Session 6 : Applying Insurance Industry Risk Expertise to Meet Developing Countries' Needs
This session showcased how the insurance sector's catastrophe risk expertise is being leveraged to support disaster resilience in developing countries. They highlighted initiatives by the Risk Modelling Steering Group (RMSG), including the development of open-access risk modelling tools and data standards, such as the Oasis Open Data Standards and the UNDRR/ISC Hazard Information Profiles (HIPs), to enhance local risk understanding and inform risk-informed decision-making. The session emphasized the importance of cross-sector collaboration and open tools in building resilience and facilitating informed conversations with international finance institutions.