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Climate Risk Insurance

Product Development Training

Overview

Natural disasters are a major impediment to development in many countries, undermining sustainable development and leading to loss of lives and livelihoods. The course will help to understand the spectrum of solutions offered by innovative climate and disaster risk insurance products as an essential element of a comprehensive risk management strategy. Participants will be introduced to the process of product development as well as tools and models relevant for climate and disaster risk analysis, insurance product design and pricing.

NEW:  French simultaneous translation provided

child looking at boat

Discounts

Please note that we can offer the following discount:

  • 500 EUR Early Bird discount
  • 10% for each institution sending more than one participant* 
  • 10% Alumni Discount
  • 10% Discount for partners of the InsuResilience Solutions Fund

* successfully enrolled

17 - 20 September 2024

Topics Covered

  • Understanding the relevance of climate and disaster (C&D) risk insurance
  • Understanding the process of designing and developing C&D risk insurance products
  • Comprehensive analysis of climate and disasters risks based on quantification of expected damages and cost-benefit analysis of climate adaptation measures including C&D risk insurance
  • Introduction to risk pricing and placement processes for C&D risk transfer products

Target Group

The training targets participants from the public and private sector responsible for climate and disaster risk management, including representatives (managers at mid-level and above) from public administration and agencies at national and sub-sovereign levels, regional and national development agencies/banks, financial intermediaries and insurance companies interested in the subject. Significant insurance expertise is not required.

Tuition Fees

On-Campus

Normal Fee: 3.350 €1

Early Bird Fee: 2.850 €until 15th August 2024

1Excluding accommodation 

Learning Objectives

  • Understand the relevance of climate and disaster (C&D) risks in developing and emerging economies and the expected future impact on sustainable development
  • Learn about the spectrum of innovative C&D risk insurance schemes and lessons learned, their relevance and complementarity to other financial instruments to manage C&D risks
  • Familiarize with international initiatives and support programs to increase access to C&D risk insurance and overcome existing barriers of market development
  • Apply existing risk analysis tools and models to assess C&D risks to define comprehensive climate adaptation policies including C&D risk insurance
  • Explore the different elements of the development process for climate risk insurance products, covering relevant aspects for a comprehensive concept :
    • Risk analysis,
    • Demand analysis,
    • Data management,
    • Product design,
    • Distribution strategy,
    • Policy/ claims management
  • Understand the elements of the climate risk insurance pricing process and premium components  

The participants will apply the content of the course in case studies in order to become familiar with the relevant tools and models.

Course structure

The intense training course will be implemented over a period of 3 days and includes the following components:

  • The participants will apply the content of the course in case studies to become familiar with the relevant tools and models.
  • Live sessions with the trainers provide the content on the technical subjects.
  • Key note speech from the insurance industry.
  • High-level representative panel discussion.
  • The course also serves as an opportunity for networking among participants to share experiences and create networks for future work in their home countries.

Day 1: Build your network: get to know industry players from around the world.

Day 2: Introduction to C&D risk insurance, its relevance in the broader risk reduction context, and modelling C&D risk to identify the protection gap

Day 3: Innovative climate risk insurance solutions and introduction to (re)insurance markets and trends

Day 4: Climate risk insurance opportunities and limitations plus elective option*:

- Hands-on insurance pricing & model build

- Deep dive into C&D risk modelling

- Climate and disaster risk financing and insurance

Upon completion of the course, participants receive a certificate of attendance.

*subject to change

Registration

Registrations for the programme from 17 - 20 September 2024 are now open. Register until 15th August 2024 to benefit from our early bird discount.

Our Team of Trainers and Experts

Detken, Anne

Dr. Annette Detken

Annette is working as senior consultant in the area of climate risk finance and insurance. Since 2015 the support of insurance market development and risk financing approaches has been a focus of her work. Annette is Head of the InsuResilience Solutions Fund managed by Frankfurt School and Director of Climate Risk Solutions Management. Prior to her advisory work Annette was Head of Division of the Financial Sector Policy Unit within KfW Development Bank responsible for all policy and strategic issues regarding KfW activities in financial system development in developing countries. Facilitating the dialogue of different stakeholders from the public and the private sector Annette contributed to the establishment of the InsuResilience Global Partnership, an international initiative supported by the G20 and V20 member countries.

Michel, Gero

Dr. Gero Michel

Gero has a long career working in underwriting, risk management, data and analytics related roles in insurance and reinsurance, with a focus on portfolio management, pricing, capital efficiencies, and product development. He has over 30 years of risk management experience, with expertise gained working as a geoscientist in academia and in disaster research, with a PHD in Geoscience. As AIG Re Group's Chief Risk Officer, he is a member of the executive board of the company and optimizes risk and portfolio/capital strategies and assists in the creation of new insurance-linked securities (ILS) product opportunities, among others. Prior to this hiring by AIG, he was the lead for Aon’s UK & EMEA Analytics within its Reinsurance Solutions division. Gero had worked at Chaucer before that, as Managing Director of Chaucer’s EU operation, in charge of P&L, and with responsibilities for analytics, underwriting for EU, and parametric solutions for both emerging and developed markets. He has also held senior positions at Montpelier Re, Willis, RMS, Endurance and Hannover Re.

Josh Ling

Josh Ling

Josh Ling is an actuary and disaster risk finance expert supporting the programs of the Frankfurt School of Finance & Management.  He was previously the Fund Manager of the Asia-Pacific Climate Finance Fund at the Asian Development Bank (ADB) in Manila, Philippines. Josh commenced his career in the financial sector in Australia, where he qualified as an actuary, before moving into roles focused on financial inclusion and disaster risk finance in the international development sector.  He has worked for the UN World Food Programme, World Bank, and the global humanitarian organization, Mercy Corps.  Josh was based in Mexico and Colombia for 7 years, supporting the establishment of a start-up reinsurance company, MiCRO, that designs and implements disaster risk insurance solutions in Latin America.   

Simon Wild

Dr. Simon Wild

Simon holds a PhD in Atmospheric Sciences and Meteorology. He specializes in climate risk assessments and climate science translation, working at the interface between science and policies/finance for over 10 years. Currently, as part of the International Advisory Services team at Frankfurt School and Senior Researcher at the InsuResilience Solutions Fund, he is working towards the aim of increasing the resilience of (climate) vulnerable and emerging countries. This primarily includes the creation of climate and disaster risk profiles for several assets, hazard mapping, providing decision support for policy makers for climate adaptation measures, and engagement with the private insurance sector. He is also part of the technical expert team of the recently launched public-private Global Risk Modelling Alliance (GRMA). His previous academic career included a Postdoctoral position at the Barcelona Supercomputing Center and a Climate Scientist posting at the University of Birmingham, where he undertook climate prediction modelling and the analysis of extreme events.