The Pacific Catastrophe Risk Insurance Company (PCRIC) CEO Mr. Aholotu Palu met with their media and communications team, Webmedia South Pacific, at their Suva office to discuss initiatives, plans and strategies for upcoming communication efforts in the new year.
This included exploring the company’s overall strategy and objectives, as well as the role of communications in achieving those goals. The CEO also sought input from the team on how to best communicate the company’s message and position to stakeholders, Pacific Island nations, and the public to effectively continue communicating PCRIC’s vision and plans to relevant audiences.
2023 will be a milestone year for PCRIC with the highly anticipated launch of the drought product in March and excess rainfall in June. These new parametric insurance products will especially appeal to Pacific Island nations in the North such as Kiribati and the Republic of the Marshall Islands who face such natural hazards.
Additionally, now past the logistical challenges of COVID lockdowns around the Pacific region, PCRIC is gearing up for a highly proactive slate of national visits and will be seeking to ensure on-point messaging that resonates specifically to each nation.
Further strategy and tactics were discussed in relation to PCRIC’s positioning as one of the world’s four (4) regional risk pools (along with African Risk Capacity Ltd. – Africa, CCRIF SPC -Caribbean, SEADRIF Insurance Company – Southeast Asia) and specifically as to how they will be jointly increasing their marketing efforts for even greater collaboration, data sharing, donor support and awareness.
As PCRIC’s parametric insurance product portfolio expands, the CEO and the communications team considered various potential tactics in developing succinct messaging and content to widely promote its rollout into the disaster risk finance market.