China's first financial technology company focused on catastrophe risk management
On August 25, during the first Smart China Expo, China Re Catastrophe Risk Management Co., Ltd. (a subsidiary of China Re P&C under the China Re Group, hereinafter referred to as “China Re Catastrophe Management”) was officially opened in Chongqing, marking the official appearance of China's first financial technology company focused on catastrophe risk management.
The guests pushed the paddles which symbolized the sails
China Re Catastrophe Management is jointly established by China Re P&C, Huafeng Meteorological Media Group Co., Ltd. (hereinafter referred to as “Huafeng Group”) and NavInfo Co.,Ltd. (hereinafter referred to as “NavInfo”). It is a financial technology company that provides professional catastrophe risk management technology and services and it will strive to build industry Internet ecology with the catastrophe risk management which is leading in the PRC and among first-class in the international field. It assists governments at all levels and the insurance industry to solve the major problems that restrict the development of China's catastrophe insurance and helps build China's modern risk management system.
In recent years, China Re Group has continued to exert its strength in the field of catastrophe risk management and achieved remarkable results, which has been highly recognized by the government, industry and society. Since 2017, the “China Reinsurance Catastrophe Research Center” and the China Re-Disaster Platform have been launched in succession, and the first earthquake catastrophe model with independent intellectual property rights has been officially released.
Speech by Li Weichao, Secretary of Party Committee of Jiangbei District of Chongqing
Li Weichao, Secretary of Party Committee of Jiangbei District of Chongqing, pointed out that Jiangbei District is committed to creating a high-quality financial ecological environment, and its financial agglomeration effect and influence in the industry are increasingly prominent. The establishment of China Re Catastrophe Management in Jiangbei District of Chongqing is not only an endorsement of the good financial development atmosphere in Jiangbei District, but also of important significance for the construction of Chongqing's modern financial center. China Re Catastrophe Management is a “black horse”. It not only undertakes the major mission of improving the level of catastrophe risk management in China, but also leads the future development trend of financial technology, which will definitely enhance Chongqing’s influence in the field of risk management and improve the layout of the financial industry in Jiangbei District. In the future, Jiangbei District will do its best to promote the implementation of various tasks with the utmost sincerity, best service and optimal environment, and strive to build the “Golden” reputation of financial services in Jiangbei District to help the growth of China Re Catastrophe Management.
Speech by Yao Qinghai, president of Insurance Society of China
Yao Qinghai, president of Insurance Society of China, said that there are frequent natural disasters in China, therefore, responding to the catastrophe risk challenge is an important measure to promote the modernization of China's social governance system. China Re Catastrophe Management brings together many achievements in insurance technology innovation, proposes scientific solutions, develops catastrophe models and databases with China's independent intellectual property rights, and sends out Chinese voices in the field of catastrophe risk management, contributing China's efforts and Chinese wisdom in responding to catastrophe risk challenges. Insurance Society of China will fully support the innovation work of China Re Catastrophe Management and make the contribution of the think tank in the construction of the risk model and the top-level design of the risk diversification mechanism, contributing to the protection of people's livelihood, the service of the real economy, and the service of the human community.
Speech by He Chunlei, Executive Vice President of China Re Group
He Chunlei, Executive Vice President of China Re Group, said that catastrophe risk management is related to the national economy and people's livelihood, and reinsurance is an indispensable part of the catastrophe risk management system. With the mission of “diversifying economic operation risks and serving the healthy development of industries”, China Re Group has actively played an important role in the construction of national disaster management systems. The establishment of China Re Catastrophe Management is to build an interdisciplinary and inter-disciplinary cooperation platform involving government, scientific research institutions and insurance companies, to study disaster risk response and insurance mechanism design, and to promote the industry to continuously improve the level of risk management technology, better fulfill the responsibility of national reinsurance, and integrate catastrophe technology and catastrophe insurance into the national disaster prevention and mitigation system to make greater contributions to the improvement of China's catastrophe risk management system.
Speech by Zhang Renjiang, General Manager of China Re P&C
At the launching ceremony, the three shareholder units also placed high expectations on China Re Catastrophe Management. Zhang Renjiang, General Manager of China Re P&C, one of the controlling shareholders of China Re Catastrophe Management, said that China Re P&C has been actively involved in the national catastrophe insurance business and has established a relatively complete set of catastrophe management systems on the levels of policies, products, technologies and teams. The establishment of China Re Catastrophe Management is the result of long-term research, innovation practice, technology empowerment and resource integration of China Re P&C. In the future, China Re Catastrophe Management will fully undertake the catastrophe development plan of China Re and gradually build a catastrophe platform for symbiosis and win-win of the industry.
Li Haisheng, Deputy General Manager of Huafeng Group, said that China Re Group, Huafeng Group and NavInfo jointly established China Re Catastrophe Management for their common feelings, mission and responsibility, representing the deep integration of the insurance industry, meteorological work and the Internet industry, which was in line with the direction of strategic development of Huafeng Group. It is also for the responsibility of protecting and escorting the happy life for the people.
Cheng Peng, CEO of NavInfo, talked about the cross-border integration of the Internet technology industry and the insurance industry starting from the relationship between NavInfo and China Re Group. The complementary resources and technical advantages of all parties and the consistent strategic development vision will surely give China Re Catastrophe Management a broad space for future development.
Zuo Huiqiang, Chairman of China Re Catastrophe Management, introduced the company's vision. In the future, China Re Catastrophe Management will strengthen the application of new technologies such as big data and artificial intelligence and develop a series of catastrophe risk management platforms to form a core competitiveness with "data + technology + service”, which would inject new impetus for the whole industry and the whole society to enhance the catastrophe risk management technology level.
About 80 guests from government departments, shareholder units, research institutes and insurance companies attended the opening ceremony.