Page 21 - Turkinsurance Digital Magazine

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laboration with a company called Safehub, through ing at Allianz, emphasized the importance of detailed
which they obtain real-time data using sensors the studies in problem-solving processes. Eren stated, “The
size of a mobile phone. He stated that these sensors future offers an important ground for predicting poten-
are low-cost, cyber-secure, and provide not only seis- tial losses. Previous studies have leveraged errors in
mic information but also all data related to the building. buildings and regional vulnerability curves. Howev-
He added that these applications are applicable to large er, in this presentation, I believe that a risk-based
buildings as well. approach will provide different benefits rather than
modeling.” This approach aims to contribute to the
Erdem Karabostan, General Manager of T-Rupt development of more innovative solutions in the field
Technology: “Balance is Very Important in Dis- of risk management.
aster Information Management”
Michael Roth: “We Are Happy to Collaborate
Erdem Karabostan, General Manager of T-Rupt Tech- with Reinsurance in Turkey”

nology, emphasized the critical role of information
management in disasters. Karabostan stated, “There Roth, Head of Public Sector Applications at Mu-
should be a balance between knowing everything with nich Re, shared his thoughts on collaborations in
zero information. Insurance becomes impossible at both the Turkish market. Roth stated, “We are pleased
extremes, and those situations are uninsurable.” In this to work with a reinsurer in Turkey. We have been
context, maintaining balance in modeling studies is of in this market for 70 years and, together with the
great importance for risk management. World Bank, established DASK during the 1999
earthquake. In the coming years, we will stand
Dr. Ceyhun Eren: “Risk-Based Approach Will alongside the Turkish insurance sector and set com-
Provide More Effective Solutions in the Future” mon goals regarding the protection gap.” This ap-
proach aims to enhance resilience in the sector and

Dr. Ceyhun Eren, Director of Technical Risk Engineer- manage risks more effectively.

Yavuz Ölken on Protection Gap and

Data Quality Approach

maraş earthquake. Ölken mentioned that data quality is critical
for Turkish insurance and that the current level of data quality
is high. He thanked Allianz for its investments over the past five
years and AXA for its capital increases through local and foreign
investors. Ölken argued that the biggest cost in pricing is not
reinsurance; rather, this cost will decrease with an increase in
penetration.

Future, Sustainability and Collaboration Ölken highlighted that
the protection gap will be the most important issue in the sector
for 2024. He stated that there is a need for a deep examina-
tion of global developments and indicated that the future solu-
tion partners will be reinsurance brokers and agencies in Turkey.
Emphasizing that Turkey has become the country that invests the
most in green energy, he addressed the importance of sustaina-
bility. He expressed the necessity of developing a common un-
Yavuz Ölken, CEO of AXA Sigorta and Board Member of the derstanding in the face of natural disasters and climate change.
Turkish Insurance Union, emphasized the importance of defining Ölken noted that future risks must be integrated into insurance
the protection gap. He stated that we first need to understand through education and services, stating that closing the gap be-
what protection means. He noted that T-ROC was the only insti- tween good and bad can only be achieved through collaboration.
tution that accurately predicted damage during the Kahraman-