![Page 1: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/1.jpg)
Analytics at WorkFor Disaster Relief
![Page 2: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/2.jpg)
The Gap The Potential The Ingredients The Future
Overview
![Page 3: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/3.jpg)
1.Gujarat Earthquake Jan 2001 Economic loss Rs.23000 crores
Relief Expenditure by State : Rs.1476.08 crores Insurance pay out Rs. 361.19 crores Total Rs. 1837.27 crores 2. Mumbai Floods July 2005 – Economic loss Rs.15000 crores
Relief Expenditure by State Rs. 1524.97 crores Insurance pay out Rs. 2971.18 crore
Total Rs. 4496.15 crores
The Gap
![Page 4: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/4.jpg)
Relief/Indemnit
y
Disaster risk
Financing
ExposuresData
The Potential
![Page 5: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/5.jpg)
Alternate Capital
Traditional Insurance
CapitalRisk Financing RISK
MAERIALISATION PAY OUT DIRECT BENEFIT TRANSFER
The Future
![Page 6: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/6.jpg)
At IIB
![Page 7: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/7.jpg)
“ To help in the efficient and effective functioning of Indian Insurance Sector
by providing information support on a Complete, Consistent and Concise manner,
to the members of the Society and to all other stakeholders associated directly or indirectly with the Insurance sector ”
Mission
![Page 8: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/8.jpg)
IIB is in a unique position by virtue of being the only mandated body with statutory powers for collecting any info
IIB will be market neutral IIB can be ‘authentic’ IIB can be the ‘ one stop source’ IIB can be non judgmental IIB can be predictive
Unique Positioning
![Page 9: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/9.jpg)
Insurance Industry in India- Life and Non Life
IRDA’ s internal Customers Policy Makers – the Government/s Investors Academia, Consultants , Market Research
agencies etc Global Fora like IMF,IIS,IAIS,
Customers
![Page 10: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/10.jpg)
IIB ‘s rationale for existence is its Credibility and as a Utility for Market ‘s Informed Decision
Making process
The One Credible Source
![Page 11: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/11.jpg)
Insurance Transactional information(IIB)
Info with IRDA ‘s Various verticals
Macro & Open Sources of info
Information Source Framework
![Page 12: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/12.jpg)
IIB info
IRDA info
Macro Info
Process
Analytics
![Page 13: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/13.jpg)
IdentifyCustomer
Needs
Build /Update
database
Employ Analytics
Supply Output
Regular/On Demand
Measure Feedback/
Utlity
Long Term and ever
![Page 14: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/14.jpg)
Health Insurance data integration with TPAs, Insurers, Hospitals
National Preferred Provider Hospital Registry Life Business analysis i.r. of penetration,
demography, etc., Travel Insurance Portal for Consular offices
issuing visas Various analytics as demanded by Insurance
companies as well as regulator
Near term Plans ( end FY 2014)
![Page 15: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/15.jpg)
Natural catastrophe Exposure mapping and Modeling for the country
Loss estimation and Final Loss figure publication for Nat cat losses
Reference Rating for Property, Motor, Health lines
Mid Term Plans (by end FY 2016)
![Page 16: Analytics at Work For Disaster Relief. The Gap The Potential The Ingredients The Future](https://reader034.vdocuments.mx/reader034/viewer/2022051819/551685435503469d698b5f9b/html5/thumbnails/16.jpg)
Linkage of policy/ claims data with e accounts maintained by Insurance Repositories which in turn may get linked to Aadhaar
Future Plans (by end FY2020)