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Published byEllie Lowe Modified over 10 years ago
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Analytics at Work For Disaster Relief
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The Gap The Potential The Ingredients The Future
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1.Gujarat Earthquake Jan 2001 Economic loss Rs.23000 crores Relief Expenditure by State :Rs.1476.08 crores Insurance pay out Rs. 361.19 crores Total Rs. 1837.27 crores 2. Mumbai Floods July 2005 – Economic loss Rs.15000 crores Relief Expenditure by State Rs. 1524.97 crores Insurance pay out Rs. 2971.18 crore Total Rs. 4496.15 crores
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Relief/Indemnity Disaster risk Financing ExposuresData
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Alternate Capital Traditional Insurance Capital Risk Financing RISK MAERIALISATION PAY OUT DIRECT BENEFIT TRANSFER
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To help in the efficient and effective functioning of Indian Insurance Sector by providing information support on a Complete, Consistent and Concise manner, to the members of the Society and to all other stakeholders associated directly or indirectly with the Insurance sector
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IIB is in a unique position by virtue of being the only mandated body with statutory powers for collecting any info IIB will be market neutral IIB can be authentic IIB can be the one stop source IIB can be non judgmental IIB can be predictive
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Insurance Industry in India- Life and Non Life IRDA s internal Customers Policy Makers – the Government/s Investors Academia, Consultants, Market Research agencies etc Global Fora like IMF,IIS,IAIS,
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IIB s rationale for existence is its Credibility and as a Utility for Market s Informed Decision Making process The One Credible Source
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Insurance Transactional information(IIB) Info with IRDA s Various verticals Macro & Open Sources of info
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IIB info IRDA info Macro Info Analytics
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Identify Customer Needs Build /Update database Employ Analytics Supply Output Regular/On Demand Measure Feedback/ Utlity
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Health Insurance data integration with TPAs, Insurers, Hospitals National Preferred Provider Hospital Registry Life Business analysis i.r. of penetration, demography, etc., Travel Insurance Portal for Consular offices issuing visas Various analytics as demanded by Insurance companies as well as regulator
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Natural catastrophe Exposure mapping and Modeling for the country Loss estimation and Final Loss figure publication for Nat cat losses Reference Rating for Property, Motor, Health lines
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Linkage of policy/ claims data with e accounts maintained by Insurance Repositories which in turn may get linked to Aadhaar
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