utilized a variety of scientific research data resources, and obtained special funding from the Ministry of Science and Technology's National Key R & D Program's special project "Earthquake Insurance Loss Assessment Models and Applied Research". With the joint efforts of many parties, the "China Earthquake Catastrophe Model" has been efficiently developed in just two years, and has now obtained the authoritative certification of the Chinese Earthquake Society, reaching the international advanced level. The model platform has been tested and certified by an authoritative software evaluation agency, and the technical appraisal certificate, Complete user documentation and technical documentation, complete training and operation service system, has reached commercial-level application requirements.
The "China Earthquake Catastrophe Model" has many characteristics such as high scientificity, strong practicability, and wide applicability, and has been highly concerned and fully recognized by the guests. Highly scientific, which means that the Chinese earthquake catastrophe model can simulate more than 300 million random earthquakes in mainland China and its surrounding areas for 5 million years. It is the first time to accurately calculate tens of thousands of different construction ages, heights, uses, and structural systems in China. The economic loss and insurance loss of buildings in simulating earthquakes are extremely fast, and the calculation results are in line with China's reality. The strong practicability means that the Chinese earthquake catastrophe model can be used for insurance companies' commercialization, formulate refined catastrophe risk zoning and limit management, quickly assess the insurance losses of underwriting business, and optimize the design of reinsurance programs; It is used by departments and other related units to quickly assess the economic losses caused by earthquake disasters and assist in the formulation of comprehensive plans for earthquake disaster prevention and reduction. Wide applicability means that the Chinese earthquake catastrophe model has established a customized service plan. Users can flexibly customize model applications in different scenarios according to their own needs, flexibly choose cloud online applications or deploy locally to achieve online integration with local systems. The popularization and application of this model can reduce the external dependence of China's insurance industry, improve the ability of independent science and technology, save costs, and improve the accuracy of earthquake loss assessment.
Shen Rujun, general manager of Central Huijin, pointed out that China Re Group, as the "national team" of China's reinsurance industry, actively responds to national and industry development requirements. The independently developed China earthquake catastrophe model is a major core technology in China's catastrophe risk management field. Breakthrough; Central Huijin will, as always, strongly support China Re Group to play a greater role in the construction of China ’s catastrophe risk management system; I hope that China Re will always maintain its original heart, abide by the glorious mission of the National Reinsurance, and continue to contribute more wisdom to the development of the insurance industry .
Niu Zhijun, deputy director of the China Earthquake Administration, pointed out that China Re's move to actively promote the application and commercialization of scientific and technological professional innovation in catastrophe risk management has important milestones in the development of China's earthquake insurance; China Earthquake Administration will As always, continue to support China Re's pragmatic advancement in earthquake insurance, and work with the industry to work hard to improve national disaster mitigation literacy in order to achieve the common goal of minimizing the risk of earthquake disasters.
Dong Degang, deputy director of the Finance Department of the Ministry of Finance, said that it is urgent to establish a catastrophic risk prevention mechanism in which the government and the market participate together. The achievements of China Re Group provide very important quantitative information and decision-making for decision makers and participants in catastrophic disaster risk management. tool. The Ministry of Finance will continue to actively support the development of catastrophe insurance, and study the gradual integration of catastrophe insurance into the disaster accident prevention and rescue system. It is hoped that China Re will continue to undertake the reinsurance mission of building a catastrophe risk management system.
Wang Simao, deputy director of the Banking and Insurance Regulatory Commission's property insurance supervision department, said that China Re's release of the China Earthquake Catastrophe Model with independent intellectual property rights is a useful practice for connecting national strategies and the development of the service industry. It is hoped that this result can effectively increase China's catastrophe risk Manage technical skills and expect reinsurance to play a unique role in supporting national strategies to serve.
Yuan Linjiang, chairman of China Re Group, stated that the Party Central Committee has clearly stated that it is necessary to establish an efficient and scientific natural disaster prevention system to improve the society's ability to prevent natural disasters. Reinsurance is an indispensable and important part in the construction of a catastrophe risk management system. The release of China ’s earthquake catastrophe model has injected new kinetic energy into the insurance industry ’s deep participation in earthquake disaster prevention and mitigation. It is a milestone that fills the gap in China ’s model of autonomous and controllable earthquake catastrophe that does not meet China ’s actual needs. The important achievements of the "One Three Five" strategy and "platformization, science and technology, globalization". In the future, China Re will continue to work with all parties to jointly build an industrial, professional and innovative catastrophe open sharing platform, continue to increase the research and application of catastrophe risk management technology, and promote the insurance industry to become a huge Make greater contribution to the construction of disaster risk management system.
The forum focused on the frontiers of earthquake risk management and exploration of insurance practices in China. Academician Ou Jinping, Chinese Academy of Engineering, former researcher Gao Mengtan, deputy director of the Institute of Geophysics, China Earthquake Administration, Wang He, deputy chairman of the Chinese Society of Actuaries, Zhang Jianguo, chief engineer of the Earthquake Administration of Yunnan Province, Ryan Crompton, general manager of Risk Frontiers Australia, and chief geological expert Paul Somerville, and Chen Sen, Chief Actuary of China Pacific Property Insurance Co., Ltd .; Fan Jiemin, General Manager, Group Property and Casualty Department, China Ping An Property & Casualty Insurance Co., Ltd .; Li Xiaojun, Secretary General, China Earthquake Society; Zuo Huiqiang, Chairman, China Re Catastrophe Risk Management Corporation , General manager Feng Jian, deputy general manager Zhou Junhua and other experts and scholars at home and abroad, as well as veterans of the insurance industry, focus on the development and commercial application of earthquake models in China, the construction of earthquake emergency management systems, post-earthquake reconstruction, the pilot application of earthquake insurance, and international earthquake insurance experience, etc. Theme, conducted in-depth discussions and exchanges.
China Re Group Vice Chairman, President and Chun Lei chaired the forum. He said that the release of the China Earthquake Catastrophe Model is a new starting point for China Re Group to devote itself to catastrophe risk management and serve the country's modern risk governance. With China Re Catastrophe Risk Management Company as an innovative entity, it will aggregate resources from all parties, accelerate the construction of the industry infrastructure for catastrophe insurance in China, and continue to help our government and the insurance industry to improve their capabilities for catastrophe risk management and escort the people's good life.
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