We are proud to announce that the Chairman of SorS academy was among the speakers at the Turkiye Insurance Days. The event has gathered over 550 delegates, including esteemed government officials, global leaders and industry experts. The keynote speeches have set the tone for an impactful dialogue with a focus on closing the protection gap and building more secure and sustainable future for Turkey and global community.
Participants highlighted that in 2023, only 38% of global economic losses from natural disasters were insured, underscoring a significant protection gap that impacts societal resilience and recovery efforts.
Climate change and increasing population density in high-risk areas are driving the frequency and severity of natural disasters, further widening the insurance gap.
Innovative solutions, such as parametric insurance and advanced risk assessment models, are crucial in addressing this gap by improving risk evaluation, expanding coverage, and enabling faster recovery following disasters.
Natural catastrophes are becoming more frequent and devastating, with hurricanes, floods, and other disasters causing severe economic losses worldwide. The concentration of people and assets in vulnerable regions exacerbates the consequences, leading to greater financial losses and a broader insurance gap. Climate change is intensifying these risks, as extreme weather events are expected to become more frequent and severe.
Understanding disaster-related risks is essential for narrowing the protection gap and strengthening recovery efforts. Advanced risk models can help identify and quantify these risks, providing clearer insights into potential impacts. Sophisticated data-driven analytics enable the development of more effective risk management and mitigation strategies. These efforts can lead to innovative solutions that reduce the disparity between insured and uninsured losses.
