Page 26 - The Insurance Times December 2024

Reinsurance

My View on

#20SIRC

Conference Rajendra Maharjan

Deputy Director
Insurance Regulatory
Authority of Nepal

The participants include world top reinsurers, brokers, insurers, IT companies, Consultants, and
Regulators. As a regulator from Nepal attending the (#20SIRC) was a unique thrilling experience
that provided opportunities for learning, networking, and strategic development. Here's a detailed
perspective that I had experienced during my visit to Singapore.

T he 20th edition of Singapore International Rein- technology providers, could lead to collaborations that

enhance Nepal's reinsurance sector. These connections
surance Conference (#20SIRC) took place in
could be vital in fostering knowledge-sharing and capac-
Singapore from 4th to 7th November 2024. The
theme of the conference was "Revolutionize
Re(insurance)". The #20SIRC Conference saw over 3300 ity-building initiatives.
participants with nearly 2000 joining from overseas. The 3. Workshops and Skill Development
participants include world top reinsurers, brokers, insurers, Participating in Interactive Sessions: Workshops focused
IT companies, Consultants, and Regulators. As a regulator on topics like risk modeling, data analytics, and the ap-
from Nepal attending the (#20SIRC) was a unique thrilling plication of technology in reinsurance is very beneficial.
experience that provided opportunities for learning, net-
working, and strategic development. Here's a detailed per- 4. Exploring the Impact of Technology
spective that I had experienced during my visit to Singapore.
Digital Transformation in Reinsurance: Observing how
technology is reshaping the reinsurance landscape pro-
1. Learning about Global Trends and In- vided insights into its implications for regulation. Ses-
novations sions on blockchain, AI, and big data analytics would
Keynote Presentations: Attending keynote speeches highlight the need for regulators to adapt to techno-
logical advancements while ensuring market stability
from global leaders in the reinsurance industry provided
insights into the latest trends and innovations. Topics such and consumer protection.
as digital transformation, the use of artificial intelligence
in underwriting, and the impact of climate change on risk 5. Adapting Global Insights to Local
assessment would be particularly relevant. Context

2. Networking and Collaboration Op- Tailoring Innovations: The conference offer wealth of
knowledge that can be adapted to the local context.
portunities Engaging in discussions about the unique challenges and
Building Partnerships: Opportunities to connect with opportunities in reinsurance market around the globe
industry stakeholders, including reinsurers, brokers, and was quite insightful.

24 December 2024 The Insurance Times