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Seminar on “Data quality requirements and CAT modeling”
After a seminar on Natural Catastrophes in October 2016 and a second one on “Onshore and offshore Energy” on 3rd and 4th of February, 2018, SCOR Global P&C organized a third seminar in Iran, focusing on “Data quality requirements and CAT Modeling” on the 13th and 14th of February 2018 at the Research Center of Bimeh Markazi Iran (Central Insurance of IR Iran).
Around 70 Iranian insurance practitioners participated in the seminar.
SCOR Global P&C speakers were Marie-Laure Fandeur (Cat Manager, Paris – EMEA P&C Treaties), Ismaël Riedel (Cat Modeler, EMEA P&C Treaties) and Henry Bovy (head of Cat Analytics, Paris) and Dr. Mohammad R. Zolfaghari (Cat Risk Solutions)who developed a Cat model for earthquake in Iran, shared his experience on Cat modeling.
The seminar was inaugurated by Mostafa Zandi, Director General of Public Relations and International Affairs of Bimeh Markazi, Marc Buker, SCOR Global P&C Treaty Market Manager of Iran, and Sina Nassiry, SCOR Global P&C Treaty Underwriter of Iran.
Several technical topics were discussed including:
· Reasons to use a Cat Model for the insurance market
· Examples of recent Cat events
· Development of the Iranian Earthquake model (CRS)
· Lessons learnt from the last earthquakes in Iran
· Description and limitations of Cat Model
· Impact of data exposure (Construction, Occupancies, Sums insured per address) and insurance policy information on the Cat modeling results
· Example of Data for Large Industrial Risks
· Evolution of Data quality in other countries
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