Harnessing Climate Data for Future Proof Insurance Risk Models in India Project

Harnessing Climate Data : Future Proofing Insurance Risk Models through Tropical Cyclone Intensities in India

Objective

• This project aims to address these gaps by exploring PGW (Pseudo global warming)-based TC (tropical cyclones) projections using the Weather Research and Forecasting (WRF) model and identifying optimized modelling strategies for risk quantification.

Description

• Tropical cyclones, heatwaves, and floods are among the most destructive natural hazards, often resulting in profound economic ramifications. These extreme weather events amplify inherent risks, underscoring the necessity for integrated risk assessments. In this framework, catastrophe modelling plays a crucial role in predicting potential losses and enhancing resilience planning against such multifaceted threats.

Impact

• High-resolution hindcasts and future projections of TC events under multiple PGW configurations., A ranked catalogue of sensitivity to WRF parameterizations and PGW components., A dataset of historical and PGW-simulated TCs with insurance-relevant metrics., Technical workshops and stakeholder engagement sessions for insurance and disaster risk agencies.