Insurance Key to Urban Flood Recovery in Asia and the Pacific
Cities across Asia and the Pacific are finding that integrating insurance into urban planning speeds recovery from flooding and other disasters, and increases resilience.
Arup Chatterjee is Principal Financial Sector Specialist at the Asian Development Bank responsible for leading financial sector development initiatives and providing operational support in financial sector reform and development, regulatory and supervisory oversight architecture, insurance, pensions, financial inclusion, and Fintech. In addition, he has advised on disaster risk financing, agriculture insurance, health insurance, pensions and social security reforms, SME financing, and Takaful in Asian, African, and Latin American countries.
In his over three and half decades of work, he has traversed across insurance and reinsurance operations, financial sector policymaking, and regulations in Asia, Africa, and Latin America.
He has earlier served with the International Association of Insurance Supervisors at the Bank for International Settlements in Basel, Switzerland, Insurance Regulatory and Development Authority of India, and the Ministry of Finance, Government of India.
Connect with Arup via Twitter @chatarup
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Cities across Asia and the Pacific are finding that integrating insurance into urban planning speeds recovery from flooding and other disasters, and increases resilience.
Closing mortality and pension coverage gaps in Asia and the Pacific requires financial resilience strategies, smart regulation, and market-driven innovation.
Inclusive insurance solutions—from micro policies to femtech-driven products—are emerging to close the protection gap for women and build financial resilience for families.
Recent innovations in digital banking, parametric insurance, and inclusive pension systems provide tools to boost resilience, narrow inequality, and support long-term, sustainable growth.
Asia and the Pacific urgently needs to close the climate-related insurance gap. Solutions like green bonds, parametric insurance, and adaptation financing emphasize partnerships, nature-based investments, and tech-driven risk assessments to boost resilience.
Изменение климата угрожает экономическому росту, инфраструктуре и источникам средств к существованию в Азиатско-Тихоокеанском регионе. Устранив пробелы в наличии, доступности и информированности о страховании, регион может улучшить финансовую защиту от катастрофических климатических рисков и поддержать устойчивое развитие.
Climate change threatens growth, infrastructure, and livelihoods in Asia and the Pacific. By addressing gaps in insurance affordability, accessibility, and awareness, the region can improve financial protection against catastrophic climate risks and support sustainable development.
The insurance sector can be a game-changer by managing risks from climate change in Asia and the Pacific, protecting ecosystems, and supporting the shift towards a sustainable future.
By removing obstacles to getting insurance, insurtech can bring more people into the financial system, accelerating social and economic development.
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