Philippine Standard Time
 

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DOST-PHIVOLCS, together with GIZ - Regional Program on Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (GIZ-RFPI Asia) and with the support of the Insurance Commission (IC), conducted a “Virtual User Training on GeoRiskPH Platforms” last April 14, 2021. The training aims to introduce and enhance the awareness and appreciation of Philippine Insurers and Reinsurers Association (PIRA) member companies to GeoRiskPH platforms such as the HazardHunterPH, GeoAnalyticsPH, and GeoMapperPH, thus encouraging their use for climate and disaster risk insurance. The training was attended by at least 205 participants, 8 non-life insurance providers, and representatives from DOST-PHIVOLCS, IC, and GIZ.

 

 

Dr. Renato U. Solidum Jr., DOST Undersecretary and PHIVOLCS Officer-in-Charge, Dr. Volker Steigerwald, Program Director for GIZ Regulatory Framework Promotion of Pro-Poor Insurance Markets in Asia (GIZ RFPI Asia), and Insurance Commissioner Atty. Dennis Funa gave the opening remarks, all highlighting the role of Science, Technology, and Innovation, as well as Climate and Disaster Risk Insurance, in building the country’s resilience to disasters.

The participants were introduced to the GeoRisk Philippines initiative, the data standards developed, and its platforms. The features and functions of the HazardHunterPH, GeoAnalyticsPH, and GeoMapperPH were discussed, followed by a live demonstration of the applications and hands-on activities. In-depth workshops and system integrations will be conducted in the coming months. Collaboration with the private sector may ensue as new use cases for the insurance sector will be developed collaboratively among the DOST-PHIVOLCS, GIZ, PIRA and the IC through GeoRiskPH.

The speakers and facilitators of the training consisted of Ms. Mabelline Cahulogan and Mr. Hanz Alejandria of DOST-PHIVOLCS, and Mr. Gian Galsim and Mr. Dante Portula of GIZ.

Emphasizing the adoption of GeoRiskPH platforms in the insurance industry, the Insurance Commission issued Circular Letter 2020-83, entitled Dissemination of Information on the GeoRiskPH Philippines Initiative as an Underwriting Tool for Non-Life Insurance Companies, encouraging the sector to adopt and use the initiative “relative to the assessment of risks of earthquake, flood, and other natural calamity-related insurance products” and to use the platform’s features to support initial underwriting assessments.