Innovation, Critical Illness headline Nat Re’s 9th Annual Technical Forum
MANILA – The National Reinsurance Corporation of the Philippines (Nat Re) held its 9th Annual Technical Forum (ATF) at the New World Hotel Makati on September 19, 2025, gathering industry leaders and experts to discuss key issues and current trends in the (re)insurance industry.
The Non-Life side of the forum covered various innovations in the non-life sector and how they are reshaping the industry. In contrast, the Life segment of the forum focused on critical illnesses and high value covers.
Nat Re’s President & Chief Executive Officer, Mr. Allan R. Santos, opened the Non-Life side, underscoring the importance of the event as “we convene amid a complicated and dynamic environment as the Philippine insurance sector faces challenges posed by climate change, changing risk environments, new regulations, and global economic pressures.”
“At the same time, we are also seeing new and exciting opportunities brought by advancements in digitalization and the development of innovative products aimed at bridging protection gaps and enhancing resilience,” he added.
Deputy Insurance Commissioner Arturo S. Trinidad II, who headlined the Non-Life forum, echoed this in his keynote remarks, emphasizing the need to continue strengthening public-private partnerships in the industry to enhance risk management, expand insurance coverage, and foster innovation.
On the other side of the forum, Mr. Jaime Jose N. Javier, Head of Life Reinsurance, Data Admin, and Technology at Nat Re, underlined the need to understand the specific needs and requirements of various customers as he opened the Life segment of the ATF.
“The Philippine life insurance industry has evolved significantly over the years. Gone are the days of “one size fits all.” Today, market segmentation and understanding the specific needs and preferences of different customer groups form the foundation of product development in our industry. But with every promise we make to our policyholders—to be there during life’s biggest challenges—we must also carefully assess the risks behind each product we bring to market. This requires constant vigilance, innovation, and collaboration across the industry,” he said.
NON-LIFE: RESHAPING THE (RE)INSURANCE LANDSCAPE WITH INNOVATION AND PUBLIC-PRIVATE COOPERATION
With the theme “Reshaping the (Re)Insurance Landscape with Innovation and Public-Private Cooperation”, the Non-Life sessions provided a local market update and discussed how new technologies and solutions are helping advance the insurance sector.
Session 1: How Generative AI Can Revitalize Insurance Processes
In the first session, Mr. Edmund Tan, Chief Technical Officer of ReN3, discussed how Generative AI can enhance various insurance processes. He discussed the potential of AI in supporting risk assessment, streamlining administrative tasks, simplifying customer onboarding, optimizing marketing efforts, and accelerating claims processing.
Session 2: A New Paradigm for Agricultural Insurance in the Philippines
For the second session, Mr. Radu Tatucu, a Senior Financial Sector Specialist of the World Bank Group, delivered a presentation titled “A New Paradigm for Agricultural Insurance in the Philippines.” He highlighted the growing economic threat of climate-related disasters citing over a PHP 100 billion in losses in agriculture for the past five years and called for urgent reform through an insurance scheme that combines public sector expertise with private capital to close insurance gaps, scale innovation, and build resilience.
Market Update: What’s Cooking in the Philippine Insurance Sector
Meanwhile, Philippine Insurers and Reinsurers Association (PIRA) Executive Director, Mr. Michael Rellosa, delivered a market update titled “What’s Cooking in the Philippine Insurance Sector,” focusing on disaster risk financing and agricultural insurance. He emphasized the crucial role of the Philippine Catastrophe Insurance Facility (PCIF) in strengthening systemic resilience, highlighted the need for greater private sector involvement to ensure long-term and sustainable progress, and identified parametric insurance as a forward-looking solution with strong potential to transform agricultural risk management in the country.
Session 3: Parametric Insurance 3.0
Finally, Mr. Salah Dhouib, Senior Underwriter at Liberty Mutual Re, introduced a suite of parametric (re)insurance solutions designed to address protection gaps in catastrophe and agricultural risk in his presentation titled “Parametric Insurance 3.0”. He clearly outlined the functions, benefits, and practical applications of each product and highlighted the key advantage of parametric insurance: faster payouts triggered by pre-defined, measurable events such as wind speed or rainfall thresholds rather than relying on traditional loss assessments.
LIFE: BALANCING PROMISE AND EXPOSURE: INSURANCE FOR LIFE’S BIGGEST LIABILITIES, SPOTLIGHT ON CRITICAL ILLNESS AND HIGH VALUE COVERS
On the other hand, the Life’s side covered Life’s biggest liabilities, shedding the spotlight on critical illnesses and high value covers.
Session 1: Data Driven Decisions – Gen Re’s Critical Illness Data Insights Across Asia
Opening Life’s sessions were Ms. Joy Puar Ms. Wendy Low, Gen Re’s Senior Marketing Actuary and Actuary of Life/Health Asia’s Critical Illness Analytics, respectively.
In their presentation titled “Data Driven Decisions – Gen Re’s Critical Illness Data Insights Across Asia,” Ms. Puar and Ms. Low traced the history of critical illness products, reviewed experience trends, and highlighted how definitions of illnesses and screening practices vary across Asian markets. Their discussion underscored the pressing need to monitor product performance, especially as medical technology and diagnostic approaches continue to evolve.
Session 2: High Net Worth: Underwriting Essentials & Medical Hacks
Dr. Ada Chan, Medical Consultant at Hannover Re, addressed the growing demand for large Sum Assured applications in the second session of the Life forum. Her presentation, titled “High Net Worth: Underwriting Essentials & Medical Hacks,” challenged us to rethink our underwriting and pricing approaches in light of this trend. She provided practical strategies to help us respond more effectively to the increasing complexity of risk assessment, reminding us of the critical link between underwriting philosophy and pricing strategy.
Session 3: Understanding the Costs of Care for the Top 3 Critical Illnesses
Esguerra, Physician and Medical Coordinator for medically repatriated seafarers/seamen from abroad
Dr. Aen Esguerra, a physician and medical coordinator for medically repatriated seafarers/seamen from abroad under the Marine Medical Services of Cardinal Santos Medical Center, further enriched the discussion by examining the cost of care for cancer, heart attack, and stroke — the top three critical illnesses in the country. Her presentation highlighted the importance of understanding the real-world costs associated with these conditions, not only to design relevant and responsive benefits, but also to ensure fair and sustainable pricing.