Abstract
Forecasting Typhoon Insurance Loss for South Korea and Taiwan Track: Business GIS Author(s): Peter Geissbuehler, Andreas Zbinden Converium, a Swiss reinsurance company, manages its natural catastrophe risk on property business using third party and in-house developed hazard models. To this end, fully probabilistic, stochastic typhoon models have been developed for South Korea and Taiwan to determine key figures such as loss costs and loss frequency. In addition, worst-case loss estimates and the impact of historic typhoons are required for a better understanding of the risk in our and client's existing portfolios. In response to these needs, a special tool called "Typhoon Tracker" was developed to fulfill individual requests. With this tool, losses caused by historic Northwest Pacific typhoons or any created stochastic storm can be evaluated for the entire insurance industry or for individual clients. This tool also allows loss estimates to be predicted before an approaching typhoon makes landfall. Furthermore, clients can create their own typhoon events to determine their level of needed insurance coverage. Peter Geissbuehler Converium Actuarial and Risk Modeling Service General Guisan Quai 26 Zurich 8022 CH Phone: +4116399114 E-mail: Peter.Geissbuehler@Converium.com Andreas Zbinden Converium Actuarial and Risk Modeling Service General Guisan Quai 26 Zurich , Zurich 8022 CH Phone: +416319113 E-mail: anderas.zbinden@converium.com |
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