How to Evolve the Catastrophe Model to Take Advantage of Technical Advances

Catastrophe Resiliency Network Podcast

In this Catastrophe Resilience Network episode, Chris McDaniel welcomes Dickie Whitaker, CEO and one of the founders of Oasis Loss Modeling Framework. Dickie also co-founded and worked for The Lighthill Risk Network, FiNexus Ltd, Oasis Palm Tree Ltd, and the Oasis Hub. He shares his insights of the current catastrophe model and how it should be adopted with our rapidly changing technologies. He also talks about Oasis and how insurance is a force of good despite how others may perceive it.

Key Takeaways:

• What are some of the key issues and risks in the insurance industry?
• Collaboration plays a particular role in two areas: complexity and efficiency. Dickie elaborates on this further.
• How can the catastrophe model take full advantage of technical advances that are changing daily?
• Established practices are hard to change. Dickie shares his thoughts on how these can be challenged with the changing times.
• Interoperability vs Standards. Dickie describes what their differences are and how both can be complementary.
• What key areas of the catastrophe model need to be prioritized for change?
• Innovation and creation of standards starts with people and individuals who make a stand and actually do it.
• Where does Dickie see catastrophe modeling being used outside of the insurance industry?
• Insurance is a force for good. Dickie shares how their work in developing countries is an extension of that.
• Dickie talks about the successes of Oasis that he feels most proud of.

Resources:

Catastropheresiliency.org

Email: [e-mail]

Dickie on LinkedIn

Dickie on Twitter