Globally, there is increased concern about the potential impacts of extreme climate events and about how they affect loss and damage to people, assets and property. Natural partners in using climate services to assess risk are therefore companies in the Global (Re)Insurance Sector, who are key implementers in increasing societies' resilience to and recovery from extreme events, and who are integral, co-design partners in the project.
One goal of the EU-f
unded project is to operationalize a system called the Oasis Loss Modelling Framework (Oasis LMF) that combines climate services with damage and loss information and provides a standardized process that can assess potential losses and areas most at risk, and can quantify financial losses from modelled scenarios. It is intended to test and verify the Oasis LMF system through carrying out a range of demonstrator subprojects designed to correspond to 'real' situations and end-user communities in municipalities and in the insurance and business sectors. These demonstrators have already been agreed with the end-users and work on hydro-climatic risk (in the Danube Region), typhoon risk, African farmer risk (through using climate information to support the underwriting of micro-insurance), climate versus health and climate versus forest asset risk assessment.
Another project goal is to further expand access by all sectors to the models, tools and services developed within this project and the broader climate services sector by operationalizing an open e-marketplace and matchmaking facility for catastrophe and climate data and models, tools and services. Through broadening awareness in the climate modelling and end-users communities to the Framework and the transparent and comparable standard it offers to support evidence-based risk assessment and adaptation planning.
PIK is the overall coordinator of the project, and further leads the flood risk demonstrator and the farmer micro-insurance demonstrator.
Homepage:
https://h2020insurance.oasishub.co/
Contact:
Dr. Fred Hattermann
Phone: +49 331 288 2649
E-Mail: hattermann@pik-potsdam.de
