How reinsurance can help resolve the protection gap
In this IIL reinsurance lecture Moses Ojeisekhoba reasoned that as the Protection Gap reaches a premium potential of USD 800 billion globally, the re/insurance industry needs to stand together, building partnerships and leveraging technology to extend insurance coverage to more people.
Moses explained that by closing the large global natural catastrophe protection gap that exists around the world can be a win for communities everywhere, but also for our industry. Moses provided some interesting figures such as over the last decade global natural catastrophe losses totaled USD 2 trillion, 70% of which was uninsured according to Swiss Re Institute estimates. The protection gap persists in emerging, as well as in advanced markets, and across all lines of business. And with global estimated premium potential of USD 800 billion, it would benefit our industry to address this issue. Technology and public/private partnerships are presenting us with the opportunity to do so, but will we seize this opportunity?
By the end of this lecture members would have gained an insight into:
- What does the Global Protection Gap look like in numbers?
- What are the main drivers for the protection gap?
- How technology and partnerships can support to close the protection gap
Chair:
Adrian Wentworth-Stanley, Executive Director, Willis Re.
Registration & Security
CPD events are open to CII and PFS members
Registration closes at 12pm two working days before the event date
For events held in The Old Library, Lloyd's pass holders may also attend and do not need to register
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Conditions:
- Email confirmations and original photo ID must be produced to security staff at the lecture venue
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Contact:
Please contact Patricia Pedraza (07463 028327) with any queries regarding the CPD events programme.
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CII Accredited
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.