On 11 December, the launch of the CRP1.0 China Re Catastrophe Platform was successfully held in Beijing. Yao Qinghai, the Chairman of the Insurance Institute of China, Zhang Hongmei, the Deputy Director of the Property Insurance Regulatory Department of the China Insurance Regulatory Commission, and more than 50 representatives from the China Meteorological Administration, the China Earthquake Administration, the IWHR, the domestic insurance companies and the domestic and foreign catastrophe model data companies were invited to attend the event. In an enthusiastic atmosphere, the ceremony was participated in by Yao Qinghai, the Chairman of the Insurance Institute of China, Zhang Hongmei, the Deputy Director of the China Insurance Regulatory Commission, Sun Jian, the Director of the Public Service Center of the China Meteorological Administration, Zhang Renjiang, the General Manager of China Re P&C, Feng Jian, the General Manager of Information Technology Department of China Re Group. It was announced that the CRP1.0 China Re Catastrophe Platform was officially launched for the industry.
China Re Group has been committed to enhance the catastrophe risk management level of China, and exploit its advantages in reinsurance management technology and industry resources, so as to gather all the forces to promote the construction of the national catastrophe insurance system. On 22 June 2017, China Re Catastrophe Research Center was established for China Re to gather catastrophe data, cutting-edge technology and expert intelligence resources, with the aim of building a catastrophe data platform for disclosure and sharing with the insurance industry of China.
The CRP1.0 China Re Catastrophe Platform was launched to consolidate the data of top nine disaster risks, such as earthquake, typhoon, rainstorm, storm, flood, landslide, debris flow, snow, hail and lightning; integrate the data of real-time typhoon and meteorological disaster warning; and accumulate the latest GDP, population, terrain, water system, urban light and other fundamental data, so as to give visual presentations to users via mapping. The CRP1.0 Catastrophe Platform performs risk identification, risk map, disaster warning, disaster history playback, risk accumulation and control, online consultation and other core functions. China Re will offer strong support in respect of underwriting, claim management, catastrophe risk accumulation and control and internal risk management to primary insurance companies with the CRP1.0 Catastrophe Platform.
Zhang Renjiang, the General Manager, said in his speech that China has a high frequency of disasters and the insurance industry is facing more and more catastrophe risks. Aligning with our commitment and undertaking our missions, China Re will assume the national reinsurance responsibility, further promote the R&D of catastrophe models and catastrophe products, facilitate the upgrading of catastrophe platform, enhance the catastrophe risk management technology, and share our knowledge of catastrophe risk with the industry, thereby providing more professional catastrophe risk management services to the society.
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