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Catastrophe Thought Leadership
“It’s Not If, It’s When”
Agenda
“Musts” Driven by Experience
“Everyday is Earthquake Day”
Differentiation
“It’s not if, it’s when”
Earthquake
Questions and Response
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CATASTROPHE“Musts”
Foresight-
– Thought Leadership. Staying current and anticipate the growing severity of events, their impacts, and anticipating the needs of customers.
– Policyholders to anticipate current and future needs and align resources and Business Continuity Plans to drive operation sustainability.
Planning-
– Proactive understanding of exposures, risks, and locations is key for any CAT Response. Gathering collaborative business partners and outlining accountabilities promotes our “One Zurich” culture.
– It’s imperative for customers to have Business Continuity Plans implemented and practiced annually. Yearly revisit of BCP is critical to business sustainability.
Resources-
– Dedicated resources allow for an effective customer response to any CAT event. Proactive relationship management allows Zurich and its policyholders to have resources aligned prior to needing them. 3
“Everyday is Earthquake Day”
Proactive Preparation, Planning, and Execution
Plan for the worst case scenario and scale down as needed
“It Takes a Village”- Business Partner Accountability/Preparation checklist developed, confirmed, and distributed (Annually-January)
24/7/365 Monitoring of Global CAT Events (actual & anticipated)
Customizable CAT Response to effectively manage any event
Strategic Geographic Placement of CAT Team
Dedicated and trained vendor resources
Global Economy Impacts
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Differentiation:Loss Cost Management
Great examples of Business Continuity Planning:
• Business continuity plans implemented and practiced annually• Communication plans in place• Shifting operations to safe location• “Virtual” office set up• Pre-Loss Agreements• Redundant/Off-site IT back up• Back up power generators• Understanding Logistics
• Potable Water
• Power Generation
• Sanitary System
• “Building Tagging”
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“It’s not if, it’s when”
Understanding Risks and Changing ConditionsClimate Change
– Seismic Activity
– Sea Level Rise
– Shifting Flood PlanesBusiness Continuity
– Supply Chain ManagementWorkplace SafetyProperty DamageBusiness Income
Understanding Perils and ChallengesEarthquake (“Ring of Fire”- US/Canada. South America, New Zealand, Japan)HurricaneTornado
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Christchurch, NZ. Earthquake 2011
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Liquefaction Challenges
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What are your challenges?
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Questions and Response
Thanks!!
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