In a collaborative endeavor to tackle climate and disaster risks, PCRIC, along with regional risk pools including the African Risk Capacity Ltd., CCRIF SPC, and SEADRIF Insurance Company, co-hosted a joint side-event on the sidelines of the COP28 summit.
Representing PCRIC at this significant gathering, Finance & Planning Manager, Mr. Pankaj Singh drew attention to the company’s strategic positioning as the resilience hub for the Pacific region. He underscored PCRIC’s notable achievements on both the supply and demand sides, citing the expansion of its insurance solutions with the introduction of rainfall and drought products this year. Moreover, the company has broadened its sovereign client base, with Fiji and Niue opting for PCRIC’s parametric insurance products for the first time.
Mr. Singh also emphasized the collective potential among Risk Pools, highlighting areas such as reinsurance contracting, risk model development, and capacity building. The rich deliberations included insights from the Leads of other regional Risk Pools, reiterating their pivotal role in addressing climate and disaster risks.
Sharing knowledge and experiences among Risk Pools serves as a robust platform to craft a comprehensive mosaic of insurance solutions. This partnership approach enhances the ability to tailor and target products effectively for client countries, contributing to a resilient and adaptive response to evolving challenges.