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SCI ASEAN Green Research Hackathon

On Green Insurance And Sustainable Risk Management

Singapore College of Insurance (SCI), in collaboration with the ASEAN Insurance Council (AIC) is organising this inaugural hackathon to generate greater awareness about green insurance and sustainable risk management; and to also bring together the best minds from the industry and beyond to be involved in the discussion and development of various innovative solutions that are necessary to address the growing need of and demand for both corporate responsibility and environmental sustainability.

 

ASEAN cannot avoid its exposure to a variety of disasters. Compared to the rest of Asia, the ASEAN area is the most prone region to disasters in the world.  The member states are highly vulnerable to climate change as a large proportion of the population and economic activity is concentrated along coastlines; agriculture is the economic lifeblood for most nations; there is a high dependence on natural resources and forestry; and the level of extreme poverty remains high. From 2006-2020, drought, severe floods, typhoons, super typhoons, tropical storms, earthquakes ranging from magnitudes of 6.7 to 7.6 and tsunamis have affected some 190 millions of lives across ASEAN. From 2012 to 2018, an estimated yearly damage of 15.9 billion US dollars, three times ASEAN’s collective annual GDP has occurred caused by these natural disasters. Source : “The Disaster Riskscape across South East Asia, United Nation ESCAP 2020”

As an industry, our key purpose is to advance societal and economic resilience. Therefore, in this only one of its kind hackathon, we are looking for you to generate impactful research and create innovative insurance solutions to solve these global issues!

There will be two (2) categories – Research and Technical. For the research category, teams will be able to choose one (1) out of three (3) research topics. For the technical category, teams will be able to choose one (1) out of three (3) technical challenges that the industry faces. The general direction of this Hackathon is to encourage research that generates new insights into emerging problems and technical prototypes that will work (or at least are at a Proof-of-Concept stage). The research topics and technical challenges will be announced on 1 September 2021.