NatCAT Competence Center

When storms and natural catastrophes strike, our customers need help fast. How big the damage is, how much capital and reinsurance cover we need, and what the impact of climate change will be - these and many other questions are addressed by the NatCat Competence Center (NCCC) in Group Actuarial.

The NCCC was established in 2013 as a Group-wide natural catastrophe consulting hub and in-house consultant and is unique in Central and Eastern Europe. Its skills range from physics and mathematics to data science and engineering. These skills and our well-established cross-departmental and cross-country collaboration make us a multidisciplinary and multicultural team covering a wide range of activities. 

Here are some examples:

  • Group-wide advisory hub for natural catastrophes and climate change with a scientific background and underwriting knowledge - our insights feed into core business, especially with underwriters, risk managers, risk engineers and product developers.
  • Group-wide data quality of underwritten risks and modeling with natural catastrophe models. The process is relevant for general input and analysis for Internal Models, Reinsurance/Retrocession, ORSA (Enterprise Risk and Solvency Assessment), Liquidity Stress Testing, Climate Change Scenario Analysis, ESG Reporting and Rating, etc.
  • Responsible for UNIQA Group Regulatory Authority Requirements related to natural catastrophes and climate change.
  • Responsible for the calculation of adequate reinsurance coverage, especially with regard to the requirements under Solvency II, including accumulation and stress scenarios to ensure robust coverage for our company and our customers.
  • Developing natural catastrophe models (approved by regulators for use in the internal model) that are unique to the insurance industry in collaboration with third parties, e.g., modeling companies, research centers, universities, etc. The models cover the entire UNIQA territory and are based on UNIQA's own historical claims in the field. This ensures the most accurate risk calculation and the fairest premium for our customers.
  • Developing our own tools using state-of-the-art programming languages and artificial intelligence techniques.
  • ESG and climate change: we are deeply engaged in this challenging and complex area.
    • Climate change scenario analyses for weather-related hazards at different temperatures: storms, flooding and hail
    • Participation in the Austrian Green Finance Alliance
    • Analyses and discussion for the ORSA report
    • Participation in international working groups and educational formats on innovative ESG topics (e.g. renewable energy)
    • Expert presentations at internal/external events
    • Coordination of UNIQA NatCat Event Response: in case of a natural event, UNIQA immediately provides all stakeholders involved with timely assessments of affected areas, risks and expected damages.
  • Knowledge transfer is in our DNA: The NCCC organizes special seminars and courses every year. In addition, the NCCC actively participates in events, both internally and externally.
  • Master and summer students: We jointly supervise master's theses in the industry segment with universities and welcome summer students every year. 

Judith Cerdà-Belmonte

Head of NatCat Competence Center