Natural Catastrophe Management in China
Editorial by Hugh Terry
China suffers disproportionately from natural catastrophes includings floods, earthquakes, hurricanes and droughts. This month we examine the efforts made to detect and mitigate against natural catastrophes in China. We investigate how this takes place through both state-backed efforts, as well as through InsurTech and re/insurance products, including from Swiss Re. Finally, this month we speak to Renzo Liu from An Bang and Nick Luo from Tsinghua University about the convergence of natural catastrophe prevention with digital insurance.
The Digital Insurer
China suffers disproportionately from natural disasters, and with a relative lack of private sector investment, the government has taken the initiative to invest in several natural catastrophe management projects and economic incentives that include public private partnerships with reinsurers.
Can technology help the insurance industry prepare for the worst? Swiss Re's Cindy Zhang presents the case.
This month we look at an early response and detection system for earthquakes in China consisting of 15,000 observation stations that will cover the mainland by 2020.