#34 - Dr. Tina Thomson - How is Data Transforming Catastrophe Reinsurance?

In this podcast, we speak with Dr. Tina Thomson, Global Head of Research and International Catastrophe Analytics at Gallagher Re, from Gallagher Re, a reinsurance broker.

The topics discussed relate to better information management, focusing on digital data and decision-making in the context of catastrophe modeling. Tina elaborates on her role and career progression, emphasizing her work in catastrophe modeling which involves assessing and mitigating risks from natural disasters (like earthquakes, floods, hurricanes) and man-made catastrophes (like cyber-attacks and terrorism).

Key Points Discussed:

 - Introduction to Gallagher Re and Dr. Thomson's Role: Tina works in catastrophe analytics and leads the international team, covering Europe, the Middle East, Africa, Asia-Pacific, and Latin America. She also heads the Gallagher Research Centre, linking academic research with industry needs.

- Data Quality and Management: The importance of data quality and metadata in catastrophe modeling. Tina explains how data is collected, audited, and used in risk assessment and decision-making.

- Emerging Risks and Technologies: Discussion on evolving risks like cyber threats and geopolitical instability. Tina also touches on advancements in AI, data processing, and the role of climate modeling in understanding and predicting future risks.
- Parametric Insurance: Explains the concept of parametric insurance, where predefined triggers lead to payouts, primarily used in regions without established insurance frameworks.

- Future Trends: The podcast wraps up with Tina discussing the future of catastrophe modeling and insurance, highlighting the importance of continuous research, data insights, and adapting to new types of risks.

References:

Gallagher Re: https://www.ajg.com/
Disaster Risk Management Professional Practice Group, RGS:
https://www.rgs.org/professionals/professional-practice-groups/disaster-risk-management-ppg
Oasis Loss Modeling Framework: https://oasislmf.org/
Lloyd's of London: https://www.lloyds.com/
World Bank: https://www.worldbank.org/
Royal Geographical Society: https://www.rgs.org/
Remote Sensing and Photogrammetry Society: https://www.rspsoc.org.uk/

#CatastropheModeling #Insurance #Reinsurance #DataQuality #DigitalData #RiskAssessment #AI #ClimateModeling #CyberRisk #ParametricInsurance