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Allianz Re's Collaborative Approach to Flood Protection: Insights from Sibylle Steimen

Allianz Re’s Collaborative Approach to Flood Protection: Insights from Sibylle Steimen

06/04/2024
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Allianz Re’s Collaborative Approach to Flood Protection: Insights from Sibylle Steimen

by Daisy D.
06/04/2024
in Compliance, Risk Management

In an era marked by escalating natural disasters, Sibylle Steimen, Managing Director of Advisory & Services at Allianz Re, leads a team of scientists dedicated to navigating the complexities of catastrophe management. Armed with a doctorate in seismology from the Swiss Seismological Institute, Steimen offers valuable perspectives on the recent surge of floods in southern Germany.

The conversation begins with an examination of the apparent uptick in flood occurrences and their growing economic toll. Steimen elucidates that while floods have historically ravaged communities, the severity of their impact has amplified in recent years. Contributing factors include the burgeoning population settling in high-risk zones, the proliferation of valuable assets within these areas, alterations to natural waterways such as river straightening, and the looming specter of climate change, which exacerbates precipitation patterns.

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In response to these evolving risk landscapes, Allianz Re remains at the forefront of risk modeling and insurance tariff adjustments. Steimen underscores the necessity of continually refining these models to accurately capture the shifting dynamics of flood risk.

However, insurance coverage represents merely one facet of a holistic risk management strategy. Steimen advocates for a multifaceted approach that encompasses preemptive measures such as strategic urban planning, robust flood protection infrastructure, and efficient disaster response protocols. She emphasizes that while insurance can mitigate financial losses, proactive risk mitigation measures play a pivotal role in safeguarding communities against the ravages of floods.

Central to Allianz Re’s risk management ethos is a collaborative partnership with clients in fortifying flood resilience. Through innovative tools like the Global Risk Assessment Tool (GloRiA), clients can assess their exposure to natural hazards and implement tailored risk mitigation strategies. This collaborative framework empowers clients to proactively safeguard their assets and communities against flood-related perils.

As the specter of climate change looms large, secondary perils such as floods and forest fires assume heightened significance. Allianz Re, cognizant of this shifting risk landscape, has invested in cutting-edge modeling techniques and forged partnerships with scientific institutions to enhance its risk assessment capabilities. By leveraging over 20 flood models and engaging with esteemed institutions like the Karlsruhe Institute of Technology, Allianz Re endeavors to deepen its understanding of climate-induced hazards and refine its risk modeling methodologies accordingly.

In conclusion, Allianz Re’s collaborative approach to flood protection underscores its commitment to proactive risk management. Through ongoing innovation, partnership, and a steadfast dedication to understanding and mitigating emerging risks, Allianz Re endeavors to fortify communities against the ravages of floods and other natural perils in an increasingly uncertain world.

Stay current with supply chain report news at The Supply Chain Report. For international trade resources, visit ADAMftd.com.

#AllianzReFloodProtection #CollaborativeApproach #RiskManagement #FloodPrevention #SibylleSteimenInsights #SupplyChainNews
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